CCTV.com - CNTV English - CCTV News

London builders target Asia investors

08-31-2010 14:20 BJT

London's biggest home builders are targeting cash-rich Asian investors. The demise of the buy-to-let market in the UK has forced them to generate new overseas customers.

In a sign of the shifting balance of wealth in the global economy, home construction companies are taking advantage of stronger growth in Asia's emerging markets. The added attraction of the weak sterling has also helped sell a third of new homes build in the capital to Asian buyers.

Berkeley Group is London's largest home builder by volume. It says that of the 2000 homes it sold last year at an average price of 263 thousand pounds, more than 30 percent went to buyers in China and India. This compares with a historic average of just 10 percent. However, some within the industry have questioned the impact this might have on the affordability of homes for local buyers.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program