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Indians, other foreigners outdoing British in buying large county homes | Nearly a third of the large country houses sold
in Britain in the past four years have been bought by foreign buyers, a new research has revealed. More and more foreign buyers, mainly Russian, Chinese, Middle Eastern
and Indian, are outdoing traditional owners of rural retreats in the home counties
and immersing themselves in hunting, shooting and other rural pursuits, Times
Online reports. According to Savills, the estate agent, 30 per cent of all properties
sold for more than four million pounds in the past four years, were bought by
international buyers. Swedish billionaire Stefan Persson , who owns fashion giant
H&M, recently paid 25 million pounds for the Linkenholt country estate near Andover
, Hampshire. The estate includes an entire village and is Persson’s second rural
retreat. He already owns a 6,500-acre site near Marlborough , in Wiltshire, where
he hosts partridge and pheasant shoots. Foreign buyers have been boosted by the
fall of the pound against other currencies. There are now twice as many foreign
buyers as sellers, the agent said. For foreigners with more than two million pounds
to spend, Surrey is the prime target, followed by West Sussex, Berkshire and Kent
. The southwest is also becoming more attractive to international buyers. Over
half of all properties bought in London for 1 million pounds or more during the
past year went to international buyers. According to a Savills’ research, 43 percent
of buyers of properties worth more than two million pounds work in the financial
services sector. |
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