Asians make up approximately 50 per cent of all investors in the central London new-build market, according to research looking at the 12 months between March 2010 and 2011. Buyers from China and Hong Kong lead the way, followed by Singaporeans and Malaysians.

Trends have changed and many are now looking to purchase bigger two- to three-bedroom apartments in the £1 million (Dh5.95 million) to £2.5 million price bracket, rather than studios and one-bedroom apartments.

Concerns that the Asian markets are starting to overheat are driving investors to the UK. The old colonial ties between the UK and parts of Asia mean that many people traditionally send their children to study at London universities and buying properties for them to live in.

‘No match'

This is backed up by the Berkeley Group, London's largest volume housebuilder, who said that of the 2,000 homes it sold in the previous year, more than 30 per cent were to buyers in China and India. This compared with a historic average of 10 per cent.

Rob Perrins, chief executive of Berkeley said in the interview, "The demand from sophisticated investors, who want to get money offshore and into a stable investment, or want a place for their children to live in when they come here for university, has no match in the domestic market."

Telford Homes, the east London focused-group, said the appetite from foreign buyers had allowed it to launch developments that would not have been possible to sell to domestic buyers. The group sold 70 out of 118 apartments in its Matchmakers Wharf development to buyers in Hong Kong, Singapore and Malaysia.

Barratt Developments said that it was planning to sell a third of the 750 homes it built in London last year to Asian buyers, compared with about 5 per cent in a normal market. "A lot of them have cash, or at least easy access to it, which you just don't see with the local buyer anymore," said Gary Patrick, London sales director for Barratt.

The result of this new obsession is that Middle Eastern buyers and other nationalities (including domestic UK buyers) simply do not get a look-in on certain new developments. Many sell out completely, off-plan, even before the foundations are dug and without ever being released onto the general market.

Now, more than ever, specialist advice is being sought by international investors seeking London properties to ensure that they are made aware of those "secret" off-plan developments which are destined to be sold in the Far East. Market knowledge advantage is definitely the name of the game when buying in new build developments in London.

The writer is the chairman of Kay and Co, the London based estate agency.