Chinese interest in London property growing in spite of Brexit
It appears that Brexit has not hampered China's growing interest in London property with Chinese banks looking to finance the first stage of a new financial hub for Asian businesses, to be based on an old East End dock near London's City Airport. According to data from CBRE Group, Chinese firms are predicted to invest $4bn in London property this year, passing the 2015 record by a third. “Chinese investors are betting that the UK will do well in the Brexit talks, and if it doesn’t, companies will still choose London as their base,” says former CEO of developer U+I Group, Michael Marx.
London is still a great magnet for companies from Asia which already have trading agreements with the European Union. Photo: Bloomberg