Huānyíng (‘Welcome’ in Chinese), skol’ko, (‘How much’ in Russian) and حيث (‘Where’ in Arabic) – these are important greetings and questions in our world. Whether it’s how you welcome new applicants, knowing which style of property to show, finding the correct area for them to be in – at the end of the day, it all matters to someone.
You may have noticed, or should have done, our website is now available in Chinese, Russian and Arabic. We have had an ever-increasing number of international clients in recent months and it is only right we welcome them correctly and understand their needs.
Juwai.com estimates that Chinese investment flowing into the London property market has rocketed by 1500% since 2010, from £54m to a whopping £1 billion per year (Prime Resi June 2014). Their recent partnership with Harrods Estates demonstrates this very well. We’re taking a different approach though – we’re getting personal. We have recently commissioned a Chinese consultant to our midst, who is going to monitor our presence overseas and ensure our teams are educated in Chinese buying habits and approach every situation in absolutely the right way. He has years of experience in the luxury sector and believes “Henry and James’ business approach and values in which they treat every potential investor with integrity is fundamental to Chinese investors. Travelling from thousands of miles away and investing in a country with distinctive language and culture, it is essential for Chinese investors to find the right property agent that is trustworthy and understands their needs”.
Just last week both The Sunday Times and Telegraph have reported that Indian’s are the next big spenders, with a reported £1billion being invested in the Prime Central London market over the past 18 months. Recently, more than ever everyone – especially researchers – are talking about nationalities and their buying power.
Whether it is the Russians, Chinese, Ukrainians or Indians buying all of London, there is always someone ‘dominating the market’ despite the pound strengthening in recent months. As Aeschylus said “Everyone’s quick to blame the Alien”. However they seem to be ignoring the domestic buyers, which we are seeing competing with overseas investors and actually more often, becoming the end user.
The Governor of the Bank of England, Mark Carney, has called the UK housing market the “biggest threat” to the economic recovery. Little does he know that his position as the Governor of the Bank of England has increased our Canadian and US applicants – who clearly appreciate having a Canadian at the helm and respect the resilience the London property market has demonstrated. We’re hearing again that the London market is now at a standstill, although overseas and domestic investors are inundating us…something’s not adding up here and the media storm is certainly being whipped up well. Let’s just hope our investors and applicants don’t take too much notice.Back to News