According to the company Savills, in the current year, the average cost of housing in the capital of the UK rose by 2%. In 2011 this figure will likely fall by 1%.
Related article: The safest country in Europe to buy a homeThe share of people who buy real estate in the city of their bonuses usually account for about half of all purchases of housing in the price range in excess of ? 1 million Record of paying bonuses in 2006 and 2007. (At ? 11,5 billion annually), pushed up prices in areas such as Chelsea, Belgravia and Kensington, to record heights, according to Bloomberg.
But in central London running the show foreign buyers, attracted by the depreciation of sterling against other global currencies and falling prices at the peak of the financial crisis. According to the company Savills, 60% of elite real estate in central London are bought by non-residents of Great Britain.
According to head of research at Knight Frank's Liam Bailey, the competition for a limited number of elite sites for sale led to the fact that prices for such homes and apartments dropped by no more than 5% relative to peak performance.