London’s Best Districts Draw Buyers on Italian Triple Dip

Italians were the biggest group of foreigners to buy homes in London’s best districts in the seven months through July as weak domestic growth prompted investment abroad.

Italy, which fell into a triple-dip recession in the second quarter, accounted for 6.7 percent of all homes sold in the 13 neighborhoods that Knight Frank LLP defines as prime central London, the broker said in an e-mail today. France was second as euro-area investors accounted for 14.5 percent of purchases, the most in the period since 2011. Russia led the group a year ago, followed by the United Arab Emirates.