Foreigners Bought Half Of All London Homes Selling For Over £1 Million

see graph at link!!

http://www.zerohedge.com/news/2014-02-16/foreigners-bought-half-all-london-homes-selling-over-%C2%A31-million

Foreigners Bought Half Of All London Homes Selling For Over £1 Million
Tyler Durden's picture
Submitted by Tyler Durden on 02/16/2014 13:33 -0500

Middle East
Real estate
United Kingdom

Actually, according to the first detailed estimate of international purchase activity in London by Knight Frank, the percentage of all central London homes that sold for more than 1 million pounds to foreigners in the 12 months through June 2013, was 49% to be exact. And as we showed yesterday when we put China's loan creation in the context of US and Japanese QE, keeping in mind the use of proceeds of all this newly created inside money has to ultimately go somewhere - that somewhere in this case being London and other global luxury real estate, said percentage is only going to get higher. Especially when one adds Russian, the middle east and other various regions whose oligarchs are desperate to park their money in "safe" havens.