Mipim 2019: Asia still shopping for London deals

London remains the top destination for Asian capital, according to a new study on Monday which should encourage dealmakers at the Mipim property festival in Cannes, this week.

Agent CBRE said 18% of total outbound investment targeted London in 2018, up from 13% in 2017.

Investors from Hong Kong, Singapore and Korea were the major buyers, with more than 85% of total investment activity. Deals last year included Hong Kong’s CK Asset Holdings’ £1 billion purchase of office block 5 Broadgate, home to UBS.

CBRE head of central London investment James Beckham said: “London has long been the top destination for Asian capital owing to its strong fundamentals and established status as a leading global gateway city. London’s resilience cannot be underestimated.” But Beckham added that some buyers are being more cautious ahead of Brexit.