Skip to content
Subscriber Only

Overseas Investors Bought Half New Central London Homes

People living outside the U.K. accounted for about half of all new home purchases in London’s best neighborhoods as affluent investors sought a safe haven from turmoil in the Middle East and Europe’s debt crisis.

Foreign-born buyers, including those living in the U.K., made 69 percent of new-home purchases in London’s prime areas in the two years through June, while those living abroad bought 49 percent of the homes, Knight Frank LLP said in a report today. About 28 percent of those who bought central London homes worth 1 million pounds ($1.6 million) or more in the year through June don’t live in the U.K., the broker said.