Hong Kong nationals held 25,972 homes across London in 2024, equating to 13.7% of all homes owned by foreign buyers.
Owners from Hong Kong increased by 5.7% year-on-year, the third largest increase across all nations in the top 20.
The analysis comes from lettings and estate agent, Benham and Reeves.
Marc von Grundherr, director of Benham and Reeves, said: “When it comes to foreign buyer activity across the property market, Hong Kongers remain by far the most dominant nation and this has largely been the case since the launch of the British Nationals Overseas Visa in 2021.
“In fact, we’ve seen the overall proportion of market activity accounted for by Hong Kong nationals increase in the last year alone, which demonstrates that demand is not only strong, but it’s growing stronger by the year.
“Of course, there are other factors influencing foreign demand for London bricks and mortar, with more buyers from the United States entering the market following the re-election of Trump, whilst Israel has also entered the top 20 following the heightening of the conflict in Gaza.”
Homeowners from Singapore accounted for the second largest proportion of the market, with 15,635 property titles equating to 8.2% of all homes owned by a foreign national in 2024.
The third most prominent nation was the United States, with 12,405 homes owned across England and Wales in 2024, an increase of 5.5% year on year, accounting for 6.5% of all foreign owners.
The UAE was the fourth most prevalent foreign nation (5.8%), whilst China completes the top five (5.2%), overtaking Malaysia (5.1%). China previously ranked at number six in 2023, however, there has been a 12.9% increase in total homes owned year on year by Chinese nationals – the largest annual increase of all nations in the top 20.
Ireland (4.9%), Australia (4.4%), Kuwait (4.1%), and France (3.6%) complete the top 10.