You've successfully copied this link.
Rich Chinese drive London art boom
Wealthy Chinese who have bought property in London are spurring a boom in the art gallery trade. According to Bloomberg, rents in the posh London district of Mayfair have increased 40 percent in the last 18 months. New York-based art dealer Larry Gagosian is set to open a gallery in Mayfair. Five new art spaces are going in on Cork Street. Sotheby's is opening on St. George Street. And there is “intense demand” from other U.S. galleries. That's the opinion of Katie Blake, from the London Luxury Quarter. Even Christie’s International auction house saw its first-half sales surge by 9% to a new record of 2.4 billion pounds (US$3.7 billion). They say it's all because of "newly wealthy Chinese buyers".
Loved this article? Sign up for free to get Juwai China Market updates!
Resources
Contact Us
- Shanghai: +86 21 6015 9000
- Hong Kong: +852 5804 4670
follow
Juwai
WeChat!
Juwai.com
Our Chinese consumer site, Juwai.com, is the largest Chinese international property portal and the market leader in China. + See Juwai.com site
Juwai China News
Subscribe to receive the latest news on Chinese buyers, the China market, and Juwai.com.
2018 © Juwai. All Rights Reserved. Privacy Policy | Terms of Service
