Sales of luxury homes in London set records

Sales of luxury homes in London set records

In a year 2013, over 500 very expensive residential properties valued at more than £5 million (€6.03 million) were sold in London. This is by 24% more than in 2012, accordiing to ee24.com citing bloomberg.com. By the way, the number of these sales includes 160 transactions valued at more than £10 million (€12.06 million).

Despite the increase in the number of transactions, prices for luxury real estate in London have stabilized. For the third year in row, the average value remains virtually unchanged at around £2,338 (€2,820) per square foot. It turns out that every square meter of luxury housing costs around €30,355.

The most popular areas among wealthy buyers are Knightsbridge, Belgravia, St James, Kensington and Chelsea.