In a rather amusing twist of fate, according to a report by the International Inequalities Institute at the London School of Economics, London's wealthy population feels that it is being pushed out of the fashionable parts of the city due to rising real estate prices. The affluent population is finding it hard to keep up while more international buyers are taking advantage of the market.
"Today, 60 percent of properties for sale in [the Belgravia District] go to international buyers," says Curbed, "In the evenings an eerie stillness settles on it. That’s because these new owners are so rich in both money and global property that their London addresses frequently sit empty, functioning more as dust-sheeted deposit boxes rather than actual homes."
Read the full story on CityLab.