How Osama bin Laden helped push up prime UK house prices – Telegraph Blogs

How Osama bin Laden helped push up prime UK house prices – Telegraph Blogs

Tragic events in New York a decade ago have had several unexpected consequences on this side of the Atlantic but surely the least likely to have been foreseen is an increase in prime residential property prices.

Charles Ellingworth, a director of Cadogan Estates and founder of the HSBC subsidiary Property Vision, told me: “Wealthy Arabs don’t feel welcome in America any more and so they have bought the top end of the British market instead.

“The effect has been quite dramatic. Walk around Sloane Square at night and all the lights are off. The owners don’t live there any more, they just visit for a couple of weeks a year.”