Saudi Arabia leads Middle East's luxury property buyers in London
The Middle East made up some of the top buyers of London luxury real estate in late 2022, only falling behind European and UK buyers.
Saudi Arabia leads Middle East buyers of prime property in central London, which reached a four-year high for the region in the second half of 2022, according to the global property firm Knight Frank.
Middle East buyers made up 10.9% of all property transactions in London’s most in-demand postal codes, which hasn’t been comprised of a higher proportion since 2015, reported the consultancy.
The region ranks third, only falling behind the European and United Kingdom buyers.
Head of Knight Frank’s Private Office in the Middle East Henry Faun told Al-Monitor that GCC countries are leading this growth, first with Saudi Arabia, the United Arab Emirates, Kuwait and then Qatar.
