According to a new report, super wealthy Africans are spending almost £4million on London property every week as they snap up some of the most exclusive investments in the capital, this is according to Real Estate agents in the UK.
More than £600million has been spent in London by Africans within the last three years and its on the increase. The wealthy buyers are from Nigeria, Ghana, Congo, Gabon, Cameroon and Senegal, UK Daily Mail reports.
Nigerians are the biggest spenders, with wealthy nationals forking out £250million on London homes in the last three years. A mixture of traditional reasons combined with increased terrorism and the outbreak of Ebola is said to be behind the dramatic influx of African money to the capital.
The new wave of super-rich includes Aliko Dangote, a Nigerian business magnate who, with a £16billion fortune, is Africa's wealthiest man.
Folorunsho Alakija, a billionaire oil tycoon, fashion designer and philanthropist from Lagos, is also a big investor in the London property market. She recently bought four apartments in One Hyde Park, the super-exclusive development in Knightsbridge.
Her British-born nephew Rotimi Alakija, who also goes by the stage name of DJ Xclusive, has also invested property in the capital.
It is thought other tycoons have also been eyeing up homes on Kensington Palace Gardens - known as Billionaires' Row.
The wealthy buyers are typically spending between £15million and £25million on each home and are purchasing luxury properties
Source: UK Daily Mail
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