propertytalk Live! - Cash-rich Europeans flood Prime London market
Cash rich Europeans are accounting for 60% of property purchases in prestigious London W1, as concerns over the future of the Euro grow, reports property consultants Sandfords.
Ireland and Portugal's mounting debt problems and the potential impact on the value of the European currency, is prompting a surge of interest from European cash buyers, who are keen to move some of their wealth into London prime property which is expected to perform strongly over the long term.
This is helping to sustain property prices in prime London postcodes, a trend which looks set to continue next year.
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