| Hong Kong’s de facto central bank is moving into London’s swanky Mayfair district, better known for hedge funds and Arab oil money than regulators and policy makers. The Hong Kong Monetary Authority has invested in a joint venture with the UK’s Great Portland Estates to develop the Hanover Square Estate, joining the rush of Asian and other foreign wealth into London property.
London has been one of the most popular spots for property investors from Asia recently. Almost one-third of Asian property investments overseas were in London in 2012 compared with a historical norm of about one-quarter, according to PwC. However, there is still less money leaving Asia than before the financial crisis...............................................Full Article: Source
|