Americans have become the largest group of overseas buyers in prime central London.
San Francisco’s millionaire tech entrepreneurs are quitting the city in favour of London amid soaring crime rates in Silicon Valley.in recent years San Francisco’s citizens have “grown disenchanted” with its rife opioid usage, disproportionate rate of homelessness and rising crime, private bank Coutts warned.
, who was allegedly stabbed to death by the brother of a woman he reportedly met through an elite underground sex and drug party scene.alongside major tech firms such as Uber, Airbnb, and Salesforce, while Meta – the owner of Facebook and Instagram – sits in the Bay Area.In the past year, Americans have become the largest group of overseas buyers in prime central London, taking the top spot from Chinese buyers, and the French in 2020.
Annie Ingram, a private banker at Coutts, said: “Tech workers have grown disenchanted with San Francisco.” Ms Ingram said “political challenges” in the US could also have a part to play.”Difficulties in the UK right now seem minor compared to other countries’ challenges,” she added. ”America’s west coast is definitely a factor in the London prime property market in a way it wasn’t five years ago. And once you get a cohort of owners in London, their friends come,” Mr des Forges said.
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