The majority of this can be found in the north-west of Mayfair, dubbed ‘Qatari Corner’, where the Qatari royal family are understood to own a collection of properties.
According to Rokstone, investors from Qatar account for 5% of all Mayfair buyers and over 60% of all purchases for properties priced above £10m.
Becky Fatemi, Managing Director at Rokstone, said: “On the north-west side of Mayfair property, covering almost a quarter of the district’s 279 acres, is now the West End address of choice for Qatari and other Gulf state end user buyers and tenants.
“The ‘Oil Royals’ and wealthy families from the Middle East view Mayfair as a luxury village and their favourite place in London, alongside Knightsbridge, for luxury shopping, dining out and leisure.
“Over two-thirds of Mayfair residents typically eat out 3-4 times per week and Middle East residents spend on average £1,900 per shop.”
Rokstone also estimates that almost one-quarter of Mayfair’s 4,300 residential properties is made up for Qatari investors, residents and tenants.
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