Five more sales to Asian buyers make One Hyde Park luxury Tower of Babel
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The prestigious residential development One Hyde Park in Knightsbridge, London, has just the six apartments left for sale in the high-profile apartment complex.
With the total sales now standing at over £1.7 billion (€2.1 billion, $2.7 billion), One Hyde Park has attracted international buyers from across the globe, from China to America, to Russia, the Middle East and Europe. There were 86 apartments in the development.
There are now 25 nationalities represented at One Hyde Park, the world's most expensive residential complex.
The last five newly completed sales in the past three months were all originating from Asia.
The latest two- and three-bedroom apartments were sold to Chinese, Taiwanese, Japanese, Thai and Malaysian buyers, with Asian buyers now accounting for over 30% of the total sales at the development to date. A four-bedroom apartment also sold to a Kazakhstan buyer this month for over £25 million, leaving fewer than seven of the high-profile apartments remaining for sale, according to Savills.
Candy & Candy was the development manager and interior designer for One Hyde Park gaining international recognition for its bespoke and innovative design.
Looking at the Asian buying market in Sydney, Tony Leong, who heads up the China desk at Savills NSW, commented that Asian interest in residential property within the Sydney metropolitan area was at "an all-time high."
“There are many reasons for buying in Australia but the three main profiles are the buyers who are looking for properties so that their children can study here, so they might buy a property when the child is very young with a long term view or they might buy something only for the time that their child is studying.
"There are also buyers who are looking to migrate here so they will look for a property as their home and finally there are the investors who will be buying more than one property," he says,
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