CNBC: Prime Central London property had looked almost immune to economic problems in the rest of the U.K and the euro zone in the past couple of years.
This could be changing.
In July, prices for properties over 2 million pounds ($3 million) in areas like Chelsea and Mayfair grew by 0.5 percent — the lowest rate of growth in almost two years — according to estate agents Knight Frank.
This came despite plenty of interest from buyers elsewhere in the euro zone looking for safe havens. Interest from prospective buyers rose by 23 percent in the three months to July compared to the previous quarter, according to Knight Frank.
And internet searches for London property rose by 9 percent from Italy, 10 percent from Spain and 50 percent from Greece in May, according to Savills. » | Catherine Boyle, Staff Writer | Thursday, August 02, 2012
