London Luxury-Home Prices Increase the Most Since March 2008

March 01, 2010 - London

Luxury-home prices in central London jumped 17 percent in February from a year earlier, the biggest gain in almost two years, as more buyers competed for a dwindling number of properties, Knight Frank LLP said.

The value of houses and apartments costing more than 1 million pounds ($1.5 million) rose 3.2 percent from January, the London-based property broker said in an e-mailed statement today.

The annual increase was the largest since the market peaked in March 2008 and compares with an 11.5 percent advance in January. Prices are still 10 percent lower than the peak.

“The continuation of the growth in prices and the recent increase in the speed of such growth has been caused by a dramatic shortage of supply,” Liam Bailey, head of residential research at Knight Frank, said in the statement.

Kenwood Place – London's new trophy address

February 11, 2010 - London

Knightsbridge has One Hyde Park, Kensington has Phillimore Square and now Hampstead and Highgate have Kenwood Place.

Arguably North London’s most exclusive new trophy address offers the very best of the best - Belgravia luxury in the leafy historic suburbs of N6.

This new collection of exquisite apartments offers a rare opportunity to live next to Hampstead Heath and its 800 acres of open countryside, parkland and woods.

London's biggest home to be created in Regent's Park

February 05, 2010 - London

London’s largest home after Buckingham Palace is to be created by Regent’s Park, in a £100m complex complete with a cinema, gym and swimming pool.

Developers have won planning permission to convert a row of seven office buildings into a vast ten-bedroom stuccoed mansion.

When completed, the 50,000 sq ft Regency terrace will claim the title of London's largest residence after Buckingham Palace. Witanhurst manor in Highgate currently holds that title.

Lottery for Luxury House in Belgravia

December 04, 2009 - London

A couple plan to sell their £5 million Belgravia home in a competition where potential homeowners can buy tickets for just £50.

Michael Forster, CEO of Powersave, and his wife Kathleen say they want to offer 'a plumber from Essex or a tractor driver from Slovenia' the chance to live in the one of the smartest areas of London.

Tickets cost £50 and the winner will receive their house on Wilton Street, which has five bedrooms and a staff flat, and is one of only three freehold properties on the street.

London: Luxury Home Prices on the Rise

November 30, 2009 - London

Luxury-home prices in central London rose on an annual basis for the first time in 17 months as bank and hedge-fund executives bought houses and apartments in anticipation of bonuses, Knight Frank LLP said.

Homes with values of above $1.6 million appreciated 1.6 percent in November compared to the same month last year.

This was the first annual increase since June 2008. Nonetheless, prices remain 15 percent lower than the March 2008 peak. From October to November, prices grew 1.2 percent.

Russia's richest woman spends £50m on London's biggest home.

September 29, 2009 - London

A family of Russian oligarchs is creating the biggest house in London after Buckingham Palace at an estimated cost of £100m according to Timesonline.

Witanhurst on Highgate's West Hill is London's second largest private house, dwarfed only by Buckingham Palace.

The house was bought for £50m by Yelena Baturina, thought to be the wealthiest woman in Russia and wife of the mayor of Moscow.

A London house goes on sale for $150 million

September 01, 2009 - London

A terrace house in Belgravia has gone on the market for a record £100million. (approx. US $150 million).

The current record London house price is £80 million, paid last year by Ukrainian philanthropist Elena Franchuk for a property in Upper Phillimore Gardens, Kensington.

The six-story property in Belgravia, central London, has 20-foot ceilings, luxurious fixtures and more than 21,000 square feet of living space.

London’s luxury homes sell at fastest pace in 2 years

September 01, 2009 - London

London’s luxury homes this month sold at the fastest pace since the market started to slide more than two years ago as overseas buyers took advantage of a weakening pound, Knight Frank LLP said.

About 250 homes and apartments costing more than 1 million pounds ($1.6 million) were sold during August, compared with about 75 a year earlier, said Liam Bailey, head of residential research at the London-based broker.

Shard London Bridge starts construction

August 27, 2009 - London

The Shard is one of the most enigmatic buildings to adorn the London skyline in recent years.

The vision of its creator, the much lauded Italian architect Renzo Piano was for a vertical "City in the Sky"; and the Shard at London Bridge Quarter with its mix of offices residences, hotel, restaurants and viewing platforms will herald a new era in high rise development for London and will become emblematic when all eyes look towards the city in 2012.

London Choice Unveils London's Most Luxurious Serviced Apartment

August 25, 2009 - London

Situated just steps from Hyde Park and newly refurbished to the highest bespoke standards this stunning fully-serviced London apartment is the utmost in luxury lifestyle living.

This bright and unusually spacious apartment is individually designed with meticulous attention to detail and to the highest specification.