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London Surpasses New York in The Global Property Investment League

London Surpasses New York in The Global Property Investment League

Global property investment has reached its highest level since 2008 according to a recent Global Development Report compiled by upmarket estate agency Knight Frank. Both New York and London held top spots as the world’s most sought after cities but the report revealed that London outstripped New York and other major cities in the world on prices and sales over the past five years.

In 2014 alone, there were 1,638 properties sold in London for more than $5 million (around £3 million), compared with 796 in Manhattan, 258 in Sydney and just 21 in Los Angeles. London investment volumes also surged by 13.4% from $48.7 billion to a staggering $55.2 billion, taking its market share to 5.9%.

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