Trade of the Day: Buy London Mansions

Mark Gilbert is a Bloomberg View columnist and a member of the Bloomberg View editorial board. He has worked at Bloomberg News since 1991, most recently as London bureau chief. He is the author of "Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable."
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The U.S. and European Union added more Russian officials and companies to their sanctions list as they seek to punish Russia for the crisis in Ukraine. As my colleague Leonid Bershidsky points out, the $51 billion that escaped from Russia in the first quarter needs a home, and London property is both liquid and legally secure. So today's Trade of the Day: buy London mansions, even with prices in the capital already more than double everywhere else in the U.K.

London's real-estate bull market. Source: Bloomberg

This column does not necessarily reflect the opinion of Bloomberg View's editorial board or Bloomberg LP, its owners and investors.

To contact the author on this story:
Mark Gilbert at magilbert@bloomberg.net

To contact the editor on this story:
James Greiff at jgreiff@bloomberg.net