London Has $34 Billion of Luxury Homes in Development Amid Record Prices - Bloomberg
London has a pipeline of luxury-home developments valued at about 21 billion pounds ($34 billion) as a shortage of properties helped push prices to a record and spurred new projects, according to EC Harris LLP.
Investors and developers plan to build 9,000 prime apartments and houses by the end of the decade that they’re aiming to sell for more than 1,000 pounds a square foot, according to a study released today by the London-based consulting firm. Of this amount, 4,000 units are scheduled to open in 2014 and 2015, EC Harris estimates.
Austerity Britain.
London has a pipeline of luxury-home developments valued at about 21 billion pounds ($34 billion) as a shortage of properties helped push prices to a record and spurred new projects, according to EC Harris LLP.
Investors and developers plan to build 9,000 prime apartments and houses by the end of the decade that they’re aiming to sell for more than 1,000 pounds a square foot, according to a study released today by the London-based consulting firm. Of this amount, 4,000 units are scheduled to open in 2014 and 2015, EC Harris estimates.
Austerity Britain.
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