According Knight Frank’s Prime Central London Index, property prices in this year’s Olympic capital have risen more than 40 per cent since their post-credit-crunch low in March 2009. Property Report South East Asia talks to Patrick Ramsay, head of residential, Knight Frank LLP.
As major new projects and infrastructure improvements reach completion in the UK capital in time for the upcoming Olympic Games, property prices are at a record high – some 7 per cent higher than their previous peak in March 2008. Knight Frank’s latest residential research indicates the number of exchanges and the volume of sales being agreed have risen by 31 per cent and 43 per cent, respectively, over the past year, with particularly healthy demand in the £1million (US$1.57 million) to £2.5million (US$3.93 million) bracket, reflecting strong interest from European and Asian investors for investment properties.
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