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Wednesday, February 18, 2009

Gulf buyers storm luxury London homes market


Gulf buyers of luxury properties in London almost doubled in 2008, Harrods Estates, the real estate arm of the UK’s Harrods Group revealed on Wednesday.

Buyers from the UAE, Qatar, Kuwait and Bahrain accounted for 31 percent of the firm's total purchasers in Central London last year, up from 17 percent in 2007, Shirley Humphrey, sales and marketing director of Harrods Estates said in a release.

There had been noticeable demand for properties in traditionally favoured areas in London, such as Knightsbridge and Mayfair, she said. Prices of the property start from $7m.

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