Reuters report that Chinese property investors are changing the property scene in London. Prime central London is no longer the focal point, instead, other neighbourhoods further away such as Harrow are now drawing more investor interest (14 April 2014). Many are attracted by 5%+ rental yields that is only possible away from the overinflated hub of London, while others are seeking to invest for a quick flip in order to pocket a tidy profit. This influx of Chinese buyers are poised to keep growing, and Juwai.com predicts that by 2016, Chinese investors will surpass Singaporeans as the largest foreign investors in London. According to Juwai.com, half of its Chinese customers prefer to purchase existing properties in the UK.
