So is Britain a safe haven or a banana republic? Britain's huge budget deficit is heading towards 12 per cent, just one percentage point short of the Greek total, and this scares Britain's bankers, currency traders and tabloid newspaper editors, but it has not fazed the Greeks.
The number of Greeks buying central London homes has doubled over the past 12 months estate agency, Knight Frank, says. Six per cent of buyers of London homes valued at £2million or more are Greeks trying to get their money out of their own imploding economy. Germans, Italians and others from the troubled Euro-zone are piling in behind them.
Wealthy Chinese families are making their presence felt at London estate agents office for the first time. They are buying homes, so their children can be educated in British schools and “enjoy a better way of life” they tell estate agents. Somebody should tell London's Sterling-bashing currency traders.
http://globalpropertynews.blogspot.com
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