Tempted by lower prices, rich Russians are back snapping up prime London properties - and it's slowing the fall in the market there, say real estate brokers.
Compared to its peak back in March 2008, prime real estate in London has fallen by almost 23 per cent. That, coupled with the fall of the British pound, puts buyers with U.S. dollars and euros at a distinct advantage.
Since most Russians with substantial wealth stash their hoard in dollars or euros, they have not been as hard hit as you might expect from the dwindling rouble. Indeed, buying property in Britain still seems to be a very attractive option for those with money to spare.
