Foreign students fuel London housing boom
Property prices in prime London locations are soaring as foreign investors buy homes for student offspring (Catherine Boyle writes).
The weakness of sterling against the yen, dollar and dirham has helped parents to buy in Kensington and Westminster, where prices are rising by about 20 per cent a year, according to the property company CB Richard Ellis. It says that Chinese buyers will become major investors. Universities struggling for cash are actively recruiting foreign students, who pay higher fees.
“The Times” 27.08.2010