Prime central London property market set to be frenetic, agents predict
June is predicted to be a frenetic month for prime property in London as interest in both the sales and lettings market from buyers in the Middle East, Russia, France and Italy continues
The latest report from estate agents W A Ellis shows that average prices per square foot increased by 20% in prime addresses such a Knightsbridge, Belgravia and Chelsea in the last six months.
It reports strong interest in properties with development potential. A property which would have achieved £1,700 per square foot six months ago is now likely to be worth around £2,000 per square foot. Many developers are now basing their projections upon a price point of £3,000 per square foot, it says.
‘The property market in prime central London stalled somewhat .....
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