London builder Regal Homes aims to sell 400 houses to Asians this year
Regal Homes aims to sell 400 London houses to buyers who are fleeing political uncertainty at home or just looking for a safe place to invest
Regal Homes, a medium-sized builder in London, plans to sell 400 houses worth a total of more than £350 million (HK$4.54 billion) to Asians this year.
"We are planning to launch six new projects this year, with half or more released to Asian markets, depending on local demand," chief executive Paul Eden told the South China Morning Post.
"Everyone wants a piece of London. It's safe. The education is good."
About 80 per cent of Regal Homes' clients were Asians, and 65 per cent of them were repeat buyers, Eden said last month in Hong Kong, the last leg of a week-long Asian tour talking to clients.
Some Asians were buying for security, while others just needed to spend the money sitting in their bank accounts, he said.
"We are looking at different regions, such as the Middle East - with the crisis going on at the moment, inquiries in my office have gone through the roof," Eden said.