The sale of development land in London has reached the highest quarterly level since 2007, according to CBRE.
The agent says £1.8bn of land was traded in Q2 2015, bringing the total for the year to £2.9bn.
Foreign investment has driven purchases, making up 73% of transactions by volume, particularly targetting big ticket sales.
Four of the five largest value asset sales worth more than £100m were completed by foreign investors, although they only made up eight of the 26 land sale in Q2.
CBRE central london development senior director Alastair Perks said: “London’s development market is accelerating at a rate of knots, eight years after the financial crisis caused a significant contraction in both residential and commercial activity. Foreign money has largely driven this, accounting for four of the five biggest deals of the quarter, the same number of high-value assets bought by international investors in the whole of 2014.”
