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R>Buyers from Middle Eastern countries such at Egypt, the United Arab Emirates, Israel and Jordan spent 50% more on property in central London last month, it is claimed.
They are moving their money away from the region and putting it in bricks and mortar in London as it is regarded as one of the safest places to invest and also move to.
Internet traffic from the Middle East to Knight Frank's catalogue of homes in London's priciest neighbourhoods, such as Mayfair and Knightsbridge, jumped 10% in the year to October. The firm estimates that Middle East buyers spent 50% more in October than the same month last year, paying an average of
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