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GreekReporter.comEuropeIncreasing Number of Wealthy Greeks Invest in London Property Market

Increasing Number of Wealthy Greeks Invest in London Property Market

The Greek debt crisis and its political dimensions are prompting increasingly more wealthy Greeks into purchasing property in the British capital as a form of beneficial investment.

According to an extensive Reuters report, expensive houses in London have become the main economic attraction lately not only for prosperous Greeks but the Spanish, Italian and Portuguese as well.

The Greek crisis and the ongoing recession and political instability are the main reasons why wealthy Greeks choose to transfer their money from their domestic bank accounts and invest it abroad.

Ever since the Greek crisis broke out, Greek people have been moving to London in search of a better life and job opportunities. Their number seems to have spiked in the past few months, while most of them are well educated or qualified unemployed people.

According to a property agent cited by Reuters, instability within the Euro Zone seems to positively affect the London property market. Properties in central London have witnessed a 44 percent spike in their prices due to the increased interest of potential buyers and investors.

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