10.28.04 03:14 Author: Cameron Lindblom
World’s de luxe real estate
Real estate prices in most European capitals continue to grow. In Spain and France the annual price growth accounts at 10 – 15%
The most expensive luxury real estate is sold in London’s downtown areas (from $1,900 per square foot), Manhattan in New York City (from $1,000 per square foot), Eiffel Tower district in Paris (from $850 per square foot), St. Mark Square in Venice (from $900 per square foot), Golden Mile in Moscow (up to $1,200 per square foot). In other world’s major cities luxury real estate prices are a lot lower. For instance, prices in Barcelona range from $360 to $900 per square foot, while in Vienna they properties are sold for around $600 per square foot.
Real estate prices in most European capitals continue to grow. In Spain and France the annual price growth accounts at 10 – 15%. Moreover, neither sharp lifts nor declines are expected so far. Prices crawl up in Austria, Germany, United Kingdom and Italy. According to Grubb&Ellis though, property prices are inclined to recess in Belgium, Finland, Netherlands and Sweden.
London now has all chances to return its international recognition of the most expensive real estate capital in the world. Since the beginning of the year apartments and houses have become 8.6 percent more expensive, while they’d dropped 2% the year before. Luxury real estate prices are now safe and sound. De luxe properties priced $5,000,000 and more are in great demand there, and their prices go up two times faster than within luxury real estate sphere in general. Apartment prices in the most prestigious London’s areas (from $4,000,000 to $10,000,000) have been growing 7 – 12 percent since this year began. Real estate professionals believe that property prices in London will continue to grow, as the stabilization of the international economy draws bigger money to London, which reflects on value of real estate in the city. Analysts reckon the private investors and companies use real estate for investments trying to save their capitals from devaluation. And this is the most powerful locomotive of the growing property prices. Real estate has become probably the best savings haven.
Average luxury property prices in some of the cities
|
City |
Average prices per sq. ft |
Districs |
|
London, UK |
$1,900 |
Belgravia, Knightsbridge, Chelsea, Mayfair, Notting Hill, Kensington |
|
Paris, France |
$900 – 1,800 |
6th, 7th, 8th, Ile St. Louis, Place des Vosge |
|
Vienna, Austria |
$500 – 900 |
18th and 19th |
|
Munich, Germany |
$540 – 1,000 |
Bogenhausen, Herzogpark, Lehel, Schwabing, Nymphenburg |
|
Stockholm, Sweden |
$1,000 |
Ostermalm |
|
Barcelona, Spain |
$350 - 850 |
Pedralbes, Sarria, St.Gervasi |
|
Rome, Italy |
$350 – 1,200 |
Centre Storico, Trastevere, Aventino, Parioli, Gianicolo, Trieste, Fleming, Prati |
|
Venice, Italy |
$850 – 1,200 |
San Marco, Dorsoduro |
|
Johannesburg, South Africa |
$ 70 - 100 |
Hyde Park, Sandhurst, Dunkeld |
|
Moscow, Russia |
$ 500 – 1,100 |
Ostozhenka, Zamoskvorechye, Patriarshy Prudy, Plushchiha |
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