London continues to carry the highest € per square metre across the continent despite a recorded slowdown in price growth across the region, according to pan-European data from BNP Paribas Real Estate.
London takes first position over key European cities, including Paris, Amsterdam and Oslo.
Alexander Millett, head of BNP Paribas Real Estate’s International & Private Client department said: “Compared to some of our European neighbours, London’s more modest price growth in recent months coupled with its retained high value means that the investment window looks incredibly ripe for super-prime assets.”
Reflecting on the data, Keir Waddell, head of London new homes sales, commented: “London’s reputation as Europe’s top residential city, and indeed as a global capital city, together with the high value of transactions we are seeing, signifies the resilience of prime and super prime developments across the UK capital and sets the tone for the year ahead.”
“Thanks to the strength of the dollar against the pound, there is a global perception that London is on sale and, despite stock shortages, this is the main reason we’ve seen such a high number of overseas buyers cashing in. Most are taking a long-term approach to investing in their London home, and a large proportion of buyers are hailing from overseas including the United States and Singapore.”