Investment from South Koreans in the United Kingdom’s real estate market for H1 2018 was already double and more in comparison to investment figures seen for the entire 12 months last year as per reports. Studies have confirmed that close to £1.1billion pounds worth of property had been purchased by investors from South Korea in the first six months of this year which is considerably more than the £530 million worth of property bought in all of 2017.
Studies state that investment volumes are slated to go up considerably for the remaining part of 2018. There were four real estate deals which account for £1 billion of real estate and all of these were situated in central London. The biggest acquisition by Mirae Asset Global Investments pertained to the 20 Old Bailey project for a whopping £340 million. Korean Investment Securities bought 70 Mark Lane while Mirae Asset Daewoo and NH Investment & Securities purchased Cannon Bridge House. Samsung SRA also bought 200 Aldersgate. The transactions all surpassed £200 million. Investors from Hong Kong have put in approximately £1.73 billion this year while Chinese investors have pumped in around £1.2 billion. Singapore based investors have purchased property in UK worth £842 million as per reports.
Demand should increase amongst South Korean investors for H2 2018 with KAIM OBO Hana Financial Group having already bought Gallagher Retail Park near Walsall for a staggering £172 million this July as per reports. The biggest out of 7 deals from South Korean investors last year pertained to Haims Hall in Sainsbury, Birmingham which was picked up for £104 million by KB Securities and Kiwoom Securities. Several regulatory changes have made the scenario more favourable for external investments into the UK. South Korea based investment funds have also been acquiring stakes in top hotel brands like London Hilton, Park Lane and The Dorchester.
