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Wednesday, 22 February 2012

Arab spring in London property | beyondbrics –

The Arab spring has turned into a ka-ching [£££] for London’s new-build residential property market, according to real estate consultants Jones Lang LaSalle.

The value of Middle East investment in London’s new-build market almost doubled last year as unrest in the region prompted buyers to look for havens abroad, the property consultants say.

In 2011 Middle East money made up 9 per cent of total foreign investment in London’s new-build property, compared to 5 per cent in 2010, according to JLL’s sales data. That happened as the total foreign transaction values for newly built homes stayed flat at around £1.25bn.