New figures from Knight Frank, the estate agent, show that Russians are easily the most enthusiastic foreign buyers of homes worth more than 2 million pounds, but have snapped up a mere 93 million pounds' worth of homes away from the capital. Liam Bailey, who led the Knight Frank survey, says that since January Russians have bought some 240 million pounds worth of real estate in London alone.

The New Russians' impressive wealth has sent real estate prices inside a several square miles-large swathe of land which real estate agents call "prime central London" up 25%.

Harry Gersham, a managing director at Beauchamp Estates agency, clinched his first deal to sell a flat to a Russian buyer almost 15 years ago. This year he has sold to Russians more than a dozen apartments and hunting houses each worth between 1 million and 20 million pounds, including a five-bedroom penthouse in Knightsbridge.

Many big real estate agencies started hiring Russian-speaking agents five years ago to find out whether any of the 1,000 or so Russian millionaires who have already acquired property in London, would fancy to buy a flat or country house in addition to what they already possess.

An annual welfare report Merryll Lynch and Cap Gemini companies published in June, lumps Russia, South Korea, India and South Africa together as the four countries boasting a record growth in the number of propertied citizens.

Roman Abramovich, the billionaire owner of Chelsea football club, is everyone's envy having coughed up 50 million pounds over the past 20 months' time to acquire four mansions in London's exclusive Belgravia neighborhood and as many posh apartments at Knightsbridge. He is also the proud owner of a 18 million, 420-acre estate in West Sussex. Many other Russian tycoons are following in Abramovich's steps eyeing up country estates away from London.

According to Knight Frank, country houses account for 11% of the property Russian businessmen bought in Britain last year (75 estates in exclusive parts of Ascot, Surrey, Berkshire, etc.)

The growing number of Britain's country estates is accompanied by an equally fast upsurge of the luxury and antiquities market. As the head of Britain's Sotheby's auctioneers says, "Russians are showing a great deal of interest in antique furniture, silver, chinaware and books."

By Mike Sullivan - Voice of Russia