Monday, 14 April 2014

Prices in London

London is one of the most expensive cities in the world to live in. As it is closer to home we tend to not realise but London is up there with New York, Paris, Rome and Hong Kong for the most expensive places to live and work. A recent article that came to my attention proves this point exactly as Bond street (both Old and New) has some of the highest rent prices per sq foot of anywhere in Europe. This applies largely to the more commercial areas as this is a street laden with shopping outlets but verifies that prices in London are sky-rocketing.

A segment on BBC news showed how the housing bubble was increasing beyond comprehension in the city as more and more estate agents are opening in the city. This means that each agency is getting fewer sales and struggling to maintain their share in the market. The one benefit is with higher prices each sale is much more valuable to each business, and if recent form has shown us anything though it is that when prices rise in London they very rarely fall. This means that the centre is becoming even more exclusive and commuters are having to move further away from the city.

Bond Street retail space has been valued at £838 per sq foot and that is the equivalent of more than 3 hours with the most beautiful couple escorts Couple VIP. The major brands though are paying these premium prices to have the honour of being a feature on one of the most exclusive shopping streets in the world. Underwear brand La Perla have famously paid Gina Footwear a price in the ball park of £5 million for a relatively small shop on Old Bond Street. This is escalation of the highest level with increases of 15% in the past year.

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