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“London is a passing-through city,” said Royce Pinkwater, of the Manhattan based brokerage Pinkwater Select, which specializes in international luxury real estate. “Many people use it as a base.”

Pinkwater referred to London as the “initiator and dominator in turnkey properties” because as a secondary market, super high-end buyers don’t want to spend time renovating newly acquired property.

Read the full article on The Real Deal