Lower taxes lure foreign buyers to spend £4bn on London properties | Business | The Guardian

Lower taxes lure foreign buyers to spend £4bn on London properties | Business | The Guardian

Britain's "benign, tax efficient" property laws have encouraged super-rich foreigners to buy up more than £4bn of luxury property in London this year.

A string of property experts said the world's super-wealthy were flooding to London to buy £40m homes "without giving it a second thought".

In total foreign buyers bought up £4.3bn of prime central London property this year, compared with £2.1bn in 2010, according to research by Savills, the estate agent.