London became Londongrad as Russian oligarchs stormed the high-end property market. Now they are under pressure and so is the real estate market.
Over the past two decades, London’s high-end property market was overrun by the global superrichA mansion just a stone’s throw from Kensington Palace—on land leased from the crown—sold
for $140 million to one oligarch, while estates built by Victorian aristocracy and industrialists traded to Russia’s new rich, who added sprawling subterranean pools and sleek glass walls.
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