24.10.2011 - Europe: Luxury housing market unscathed while all around it suffers
Despite the gloom, sales of luxury properties in France and UK are rising, according to upmarket estate agents and auctioneers. When the economic going gets tough, the rich get going in increasingly big houses. As sales of 1m-plus homes in London hit their highest level since the 2007 housing peak, high-end estate agency Knight Frank, whose clients have included Kate Moss and Sven Goran-Eriksson, has reported bumper profits, while in France, auctioneers are reporting a surge in luxury property sales.............................................Full Article: Source
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