When it comes to sales of luxurious properties, London is leading!
Reports revealed that the price of luxury homes in London has tripled more than cities like Hong Kong, Singapore, Sydney and New York since 2009
Estate agency Knight Frank report, there were 1,638 properties sold in London for more than £3million in 2014, compared with 796 in Manhattan, 258 in Sydney and 21 in Los Angeles, with most properties in the price range of £1million to £3million over six years.
Head of research at Knight Frank, Liam Bailey, said he expected London to continue to dominate the world’s housing market for the next decade but warned New York could catch up by 2024.
‘These two cities continue to lead development trends, in terms of design, pricing and iconic architecture.’
Adding that London’s prime market stands out both in terms of the volume of prime sales and the scale of its expansion since 2009.