Wealthy Greeks Drive Up London’s Luxury Home Prices in ‘Safe Haven’ Buying

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London’s Knightsbridge area is one of those that has attracted Greek buyers.

The U.K. has a record budget deficit, weak economic growth and may soon face a hung parliament. For wealthy Greeks, it’s a safe haven.   Greek buyers now account for 6 percent of all purchases of London properties costing more than 2 million pounds ($3 million), double the average of the past three years, as they try to protect their assets from the country’s debt crisis, London-based Knight Frank said in an e-mailed statement today.

 

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