10 Jun 2012

The rich flee to London

London is facing an unprecedented surge in the number of companies offering concierge and other special services to the very wealthy, as new groups of rich émigrés relocate to the UK to escape instability abroad.


Russians have been joined by Indians and continental Europeans among the overseas buyers that have purchased 60% of the prime property available in central London in the past few years, according to estate agents. The growth in foreign purchases appears to be matched by the growth in companies that are willing to do anything for their clients – any time, any place, anywhere.

Alistair Gill, the manager of Mayfair Concierge, which started business last month, said companies such as his were there to open doors, simplify procedures and obtain the unobtainable for those who could afford it. "While times are tough, there are still a lot of people who enjoy a high quality of life – who are cash-rich and time-poor. It's a growth market," he said.

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