The real estate market is held in London on premiums and Aliens

13.12.2010 17:43
Real Estate Market Analysis | The real estate market is held in London on premiums and Aliens Bankers and other professionals in the field of financial services to the British capital will spend around 1 billion pounds of his award, given to them by the end of 2010, the purchase of housing in the city. However, experts suggest that the London housing a little cheaper, despite the influx of "banker's" capital.

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%.

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The 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.
Content tags: Overseas property
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