Russian buyers are flooding out of London's property market, according to an amazing Bloomberg piece. Sanctions, bank limitations on withdrawals and the shattered ruble are killing Russian demand for luxury London housing. All but the most wealthy Oligarchs are getting hit by the country's crisis, according to the article: The number of Russians registered through Christie’s International Real Estate to buy homes in the city dropped by 70 percent in a year, said Giles Hannah, the broker’s senior vice president.
Russians Are Flooding Out Of London's Housing Market As The Ruble Crumbles
Mike Bird, Business Insider
Thu, 12/18/2014 - 1:17am
Topics: sanctions oligarchs christie s international real estate giles hannah hannah the london office for national statistics october ordinary russians bloomberg andrew langton aylesford international estate agents italian russian london russians russia russian housing market ruble buyers property year million broker money banks country pounds
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