Categorized | Featured, International

London Luxury Housing Market Sees Gains

London Luxury Housing Market Sees Gains
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As more investors seek more secure assets, the prices of luxury London homes have increased at levels unseen in nearly a year. Values of luxury homes in the central part of London have increased by nearly twelve percent in the past year alone.

Worried by the current European debt crisis, many investors are looking to avoid riskier assets, and feel that the luxury housing market in London provides for greater security than any other potential investment.

The central London luxury real estate market is garnering quite a bit of interest from international investors and buyers. In fact, fifty-five percent of luxury homes sold in the past few months have gone to international buyers.

Buyers from Russia have increased, and now account for more than six percent of all luxury London home purchases. Buyers from the United Arab Emirates, the United States, and France have also been significant investors in London’s luxury real estate market.

Uncertainty over the longevity of the euro has fueled greater increase in the central London luxury properties, as the British pound has shown to be the more secure currency in the long run. Many investors worry that the euro may eventually be defunct as countries reconsider returning to using their own currency.

Riots in the city of London temporarily caused a decline in sales and prices in London at the beginning of September. However, the crimes and violence associated with the riots did not have a tremendous impact on the luxury housing market. In fact, luxury residential real estate prices are expected to continue their ascent by as much as twelve percent for the rest of the year.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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