Super-rich foreign buyers are pushing London’s traditional elite out of prime areas such as Chelsea, Hampstead and Mayfair, research by Luna Glucksberg of the London School of Economics shows.
As a result, the old elite are buying in areas previously considered undesirable, with a ripple effect in terms of prices.
The changes at the top end of the market are real, and the ripple effects resonate across London, Glucksberg said.
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The Daily Telegraph, p. 2
