Saturday, 31 March 2007

London sells out

According to elite London real estate agency - Knight Frank - foreigners in the past 12 months have bought more than half of the real estate properties in London valued at between 2 million and 4 million pounds.

One in every five buyers of elite residential real estate in London, valued at over 6 million pounds, is Russian,

In the 1960s, more than 90% of London’s real estate was bought by Britons. Today, it is less than half. In New York foreigners own 34% of elite real estate properties, in Paris 27%, in Hong Kong 13% and in Sydney 9%.

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