Rich Chinese buying up houses in Europe...

The yuan may not be monopoly money but it is good enough for many Chinese to stake their claim on Mayfair, Park Lane or Bond Street. Those with Chinese currency are not playing a board game, however - they are buying up million-pound-plus apartments and houses in prime central London for real.

According to Knight Frank Residential Research, more than one in 10 of all buyers of new properties in central London are now from the Chinese mainland or Hong Kong, with many mainland buyers channeling money through the special administrative region.

Although, the Chinese are also looking at other areas of Europe, including old world castles and chateaus with vineyards in France, and the sunny southern Spain costas, London remains their central focus. More...

Don't miss:

1. Bill Gates and Warren Buffet hold banquet for China's super rich...
2. China's global spending frenzy largely unnoticed... 
3. Swiss tourism targets wealthy Asians...
4. Aristocrats own third of land in England and Wales...
5. When wealthy Russians go house-buying in Switzerland...