Buyers from mainland China are now the biggest spenders in the prime central London property market, overtaking Russians as the buyers of the most expensive houses over the past year, according to new research.
Chinese buyers spent an average of ￡6.5m on top-end property purchases in the 12 months to the end of February, outspending the 60 other nationalities that have bought in London over the same timeframe.
According to figures from Knight Frank, investors from Malaysia and Hong Kong were the next biggest spenders, paying average purchase prices of ￡6.2m and ￡5.5m respectively.
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