London property market most expensive in the world

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London property market most expensive in the world

Found in: Mortgages February 13th, 2007

The residential property market in London is now the most expensive in the world, according to CBRE Hamptons International.

“Our research suggests prices currently achieved in the prime areas of Central London are the highest in the world when measured by price per square foot”, said CBRE Hamptons International, part of CB Richard Ellis Group.

CBRE said prime residential property in London on average cost around £1,200 per sq ft compared with £1,000 per sq ft in New York. The residential property market in Tokyo was the third most expensive, at around £900 per sq ft.

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