31.05.2011 - London luxury-home prices rise at fastest pace in year on overseas demand
Luxury-home prices in central London rose at the fastest pace in a year in May as the poundís weakness encouraged overseas buyers to compete for a declining number of properties for sale, Knight Frank LLP said. Values of houses and apartments costing an average of 3.7 million pounds ($6 million) increased 1.4 percent from the previous month, the London-based property broker said in a statement today. Thatís the seventh straight increase and compares with a 1 percent gain in April..............................................Full Article: Source
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