London overtaken by Paris in property for first time

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Paris was a more popular destination for property investment than London this year, the first time on record.

This is according to property group CBRE, which found that the French capital topped the list of destinations for investment in property amongst leading global cities.

London came second, followed by New York, Singapore, and Shanghai.

As The Times reports, the change in London's fortunes is being attributed to deepening concern over the impact of Brexit.

The CBRE said the shift in mood amongst international investors seemed to be particularly notable amongst Asian investors, who have become some of the biggest buyers of central London property.

The study found that property investment is down by a third in central London so far this year when compared with 2018.