Middle Eastern investors bought up more property in regional cities such as Bristol and Birmingham last year than they did in London, a new report has revealed.
A total of £880million was invested into cities outside the capital in 2019, compared to £650million in central London, according to global real estate advisor CBRE.
It is the first time investors from the Middle East have spent more money in UK regional cities than in the capital.
Bristol was among the "most preferred" destinations, with millions of pounds being spent on property, including office building Eagle House in the city centre.
Other UK cities that attracted significant investment were Liverpool, Edinburgh, Birmingham and Glasgow.
Andy Sayner, head of capital markets at CBRE in Bristol, said: “In 2019 we saw a number of Middle East investors dispose of their London assets as they reached the end of their investment cycles.
"This group of investors have long been active in cities outside of London having invested £6billion the UK regions in the last five years.
"However, this is the first time regional investment activity has exceeded that in London.
"Investors are increasingly attracted by the high levels of investment into regional infrastructure and the opportunity to achieve greater yields."
However, investment into the UK from the Middle East in 2019 was down on 2018 - falling from £3.7billion to £1.5billion - according to the property advisor.
