London has seen off competition from Munich and Berlin to be named the world’s best city to invest in property.
Earning the top spot the second year running, a report presented at MIPIM – a real estate show held in Cannes, France – showed 31 per cent of 362 investors surveyed believe London is the best place to put their cash.
In addition, Munich managed to gather 16 per cent of votes followed by Berlin, Paris and Warsaw, while cityam.com reports that Dublin also appeared in investors’ top ten places as buyers set their sights on an economic recovery in the market.
Overall, Europe gained 27 billion euros of investment from investors outside of the continent last year.
Chairman of EMEA research at CRBE Peter Damesick believes there are also signs that Spain is beginning to attracted “renewed interest” from investors eyeing up southern European markets.
Mike Edwards, central London executive director for CBRE, commented on the figures: “Investors are looking to commit further capital to European real estate in 2013, with London again likely to be the biggest beneficiary.
“The current and significant improvements in leasing activity will reinforce the already strong investor confidence in the central London market,” he added.
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