London property market is popular with foreign buyers

Foreign investors will continue to take advantage of the "favourable conditions" in the London property market, it has been claimed.

According to the British Property Federation (BPF), many overseas buyers are looking to capitalise on the weakening pound, cheap debt and lower interest rates.

Andrew Teacher, media manager at the BPF, explained that interest rates are unlikely to remain at their current low level forever and many investors will be looking to enter the market before the bank is forced to push them up.

"Clearly opportunistic investors will make use of favourable conditions in the market," he said.

However, the property expert believes that prime properties in the capital will continue to be popular among buyers once the market recovers fully.

Research recently carried out by Savills revealed that 55 per cent of all real estate transactions which took place in London last year were by foreign buyers.

The organisation put the popularity of the market down to the weakness of sterling and the strong purchasing power of foreign currency buyers.

Like this? Then share with your friends and colleagues!