Agent has not sold to a single UK buyer in seven years

Fine & Country’s flagship Mayfair office in London has not sold one property to a UK buyer since 2005.
 
The Mayfair office in Park Lane, London, has instead been using its enviable location to sell homes solely to foreign buyers for the last seven years.

The revelation comes after Jones Lang LaSalle said that 81% of buyers of new central London developments are from overseas, with over half being Asian.

Winkworth has recently opened a China desk, and Knight Frank revealed that in the last 12 months, 59% of all prime central London lets have gone to international tenants.

Julian Lilley, of Fine & Country Mayfair, said: “London is seen as a safe haven both from a security and a financial perspective. London’s property market seems to defy gravity.
 
“Whereas most of Europe and many parts of the UK are showing declines in excess of 10%, central London prices continue to rise, with some areas such as Mayfair and Knightsbridge showing increases of over 20% in the last year.”
 
He added that there is no sign of foreign buyers staying away, despite sky high property prices: “Following the summer, our many Middle Eastern clients are returning to London eager to buy houses or to rent apartments for their student offspring.”