French HNWIs eschew property for liquid assets

Under pressure to cool a soaring housing market, the Australian government's proposed clampdown on foreign property buyers has raised a few eyebrows around the world.

Foreign dosh - around £3bn of it in 2011 according to Jones Lang LaSalle - "underpins" the entire London property market, argues London First, which lobbies on behalf of businesses in London.

The richest 0.003% of the world population (200,000 people) - owns 3% of the world's total real estate value (worth around US$ 5.