Wednesday 9 November 2011

Property consultants expect Greeks to up buying in London | Europe | News

Property consultants expect Greeks to up buying in London | Europe | News

Property owners in London could be onto a winner with analysts predicting that Greek real estate investors will be rushing to buy into a safe haven market.

Jones Lang LaSalle, the world's second largest property consultancy, plans to capitalise on an appetite among less wealthy Greeks to move money into the relative safety of London property as political and economic uncertainty grips the country.

The company hopes to start marketing London homes in Greece in the coming weeks at prices from £250,000, below the price bracket of the wealthy, many of whom have already moved money into London property.

It plans to enter partnership deals with Greek companies to sell properties valued at up to £5 million, Jones Lang LaSalle residential director Tim Wright told Reuters. For homes above £5 million the buyer typically travels to view the property for themselves, Wright said.

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