Prices of luxury property in London have risen for the first time in 18 months.
According to Estate Agents Savills, the prices of luxury London homes worth between $1.7 and $6.6 million rose by 4.3% in the 2nd quarter of 2009.
It’s a sure sign that the housing market is recovering after the recession according to experts. A BNP Paribas economist told Forbes.com “The Savills data is the latest of several indicators that have suggested that the worst is in the past.”
Property market analysts are also saying that it’s the previous lowering of property prices combined with the weakness of the British Pound that make London attractive to those with funds to invest.
