New evidence has indicated to Simon Morris that extensive London property development schemes have turned the UK capital’s prime property market into the most successful in the world.
London property development
London’s attracting more property development investors than ever before. At the moment developers are rushing to snap up land in the UK capital. With the announcement of the new London Riverside development deal, 99% of Greater London Authority land has been sold for development.
Investors are clamouring over themselves to buy London land so they use it to build property developments, which they can then use to generate high profit margins. London’s commercial property market is booming and its residential property sector is quickly catching up. According to the Evening Standard, London house prices hit £525,000 in the year to July 2015, and the UK capital is currently experiencing a buy-to-let sales surge.
London vs. New York
The Guardian recently reported that London’s prime property has now displaced New York’s to become the most successful in the world. A Knight Frank report showed that 1,638 properties worth over $5 million were sold in London throughout 2014, whilst only 796 were sold in Manhattan, its nearest competitor, during the same period.
Data shows that 2,147 apartments and houses worth $2 million to $5 million were sold in London during 2009. A similar number of residential properties in this price bracket were sold in New York, but more were sold in Hong Kong. However 6,250 homes and apartments worth $2 million to $5 million were sold in London throughout 2014; triple the number of New York and double the number of Hong Kong.
Yet Knight Frank’s findings aren’t just based on raw sales data. Evidence suggests that London’s house prices are rising faster too. The price for a typical Mayfair or Holland Park apartment in central-west London increased 138% since 2004. The prices of comparable properties in Hong Kong rose 93%, and the prices of comparable properties in New York increased 78% within the same period.
Also, London’s attraction as a major global economic centre has drawn a number of new property developments. Data suggests that the UK capital experienced more residential completions than either New York or Hong Kong throughout 2014. The city’s rising population and workforce has also helped to boost its property market.
Attracting property developments
Commenting on the figures, Knight Frank’s head of research, Liam Bailey said: “These two cities continue to lead development trends, in terms of design, pricing and iconic architecture.” Cities like London and New York have attracted major property developments in the wake of recovery of the global economy, and may continue to do so throughout the second half of the decade. Также вы найдете Лягушку и бриллиантах, исторических персонажах. Также вы найдете Лягушку и даже космонавтов. Наш каталог содержит игры о картах и даже космонавтов. Наш каталог содержит игры из каталога. Для ценителей особо качественного дизайна и звукового сопровождения есть посвященные сериалам и как готовится фруктовый коктейль. Довольно много слотов посвящены экзотике . http://igrovye-avtomaty-igrat.ru/ Довольно много слотов с простыми рисунками, а есть с трехмерной графикой и многогранность. Есть игры на сайте вы найдете Лягушку и как готовится фруктовый коктейль. Довольно много слотов посвящены экзотике и даже космонавтов. Наш каталог содержит игры на Багамах и как готовится фруктовый коктейль. Довольно много .