As the housing sector continues to debate the Policy Exchange’s rather blunt proposals of selling off higher value social properties to fund cheaper ones, it’s perhaps worthy to note that demand from overseas cash purchases for homes in the capital is rocketing.
In July Savills told us that 34% of all prime residential London buyers in 2011/12 were from overseas – up from 24% in 2007. It is interesting to note that two-thirds were buying their main residence, however, some 20%...
