Published on February 27, 2014
It’s all about the preservation of wealth. The residents of unstable oil-rich countries fear the Arab Spring. The residents of Southeast Asia, China and Russia fear their governments. All are looking for stability. It has become the fashion to “park” money in London. It’s what wealthy people do when they don’t trust the banks, they “park” their money through the purchase of an asset, as a store of value. In this regard, the London property market has become a gynormous piggy bank.