According to DailyMail,
Wealthy African buyers are spending almost £4million on London property every week as they look up exclusive investments in the UK. The recent Ebola epidemic and continued terrorism from groups such as Boko Haram has resulted in an increase in buyers in recent months. The upmarket estate agency said the buyers are coming from six countries – Nigeria, Ghana, Congo, Gabon, Cameroon and Senegal.
Nigerians are the biggest spenders, 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.
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. This is by typically spending between £15million and £25million on each home.
It is thought other tycoons have also been eyeing up homes on Kensington Palace Gardens – known as Billionaires’ Row.