Raise The Bar ? Luxury Real Estate In The United Kingdom
Luxury living in London hits new heights thanks to the latest penthouse residences being developed.
The post Raise The Bar – Luxury Real Estate In The United Kingdom appeared first on LUXUO.
Penthouses around the world represent some of the most highly sought-after residential real estate, no matter which city they?re in. You can often judge how well a local economy is doing based on the performance of its high-end properties. That extends even further when you start looking at the world?s most important cities.
The Facade of The Haydon. Image: OGPS Global.
Demand for luxury properties is resilient in London and penthouses represent the crème de la crème in terms of apartment living. In fact, there is a shortage of these prime properties, as inventories struggle to keep up with demand. According to market data by LonRes, London?s premier real estate data source, there were 272 homes that sold for £5 million (approx. USD 6.03 million or more from January to August this year, which is a significant increase of two-thirds compared to the same period in 2019. Furthermore, 61 luxury properties ? each worth more than £10 million (approx. USD 12.07 million) ? were purchased in the first six months of 2022. It is unlikely this will slow down in the foreseeable future, as overseas investment continues to flow in, and the Pound Sterling hovers around all-time lows versus the US dollar. Fortunately, buyers don?t need to spend £10 million to get into a brand-new luxury pentho...
The post Raise The Bar – Luxury Real Estate In The United Kingdom appeared first on LUXUO.
Penthouses around the world represent some of the most highly sought-after residential real estate, no matter which city they?re in. You can often judge how well a local economy is doing based on the performance of its high-end properties. That extends even further when you start looking at the world?s most important cities.
The Facade of The Haydon. Image: OGPS Global.
Demand for luxury properties is resilient in London and penthouses represent the crème de la crème in terms of apartment living. In fact, there is a shortage of these prime properties, as inventories struggle to keep up with demand. According to market data by LonRes, London?s premier real estate data source, there were 272 homes that sold for £5 million (approx. USD 6.03 million or more from January to August this year, which is a significant increase of two-thirds compared to the same period in 2019. Furthermore, 61 luxury properties ? each worth more than £10 million (approx. USD 12.07 million) ? were purchased in the first six months of 2022. It is unlikely this will slow down in the foreseeable future, as overseas investment continues to flow in, and the Pound Sterling hovers around all-time lows versus the US dollar. Fortunately, buyers don?t need to spend £10 million to get into a brand-new luxury pentho...
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