The average price of luxury property in central London in September 2012 increased by 51% compared with the lowest rates, which were recorded in March 2008, according to online resource Property Wire with reference to the index of real estate company Knight Frank. Real estate sales in the price range from 2 to 5 million pounds was down 20% from June to September 2012 compared with the same period last year. According to experts, this is due to an increase in stamp duty rates under 7% when buying a property worth 2 million pounds. Annual growth in value of the property above the average recorded in areas like central London Knightsbridge, Hyde Park, Marylebone and Belgravia. Experts say that foreign investors still are active in the market of the prestigious London property - in the sector of real estate valued at more than
The cost of gentrification in London is growing steadily
27.09.2012
Homesoverseas.ru editorial office
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