Asian investors' strong demand for London homes has spurred the Berkeley Group, a British luxury developer, to open a Hong Kong office to serve customers in the region.
The group, which markets properties under the St George, St James, St Edward and Berkeley Homes brands, opened a 2,200 sq ft showroom and office in Edinburgh Tower in Central last month.
The opening of a local office marks a first for the group, even though it is no stranger to buyers in the region, having sold properties to homeowners and investors in East Asia for some 20 years, according to Paul Vallone, managing director of Berkeley Homes (Urban Renaissance).
The office will be staffed by three to five marketing representatives who will assist buyers with the full range of customisable options such as kitchen fittings.
'We are expanding in Asia, and the market executive suite is a step in that process,' said Vallone. The Berkeley Group plans to open a Singapore office this year.
Its decision to upgrade its presence in the region was a response to the rising demand for London real estate from local investors who wished to protect their assets from political and economic instability as well as to exploit the weak British currency.