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Sunday, 26 October 2014

Super rich Africans spending almost £4million on London properties every WEEK


According to reports, super rich African buyers are spending almost £4million on London properties every week, buying exclusive investments in the UK, with more than £600million spent in the capital in the past three years.

 Increased terrorism and the outbreak of Ebola is said to be the major reasons behind the dramatic influx of African money to London.


Super-rich African oligarchs are taking their vast resources and investing them in the safe haven of London property - with more than £600million spent in the capital in the past three years and £4million spent in the city every week. They favour the likes of One Hyde Park
They favour the likes of One Hyde Park
 
Folorunsho Alakija, a billionaire oil tycoon, fashion designer and philanthropist from Lagos, is a big investor in the London market
Folorunsho Alakija, a billionaire oil tycoon, fashion designer and philanthropist from Lagos, is one of the big investors in the London market
 
The wealthy buyers are typically spending between £15million and £25million on each home and are purchasing luxury properties
The wealthy buyers are typically spending between £15million and £25million on each home
 
Beauchamp Estates, which sells some of London's most expensive homes, said properties such as the one above are those favoured
 
Nigerians are the biggest spenders in London, with wealthy nationals forking out £250million on homes in the city in the last three years
African buyers make up five per cent of sales by value in the 'ultra prime' London market - up from two per cent in recent years
African buyers make up five per cent of sales by value in the 'ultra prime' London market
 
Beauchamp Estates said the African buyers are coming from six countries - Nigeria, Ghana, Congo, Gabon, Cameroon and Senegal
Beauchamp Estates said the African buyers are coming from six countries - Nigeria, Ghana, Congo, Gabon, Cameroon and Senegal
 
The super-rich look to buy luxury property in the 'platinum triangle' which is made up of Mayfair, Belgravia and Knightsbridge
 
It is thought the property tycoons have been eyeing up homes on Kensington Palace Gardens - known as Billionaires' Row (pictured)
London's reputation for having a residential property market, which is secure and a stable investment, is one of the main reasons wealthy Africans are buying, according to Beauchamp Estates
Around 80 per cent spend between £15million to £25million on a residential property, with ten per cent spending more than £30million
Around 80 per cent spend between £15million to £25million on a residential property, with ten per cent spending more than £30million
 
If they are not buying, they are renting luxury homes for up to £15,000-per-week and staying for between six weeks and three months
According to the Nigerian embassy, Nigerian nationals spend more than £300million-a-year on tutoring, accommodation, fees and equipment at British schools and universities.



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