Rich Chinese spend billions on high-end real estate in London

Parents from abroad buy London properties to use as a basis to search for schools or to visit their sons and daughters over time. The picture is a 16-bedroom house in Chelsea

Rich Russians and Chinese buy high-end real estate in London, so they can be in private schools near their children

City & Finance Reporter for the Daily Mail

Rich foreigners spent £ 2 billion last year on high-end property in London, so they can be close to their children at the best private schools and universities.

Parents from abroad buy houses to use as a base to search for schools or to visit their sons and daughters for a longer period, discovered a survey by broker Knight Frank.

The families mainly come from Hong Kong, the mainland of China and Russia.

Parents from abroad buy London properties to use as a basis to search for schools or to visit their sons and daughters over time. The picture is a 16-bedroom house in Chelsea

Parents from abroad buy London properties to use as a basis to search for schools or to visit their sons and daughters over time. The picture is a 16-bedroom house in Chelsea

Respondents said their greatest motivation is the quality of education, the prestige of a school and the ability to help children get a top job or visit a famous university.

After the UK, the US was the next most popular place for foreigners to send children to school. Canada and other EU countries came together as third parties together.

Liam Bailey, from Knight Frank, said: "The majority of foreign buyers do not seem alarmed by the impact that Brexit can have on the UK as a place to raise their children and there are even signs that it is more attractive has become for some in the United States. last 12 months. & # 39;

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