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.
They favour the likes of One Hyde Park
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
Beauchamp Estates, which sells some of London's most expensive homes, said properties such as the one above are those favoured
The likes of Aliko Dangote, a Nigerian business magnate and Africa's wealthiest man with a £16billion fortune and Folorunsho Alakija, a billionaire oil tycoon, fashion designer and philanthropist from Lagos. Folorunsho recently bought four apartments in One Hyde Park, a super-exclusive development in Knightsbridge.
Her British-born nephew Rotimi Alakija, a.k.a. DJ Xclusive, has also invested in London.
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
The super-rich are also interested in luxury properties in the 'platinum triangle' which is made up of Mayfair, Belgravia and Knightsbridge
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 per year.
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.
Another reason is historic cultural and community ties.
The third reason is education, with King's School Canterbury, Wycombe Abbey, Cheltenham Ladies College, Eton, Harrow and Bradfield are among the favourite private schools for wealthy families from Africa.
Nigeria is a Commonwealth country and there is a community of 70,000 in London. There are a similar number of Ghanaians in the capital.
Kensington Palace Gardens - known as Billionaires' Row (pictured)...another favourite
Around 80 per cent spend between £15million to £25million on a residential property, with ten per cent spending more than £30million
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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