19 April 2018, Prime Resi
Black Brick is heading to Hong Kong to capitalise on an international investment trend
Camilla Dell’s buying agency Black Brick is taking a team to Hong Kong after seeing “a surge in interest from Asians looking to invest in the central London property market”.
“A surge in leads” has come through in the last six months, reports the firm, mainly from India, Hong Kong and Saudi Arabia (but also from China, Oman, Lebanon and Singapore). The agency has also completed on ten international-buyer deals in the last 18 months, representing clients from Singapore, Oman, Saudi Arabia, Jordan, India and Lebanon.
Now Black Brick partner Caspar Harvard Walls (pictured) is heading to Hong Kong at the end of this month to charm private bankers, family offices and HNW expats living in Singapore and Hong Kong. “It is extremely difficult for those clients to conduct a London property search from so overseas,” notes Camilla Dell, “so using a buying agent makes sense.”
Camilla Dell, Managing Partner at Black Brick: “Asia has always been a key market for us and with a rise in interest from this region, we are keen to reach out to potential clients who need the services of a buying agent.
“Many Asian buyers can also often be confused by the sheer number of new build developments being advertised by London developers. Even for domestic buyers, it can be very confusing. We are able to help our clients to decide which development to buy above another and the nuances of the market. There are many pitfalls which overseas buyers can make when buying without advice such as overpaying, buying the wrong unit, buying in the wrong location and having the wrong advisors. For example, often developers will push buyers to use their own in-house solicitors and mortgage brokers who may not provide impartial advice.
“We are visiting Hong Kong to address this issue, and to meet with private banks, family offices and other professional intermediaries to spread the message that there is another way of buying. Paying for advice can more than pay for itself and avoid costly mistakes in the long run.”