London luring homebuyers from Middle East - The National
The number of Middle East homebuyers in London has doubled in recent months as investors seek a haven, agents report.
"The Arab Spring has had a direct and meaningful impact on the central London residential market," said Liam Bailey, the head of residential research for the consultancy Knight Frank.
Buyers from Bahrain, Iraq, Oman, Lebanon and Saudi Arabia led the surge, Mr Bailey said. The volume of buyers from the region increased by 100 per cent from January to May compared with the same period last year, he said.
Other London agents report similar increases in Middle East activity.
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