NUMBER OF SECOND HOMES IN THE CAPITAL SOARS ABOVE ¼ MILLION, WITH 63,000 PEOPLE OWNING TWO HOMES IN LONDON
Last Monday the Evening Standard reported that ‘nearly a quarter of a million people have a second home in London which they only live in part-time’. A large number of these second homes are bought by overseas investors, often from the Middle East and Russia, who view prime central London as a secure long-term investment. Mayfair and Belgravia in particular, are popular with these buyers and many have no intention of living in them at all. Families with both a London home and a second holiday home make up the largest share of this figure but a staggering 63,000 properties are