Sunday, July 4, 2010

UAE, Saudi buyers target London's elite homes

Wealthy UAE investors are among the biggest buyers of luxury properties in London, especially in the poshest areas of Belgravia, Hyde Park and Knightsbridge, a new report has revealed.

In a new study of the English capital's real estate market, consultants Knight Frank said UAE investors were sixth in a list of international buyers.

The report said overseas buyers now accounted for more than 50 percent of all prime London residential purchases, with that figure rising to 68 percent in the homes valued at more than GBP5m.

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