City Of London
Americans Cash In Strong Dollars to Scoop Up Luxury London Homes
- US buyers make up the bulk of buyers of prime London property
- One agent says five of last six sales were to American buyers
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London real estate broker Charles McDowell has sold six luxury central London homes in the last six months. Five of the buyers were American.
The broker’s recent sales involve homes in affluent areas including Holland Park, Notting Hill and Chelsea. Three of the properties sold for over £25 million ($29.4 million), while another nearly hit the £50 million mark. At least half of the sellers were British, he said.