Rich splash out to be near the best schools

Daily Mail - - City & Finance -

WEALTHY for­eign­ers have spent £2bn in the past year on high-end Lon­don prop­erty so they can be near their chil­dren at top pri­vate schools and uni­ver­si­ties.

Par­ents from over­seas are buy­ing up houses to use as a base to look for schools or to visit their sons and daugh­ters dur­ing term time, a sur­vey by es­tate agent Knight Frank found. The fam­i­lies are mostly from Hong Kong, main­land China and Rus­sia.

Re­spon­dents said their big­gest mo­ti­va­tions are qual­ity of ed­u­ca­tion, a school’s pres­tige and its abil­ity to help chil­dren get a top job or at­tend a fa­mous univer­sity.

Af­ter the UK, the Us was the next most pop­u­lar place for for­eign­ers to send chil­dren to school. Canada and other EU coun­tries came a dis­tant joint third.

Liam Bai­ley, of Knight Frank, said: ‘The ma­jor­ity of over­seas buy­ers ap­pear un­con­cerned by the im­pact that Brexit may have on the UK as a place to ed­u­cate their chil­dren and there have even been signs that it has be­come more at­trac­tive to some in the past 12 months.’

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.