[size=17pt]Wealthy Africans spending almost £4million on London property every WEEK as they snap up some of the most exclusive investments in the capital
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Super-rich oligarchs spending almost £4million-a-week on London property, new report by estate agent reveals
More than £600million has been spent in the capital by Africans within the last three years and its on the increase
Cultural ties, education and wealth all factors in move to UK, as well as risk of terrorism in home nation and Ebola
Report shows the wealthy buyers are mostly from areas in [size=17pt]Nigeria, Ghana, Congo, Gabon, Cameroon and Senegal
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Wealthy African buyers are spending almost £4million on London property every week as they look to snap up exclusive investments in the UK, it has emerged.

Super-rich oligarchs are taking their vast resources and investing them in the safe haven of London property - with more than £600million spent in the capital in the past 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.
While African buyers only account for 1.5 per of transactions in the 'ultra prime' London market, they make up five per cent of sales by value - up from two per cent.

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Nigerians are the biggest spenders[/size], with wealthy nationals forking out £250million on London homes in the last three years.

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.


Gary Hersham, managing director of Beauchamp Estates, revealed he has had three super-rich Nigerians enquiring about homes in the past week alone. This is despite the average person in Nigeria earning just £850 per year.

He said: 'I've had an upturn in African buyers over the last few months.

'The situation in West Africa at present is pushing rich African buyers back into Central London at a significantly higher level than is normally experienced.

'While war, disease and terrorism in West Africa grab media headlines, actually for super-rich Africans its domestic wealth, cultural ties to London, general safety and education for their children that are the key attractions for buying a home in central London.'

Mr Hersham said these super-rich look to buy property in the 'platinum triangle' which is made up of Mayfair, Belgravia and Knightsbridge.

Around 80 per cent spend between £15million to £25million on a residential property, with ten per cent spending more than £30million.

If they are not buying, they are renting luxury homes for up to £15,000-per-week and staying for between six weeks and three months per year.

London's reputation for having a residential property market, which is secure and a stable investment, is one of the main reasons wealthy Africans are buying, according to Beauchamp Estates.

Another reason is historic cultural and community ties.

Nigeria is a Commonwealth country and there is a community of 70,000 in London. There are a similar number of Ghanaians in the capital.
It is thought the property tycoons have been eyeing up homes on Kensington Palace Gardens - known as Billionaires' Row (pictured)


The third reason is education, with King's School Canterbury, Wycombe Abbey, Cheltenham Ladies College, Eton, Harrow and Bradfield are among the favourite private schools for wealthy families from Africa.

According to the Nigerian embassy, Nigerian nationals spend more than £300million-a-year on tutoring, accommodation, fees and equipment at British schools and universities.

Mr Hersham added: 'It is going to be the African century.

'Continental African buyers or luxury tenants in London are currently where the Russians and Ukrainians were five years ago.

'At present virtually all the transactions are for end use, not rental investment, which indicates that the African buyer market in London has significant room for growth and maturity.

'Nigerians have been long standing property purchasers in the central London market, going back to the early 1980s.

'However, in the 1980s and 1990s they typically purchased houses in North London, in Hampstead, St Johns Wood and Primrose Hill.

'Now, enhanced wealth has enabled them to move into the ultra prime market in Mayfair, Belgravia and Knightsbridge, and have been joined by affluent purchasers from other West African and French equatorial states.'



Read more: http://www.dailymail.co.uk/news/article-2808556/Wealthy-Africans-spending-4million-London-property-WEEK-snap-exclusive-investments-capital.html#ixzz3HLu7HJZI

Lol. What an irony. America , Europe and China scrambling for undeveloped Africa, Africans scrambling for developed London.

Something is amiss somewhere.

Super-rich African oligarchs are taking their vast resources and investing them in the safe haven of London property - with more than £600million spent in the capital in the past three years and £4million spent in the city every week. They favour the likes of One Hyde Park

Folorunsho Alakija, a billionaire oil tycoon, fashion designer and philanthropist from Lagos, is a big investor in the London market

The wealthy buyers are typically spending between £15million and £25million on each home and are purchasing luxury properties

Beauchamp Estates, which sells some of London's most expensive homes, said properties such as the one above are those favoured

Nigerians are the biggest spenders in London, with wealthy nationals forking out £250million on homes in the city in the last three years

African buyers make up five per cent of sales by value in the 'ultra prime' London market - up from two per cent in recent years

Beauchamp Estates said the African buyers are coming from six countries - Nigeria, Ghana, Congo, Gabon, Cameroon and Senegal

The super-rich look to buy luxury property in the 'platinum triangle' which is made up of Mayfair, Belgravia and Knightsbridge

It is thought the property tycoons have been eyeing up homes on Kensington Palace Gardens - known as Billionaires' Row (pictured)

London's reputation for having a residential property market, which is secure and a stable investment, is one of the main reasons wealthy Africans are buying, according to Beauchamp Estates

Around 80 per cent spend between £15million to £25million on a residential property, with ten per cent spending more than £30million

If they are not buying, they are renting luxury homes for up to £15,000-per-week and staying for between six weeks and three months

The Topic Should Be Nigeria Political Thieves Buying Estates in London

Thanks

homerac7:
Lol. What an irony. America , Europe and China scrambling for undeveloped Africa, Africans scrambling for developed London.

Something is amiss somewhere.

^^^We need to emancipate ourselves from mental slavery.....non but ourselves can free our our own mind!

Holy Moly ! That is the stuff dreams are made of.

Thanks to nepotism, a former hair-dresser to former President Obasanjo's wife got handed oil wells through the side-door, and now is buying up London. Who says crime doesn't pay ? Who would NOT, if given the chance to steal an oil fields, grab that fleeting opportunity with both arms ?


Those homes are simply mind blowing. Live in a place like that and you would have to fight back all those hot London city girls seeking your attention and donations, of course.

Yoruba oil thieves buying up London.

Collynzo29:
Yoruba oil thieves buying up London.

bigots are depressed people.

It is also a primal behaviour of man which means its a behaviour closer to what cavemen and Animals exhibited to protect themselves.

I.E ; Bigots are lesser men. #FACT.

Folorunso Alakija- This woman is from Ikorodu in Lagos state. The Ikorodu-Ogijo-Sagamu road(albeit a federal road)is in a very bad condition. The 4th mainland bridge which would link Lagos Island to Ikorodu still remains a campaign manifesto till date. With all her wealth and affluence there is nothing stopping Folorunso Alakija from championing the construction of these infrastructures in her home city instead of buying mansions in the U.K

To be honest though, there is not that much difference in price, between the best mansions in Lagos or Abuja and a house in the best areas of London.

[size=17pt]Here are some of the Comments on dailymail[/size]

iceicebaby, Exeter, 20 hours ago

Should be investing in their own country...putting an end to the severe poverty, poor health,slums,lack of fresh water,medical treatment and poor sanitation... Disgraceful that they flaunt their wealth whilst the rest of the world pays to give their poor some sort of hope...

dontwo Hull, hull, United Kingdom, 20 hours ago

And the moral of this story is "Charity is money given by poor people in rich countries to rich people in poor countries". Remember that the next time you feel like giving.

Anon, Pluto, Germany, 20 hours ago

nice to see that blood money is so welcome in London. Maybe they should really sort out their own countries instead of letting their people live like a rat in a hole.

PollyToynbeesBrother, London, United Kingdom, 20 hours ago

It's good to see that our overseas aid is actually being spent in this country.

MstBaster, London, 20 hours ago

Rich? Must be all those 419 scams they keep carrying out!


Tim, Birmingham, United Kingdom, 15 hours ago

It's comforting to know that the majority of the 12 Billion pounds give in aid in 2013 is being invested into London property. But the again am I a cynic, or perhaps a realist?

Familylady, Kent, United Kingdom, 20 hours ago

You have to wonder where the money came from in the first instance, what do they have to sell to make such fortunes?


tonyb, Shrewsbury Shropshire, 19 hours ago

So do they still need our money?


Kathy, Gourock, 16 hours ago

We should stop giving as much money in aid when they have people of there own who could fund money towards building a decent hospital as well as housing for the people of the country instead of relying on us in the west to give all the time.

londoner:
To be honest though, there is not that much difference in price, between the best mansions in Lagos or Abuja and a house in the best areas of London.

So a mansion in Lagos or Abuja is worth £15million- £25million or didn't you read the article? convert that to Naira and see.

We all thought shagari was bad enough but
Jonathan is something else.
The worst thing is that virtually almost all Nigerians are involved in one criminal enterprise or the other.
The entire country is one huge crime infested jungle.

This government sef...buying up london since 2011.

RockMaxi:




Please don't screw records and turn facts upside down. Say only the things you are sure of.
Alakija was given the oil block that brought her to prominence in 1993 by the Babangida's administration.

I heard differently sir, but hey, at least we agree that the woman was given oil wells through the back door, as though those multi-BILLION dollar areas of seaboard were private property, and not the national assets that they truly are supposed to be.

So in summary we agree that the woman is a beneficiary of an ILLEGAL oil block allocation, but the details on which particular administration facilitated the mega-theft remain in dispute among observers. Six of one, half-dozen of the other, I'd say.

Its true; when I purchaced my 1st victorian mansion @ northhampton ave. In greater london, I taught I was the only african there. But it turned out most of my neighbours were africans mainly Nigeria

benega:
Its true; when I purchaced my 1st victorian mansion @ northhampton ave. In greater london, I taught I was the only african there. But it turned out most of my neighbours were africans mainly Nigeria

Would that be one of the first half-dozen London mansions that you acquired, as the jet setting fella that you are ?

Arch1:
Folorunso Alakija- This woman is from Ikorodu in Lagos state. The Ikorodu-Ogijo-Sagamu road(albeit a federal road)is in a very bad condition. The 4th mainland bridge which would link Lagos Island to Ikorodu still remains a campaign manifesto till date. With all her wealth and affluence there is nothing stopping Folorunso Alakija from championing the construction of these infrastructures in her home city instead of buying mansions in the U.K

Do you think they have brains? That one was she not some hairdresser or something before Abacha's wife dashed her an oil block for plaiting her hair right? A lot of these monied people are semi literates who don't reason intelligently, so don't be surprised she has million dollar mansions in London while the road to her town is dilapidated.

ROSSIKE:


Do you think they have brains? That one was she not some hairdresser or something before Abacha's wife dashed her an oil block for plaiting her hair right? A lot of these monied people are semi literates who don't reason intelligently, so don't be surprised she has million dollar mansions in London while the road to her town is dilapidated.

You ain't lyin' my brother. Most illiterate hair dressers, if handed billions of dollars, would embark on serial shopping sprees to amass fancy clothes, cars and houses, but would NEVER be interested in wasting all that hard-stolen money fixing highways for the poor rabble to use. Thieves are generally selfish and greedy by nature, so they are not going to be seen undertaking charitable gestures of any sort, not now and not ever.