Wealthy Indonesians have been on a buying spree for private jets, Ferraris and yachts this year. The list of luxury items is set to soon include London’s prime real estate.

……….. More Indonesians are buying foreign properties as investments, for children studying abroad, or for recreation, Murray said. The units going on sale Wednesday are in Europe’s tallest residential building, The Tower, One St. George Wharf, in Vauxhall, and start at £800,000.

“We noticed over the past six months that Indonesians have been purchasing property through auctions in Singapore. So we are seeing a trend. We’re here for the first time to see how it goes,” he said.

Jones Lang Lasalle already sells 2,000 luxury properties per year, worth around £1bn, to buyers in Singapore, Hong Kong and Malaysia. Indonesia hasn’t showed up on the radar – until now. Read more