90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Monday, January 16, 2012

London’s Super Rich Send Real Estate Prices Through The Roof

A woman walks past a real estate agent's window in west London. (AP)

Around the world, inequality is growing and the rich are getting richer. And they have a very special problem: where to find a safe haven for all of that money.

Many have been choosing to invest in prime real estate.

A recent story in the online journal, Russia Today, reported that a Russian billionaire spent $88 million for a 4-bedroom apartment on Central Park West in New York City.

In Miami Beach, the owner of the Russian Standard Bank and Russian Standard Vodka paid $25 million for an estate–the most expensive home purchase in the city since 2006.

The same thing is happening in London — and this has sent property prices soaring. The BBC’s Michael Robinson finds out – that’s proving to be a problem for other Londoners.


Please follow our community rules when engaging in comment discussion on this site.
Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

April 23 10 Comments

Iconic Images From Rock And Roll Photographer Henry Diltz

Crosby Stills and Nash, Neil Young, Joni Mitchell, the Doors, the Eagles, all became his friends and subjects.

April 23 22 Comments

Police Shooting Of Tamir Rice Still An Open Wound In Cleveland

Five months after the 12-year-old was shot, Peter O'Dowd visits the neighborhood and speaks with Tamir's mother, Samaria Rice.

April 22 6 Comments

Saving Food Scraps From The Trash To Make Better Meals

Are you throwing away your broccoli stems and peach pits? Food writer and cookbook author Eugenia Bone says don't.

April 21 Comment

Photographing Armenian Lives Around the World

Photojournalist Scout Tufankjian started the Armenian Diaspora Project to explore what it means to be Armenian.