London property draws the rich from crisis-hit countries

London

POLITICAL and financial upheaval in some of the world's largest emerging economies is driving a new wave of rich migrants to London's supercharged property market as a place to park their wealth, data from a leading real estate agency showed yesterday.

Knight Frank, a specialist in upmarket properties, said that it had seen online enquiries about British homes from crisis-hit countries such as Argentina, Ukraine and Turkey soar over the past year. "There is potentially a further wave of investment headed for the prime central London property market," Tom Bill, associate in the Knight Frank residential research team, told Reuters.