The British don't necessarily prefer to buy older properties. They know that the price of almost all new builds includes a substantial developer's premium and you're paying over the odds for what you're getting. As most of us know, Brits are somewhat obsessed with home ownership but we're not stupid. In fact I think the average Brit is very switched on when it comes to buying property (due to the home owning obsession!) Hence why developers had to increase their marketing overseas as Brits just weren't biting at some of the silly prices being asked for. I do still enjoy a chuckle at some of the new build London properties I see being advertised for the overseas market. The hyping of the locations is best....even compared to HK agents some of these adverts are economical with the truth. I guess if you're an overseas investor who's just looking to put your money into property and sit on it, you're fine. But if you're looking for an actual home, there are much better deals to be had.
See that the Duke of Westminster who owns a good chunk of London has sold off 240 million quid of property and is predicting an end to the London bubble particularly at the top end. The difference between the London market and the rest of the country is dramatic.
Many Asians have bought properties in London without even stepping foot into London.
The process is very well established. We have a few ourselves.