Yesterday we wrote about the geographic makeup of people who were buying property in London.
There were some fascinating trends. Most notably, lots of high-end London homes are being bought up by the Chinese... but the REALLY high-end homes are being bought up by the Russians, and other Eastern Europeans.
So why's everyone buying in London?
This chart from Deutsche Bank and Knight Frank sheds some light.
Basically, it's a combination of existing networks in the city, geopolitical concerns elsewhere, a weak pound, and easy financing.
Not of particular concern: UK taxes or government intervention in the market.
Deutsche Bank, Knight Frank
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- Knight Frank
- Deutsche Bank