There was an article just a few days ago about how England - and specifically London - had the greatest per-capita number of billionaires in the world. I suspect that influx of deep pockets is the proximate cause. As to whether its a ‘bubble’ or not, well that depends on exactly why they’re registering property in London (one assumes tax reasons) and whether or not that reason will change any time soon. If Inland Revenue doesn’t make it unpleasant for the big money boys, London City proper could just become another gated community for them…
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