With prices start from £900,000 ($1.4m) for a two-bedroom apartment at the newly-launched Mill Hill Place, Heronslea said Middle East buyers were keen to get on board for “rental and capital growth purposes”.
Jason Rishover, managing director, Heronslea, said there was a growing trend for many Middle Eastern investors who are choosing overseas real estate rather than properties at home, with London being the destination of choice.
He said: “We have had a lot of interest from Middle East investors wanting to buy property in London due to the weak sterling, either as their own base in the capital or to rent out to the local market.
“Either way they are looking at the long term capital growth value as recent figures from agents suggest the property market in London will continue to rise by as much as 20 percent over the next five years.”
According to a report by Jones Lang LaSalle, Middle Eastern investors purchased a total of $1.7bn in the UK over the first half of 2012, double the amount invested in the previous year.
At the end of the year a sharp increase also took place in London with Middle Eastern buyers snapping up luxury property.
Mill Hill Place is a collection of 38 apartments and penthouses, set within secure, gated grounds, in the prime residential area of Mill Hill Village, North West London, NW7.