UK luxury housing market remains resilient: Savills

The luxury property market in the UK remains largely unaffected by the global economic crisis, according to British property broker Savills.

It noted that residential property in prime London is a safe haven for investors despite the ongoing crisis, which has created a two-tier British market.

Meanwhile, a report by Reuters stated that values for the best properties in Singapore and Hong Kong are also resilient.

“We currently see no material change in the outlook for our business although the potential effects of the current economic and social volatility are likely to have some impact on both commercial and residential transaction markets across our regions,” said Jeremy Helsby, Chief Executive of Savills.

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