Italians have surpassed Arabs and
Russians to become the lead buyers of high-end homes in London's
elite neighborhoods, Knight Frank real estate consultants
reported Wednesday.
Italians made up 6.7% of overall luxury home purchases in
the first seven months of the year, Knight Frank said.
Citizens of the Bel Paese favored properties in the upscale
Chelsea, Knightsbridge, and South Kensington areas, spending an
average of 5.5 million euros each, according to the consultants.
The French followed with 4.1% of purchases, while the
Russians, who led the pack a year ago, came in third.
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