London Luxury: West End Targets High End

London's West End is polishing up its image in a bid to topple Paris, Milan, New York and Tokyo as the top destination for luxury shopping.

A new campaign called London Luxury has been launched by New West End Company, which clusters together 300 luxury retailers into a new district on Bond Street, Oxford Street and Regent Street.

High-end retailers including Burberry, Cartier and Louis Vuitton will work alongside top five-star hotels, such as The Ritz and The Langham, to enhance the shopping experience of the 200 million visitors each year.

A recent study of key affluent international and domestic markets showed that the most rapidly growing markets of overseas shoppers in the West End were from Brazil (up 70%), followed by Australia (up 40%) and China (up 36%).

The Middle East was identified as the most important market as visitors spend an average of £1,334 while shopping around town.

The other important markets were China and Russia, which spend an average of £879 and £789 respectively.

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.