New Central London tenancies under LCP management from Hong Kong, Singapore and other Asian tenants – worth more than one billion GBP – were up from 5% in 2020 to 15% in 2021. Hong Kong and Singapore investors comprise over 40% of LCP's active clients.

"The return of tenants from the Asia-Pacific region is an indication of how popular London remains as a global destination of choice for those wishing to further their education within the prestigious UK education system alongside those taking up employment opportunities," said Andrew Weir, Chief Executive of LCP.

"The second half of 2021 felt as though we received two years' worth of tenants all arriving back into London at the same time. Perhaps the simultaneous and sudden return of tenants from the Asia Pacific region, both previous and new alike, was inevitable after the disruption to traditional seasonality created by the pandemic and various UK 'Lockdowns'.

Agreed rents on new tenancies also improved throughout 2021 due to increased demand and competition as tenants returned to prime London. Q4 2021 witnessed an average 11.07% increase on preceding lease levels, correcting the deep discounts that were granted during the same period in 2020.

LCP is renowned among London's premier real estate agencies for its track record of smart sourcing and acquiring, refurbishing and meticulously managing prime residences for international investors. By specialising exclusively in Prime Central London comprising the two boroughs of Kensington & Chelsea and Westminster, the agency has become the leading expert in what is almost certainly the most sought-after international real estate market in the world.

For a full copy of the 2021 London Central Portfolio leasing trends report, please click here.