Euro-flight to London Should Further Pressure Property PricesPosted: May 14, 2012
Reuters reports that Greeks and Spaniards trying to escape economic and currency woes in their native countries are running to London in increasing numbers. The wealthier of these immigrants are snapping up property in London in attempt to protect their assets. The (average?) price for prime central London properties has increased by 44% over the last three years. Prices in London as a whole have increased at half that rate.
For more details and stories from specific immigrants see “Euro zone turmoil boosts London property stampede.”