Why the wealthy move to London

• Examples


  • Central London has attracted a large number of 'super-rich'
  • In 2016, residents living at the prestigious development One Hyde Park included:
  • The minister of foreign affairs of Qatar
  • A Ukrainian business oligarch
  • 2 Russian property developers
  • The president of Kazakhstan
  • This is 'deliberate segregation'
• Deliberate segregation


  A decision to live in self-contained, security guarded endures.
• Why London?


  • Oligarchs moved to London in the early 2010s to escape financial sanctions
  • In 2013, estate agents Knight Frank placed Russians at the top of the list of oversea buyers of London homes
  • Their total spending was £500 million
  • An estimated 100 Russian billionaires lived in London in 2013
• Where do Oligarchs live?


  • Mostly concentrated in segregated endures in Central London:
  • Kensington
  • Mayfair
  • Westminster
  • Regents Park
  • Knightsbridge
• What attracts the wealthy to London?

  • Property in London is a good investment - a smaller property in Cornwall Terrace was bought in 1990 for $595,000 and sold for £3.7 million in 2014, an average increase of 10.4% per year
  • British pound holds its value more consistently than the Russian rouble due to Russia's volatile economy and its dependence on oil and gas
• Why oligarchs chose London


  • London is the main capital raising centre for Russian companies and offers financial respectability
  • In 2013, 28 Russian firms worth £20 billion were listed on London's stock exchange
  • The UK makes it easy for wealth to migrate as it grants 3 year visas to those investing over £1 million in government bonds
  • Provided they keep the bonds, they can buy residency for £10 million after 2 years
  • Between 2008 and 2013, 433 visas were granted to Russians and 419 to Chinese
  • 1/3 of Russians buying property in the UK do so to educate their children in private schools