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Luxury London homes attract many of Africa’s biggest spenders

isaac

May 4, 2015 6:15 PM

London, one of the most visited cities in the world, has been attracting the likes of a host of wealthy African investors as it sees African buyers spending up to £4 million on property in the city each week.

Folorunsho Alakija

With more than £600 million spent in the cities property investments over the past three years, it is clear that the London property market is becoming a safe investment haven for many African investors specifically those from Nigeria, Ghana, Congo, Gabon, Cameroon and Senegal.

Amongst the big spenders, it has been noted that the biggest purchases and investments have emerged from Nigerians who have spent over £250million on homes in the city in the last three years.

In an article released on CNN, it is suggested that the influx of African Investors into London may be due to the recent Ebola epidemic as well as terrorism activity from groups such as Boko Haram.

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isaac