The colossus of real estate consultancy Knight Frank has drawn up, as it should, the ranking of buyers of luxury homes in uptown London. In the last year, the Italians have surpassed the Russians, who now permanently resided on the throne of the wealthiest on English soil. Italians spend a good 4,4 million pounds - equivalent to 5,5 million euros - to settle down on British soil in one of London's chic districts, between South Kensington, Knightsbridge and Chelasea.
The share of Italian buyers of luxury homes in the British capital rises to 6,7%, ousting the French who are in second place with 4,1%. The Russians therefore climb to third place, while European buyers reach the percentage of 14,5% of the purchases of London super homes.
The Financial Times, commenting on the news, does not fail to underline how Italy is in recession for the third time in ten years, both under economic stress after the Monti reforms and now the Renzi ones. The doubt raised by the prestigious English newspaper is evident: how can a country in severe economic difficulties be the furnace of the major owners of the most luxurious houses in London - the city with the most expensive houses in the world?
The Financial article does not provide an answer, but the suggestion is left to mature to the reader. It has been almost eight years now that we have heard that luxury is one of the few sectors – perhaps the only one – not to feel the repercussions of the economic crises. Here, this could be the answer to the first question. Certainly the phenomenon documented by Knight Frank is a clear confirmation of this.
