Properties in London is going into Italian and Greek pockets

One of the most common solution to invest money in times of economical storm is buying houses. 

But where?

London is on the top of the list, not only for the requests but also for the prices. The UK's metropolis has pulled away New York, Paris and Hong Kong in the high prices and still been the main housing stock market. 

Nowadays the major of the richer investors are Italians and Greek. This years they are hitting the sales-ceiling. According to the Financial Time by far 2011 they spent an average of £ 406m in the housing market maket , compared to £ 245m last year, with an increase of 30% in numbers. 

The reason of this boom in spending on London bases is connected to the dramatic financial crisis in the Eurozone. Italy and Greece are the most affected countries. 
The Euro is falling down and the investors need to find a safe way to secure heir money. 

The Elite pockets is flying to London for many reasons:

• The UK is safe in terms of rules and property's management
• The pound is more strong valuable than the euro
• The City is editing, younger and one of the most dynamics in Europe.

 

Buying in Italy or in Greece is not a good investment at all because the euro and the lack of credibility in the market. The value of houses in these countries is insecure and tends to go down and get more problems whether do you want to sell or rent. 

London is a free port, as Swizzerland years ago. The areas more requested by Greek and Italian buyers are always the same posher and richer: Kensington, Chelsea, Mayfair and Knightsbridge. They believe these are the best parts of the City. Also  Notting Hill and Holland Park are becoming quite popular.

The wealth heaven of Italian and Greek is expected to grow more (Financial Times).

The rise of sales implies that the price of the houses is still going up. 

However London is not a piggy-bank to store wealth. 
The normal people live in the City and they deal every day with inflation, high prices and unemployment. The City can't permit an overwhelming of forein investors invading the market. The result is so hight prices in the housing market despite the economical possibilities of the majority of the people. They will get crazy about the market and this is not fair. 

Afterwards there will be a divide between the richer and foreign people and the real London. 
This scenario will damage the reputation of the City and the daily life of the citizens. 
London will become a ghost town to commute in for work, to visit, to have for representation and a good storage for money savings.