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Chinese boost London's luxury housing market

By Hu Yang (chinadaily.com.cn)
Updated: 2011-06-13 15:28

London's luxury real estate agents have been busy recruiting Chinese-speaking employees thanks to the increasing number of rich Chinese buyers in the last two years.

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More Chinese are flocking to buy high-end properties in London for the sake of children's education or investment.

Just a few years ago, Chinese buyers played little part in the London high-end property market, a place dominated by Middle East and Russian buyers.

Harrods Estates, a high-end realtor in London, says 43 percent of its business now comes from Asian customers, the figure was eight percent in 2008. The increase is seen as largely driven by buyers from China.