The London Daily News

09 November, 2009 10:16 (GMT +00:00)

London "prime properties" to be snapped up by Japanese

Property Desk

Japanese buyers are scouring Kensington and prime areas in London to snap up bargain priced properties taking advantage of the strong Yen and the weakness of the pound.

Japanese buyers are benefitting from a 40% drop in prices given the currency drops and it is expected "Yen buyers" will be flocking to London to snap up prime real estate.

Central London property prices were immune to projected national high price drops of 6%, according to research by Savills that stated:

"The return of bank bonuses and a smaller reliance on mortgage finance among the wealthy would ensure prime property did not fall as far, central London markets is a "safe bet".

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