30.06.2011 - Foreigners spend GBP3.7bln a year on London residential property

Overseas investment into London real estate is running at £3.7 billion a year and at this rate, foreign buyers will own all residential property in Greater London by the middle of the next century, according to Savills. They are responsible for 34% of all London property transactions although most investment is channelled into high-value residential properties areas such as Mayfair, Kensington, Notting Hill and Chelsea..............................................Full Article: Source

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