The firm of CB Richard Ellis Hamptons Int.- Real Estate Consultants stated in a recent study that the most luxurious of London properties can cost as much as $5,860 per sq. ft.
Similar type properties in New York are priced around $5,276 per sq. ft. Other properties in central London cost approximately $2,300 per sq. ft. as compared to $1,900 in the city of New York.
The average price of a home in the London market has been red hot for over 10 years running. Average prices have tripled since the mid-90's.
Some neighborhoods in London have seen incredible price increases. Notting Hill, for example, has seen the average cost of a home increase more than 240%.
The 10-year trend has resulted in record-breaking average sale prices which have hit the $1.9 million mark. This equates to an increase of approximately 12% over 2005.
The trend also states that several UK residents have been searching for
La Jolla Real Estate and
Del Mar Real Estate, because of
the current state of the dollar, people from Europe can get a home in a high priced area, in the US, at half the price.
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