Wednesday November 26, 2014 Search
Weather | Athens
13o C
8o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
No Greek-domiciled buyers of London luxury homes in 2013

By Patrick Gower

Home sales in Londons priciest neighborhoods climbed 37 percent last year as a rise in the number of U.K.-based buyers made up for dwindling investment from Europe, according to Knight Frank LLP.

Sales of houses and apartments worth 4 million pounds ($6.6 million) to 5 million pounds led the gains, rising by 88 percent, the London-based broker said in a report today, without giving specific figures. Transactions involving homes valued at more than 10 million pounds rose 42 percent.

Overseas buyers helped Londons luxury homes outperform other U.K. real estate for the last four years as investors sought safe assets amid economic turmoil in their home countries. That has fueled 39 consecutive months of price gains, according to the report.

Now, the prime London property market is evolving beyond its safe-haven status as signs of economic growth return to the U.K., Tom Bill, an associate at Knight Frank, said in the report. More people are spending more money in prime central London as global economic threats recede.

The proportion of U.K.-based buyers increased to 74 percent during the year, from 72 percent in 2012 and 68 percent in 2011, according to the report. European buyers dropped to 11 percent last year from 16 percent in 2012. There were no Greek-domiciled buyers for the first time in four years.

Prices gained 0.4 percent in January, according to the report. The index has risen 135 percent over 10 years.

In 2004, 1 million pounds bought you a two-bedroom flat on the upper floor of a converted building on a garden square in Knightsbridge, Bill said. Today 1 million pounds would buy a basement-level studio flat on the same square.

[Bloomberg]

ekathimerini.com , Monday February 10, 2014 (14:56)  
Debtors snap up offer for easier settlements
Belgium gas firm said to be eyeing DESFA
OLP approval paves way for investment in Piraeus
Airport tender exceeds expectations
Hundreds of migrants on crippled ship off Crete
Ships from Greece rushed to help after a crippled freighter crammed with hundreds of migrants floundered for hours Tuesday in gale-force winds and high waves in the Mediterranean Sea, offici...
Policemen suspected of working at Piraeus bar where shooting took place
At least three serving policemen are thought to have been working at the bar in Mikrolimano, Piraeus, where a 31-year-old man opened fire with an AK-47 early on Saturday, resulting in 15 peo...
Inside News
SOCCER
Atletico eyes last 16 berth against Olympiakos
Greek champion Olympiakos faces a tough task if it is to prevent last season's beaten finalist Atletico Madrid sealing its passage into the last 16 of the Champions League at the Vicente Cal...
SOCCER
EPO ends soccer suspension, Super League resumes
Soccer action will resume this weekend after the Super League convened on Monday, elected a new president and alternate president and sent a letter to the soccer federation that assures it t...
Inside Sports
COMMENTARY
Beware of the fallen idols
Akis Tsochatzopoulos, a legendary figure of the Greek socialist movement, a man who came very close to taking over the party that governed the country for half of the time following the fall...
EDITORIAL
The hard truth
The coalition government must tell the truth to the Greek people, even if this entails admitting to mistakes made over the last few months. The countrys citizens are fully aware of how cruc...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Hundreds of migrants on crippled ship off Crete
2. Atletico eyes last 16 berth against Olympiakos
3. Debtors snap up offer for easier settlements
4. Belgium gas firm said to be eyeing DESFA
5. OLP approval paves way for investment in Piraeus
6. Airport tender exceeds expectations
more news
Today
This Week
1. Anastasiades to undergo heart surgery in the US on Dec 4
2. Cargo vessel carrying hundreds of migrants adrift southeast of Crete
3. Trade deficit widens by 8.7 percent during Jan-Sept period, says ELSTAT report
4. Two police officers among 9 arrested for drug trafficking
5. Fraport, Copelouzos offer highest bid for Greek regional airports
6. Stop Mediterranean becoming vast migrant cemetery, Pope tells Europe
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Biden heads to Istanbul amid tension over Cyprus EEZ violation
3. Give Greece a chance
4. Every age has its collaborators
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Scientists expand excavation of ancient Amphipolis
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.