The cost of real estate in the Hyde Park area in London broke the world record

Prices for apartments and houses located in the area of roads around the Central Royal Parks (Royal Parks) in London grew by 172% over the last 10 years.

This is comparable to the growth of prices for apartments in the London area other parks, including Regent’s Park, Kensington Gardens, Hyde Park, Green Park and St James’ Park, which grew at roughly the same pace.

At the fastest pace in the last two years the prices for real estate in Hyde Park in 2013, in 2014 they grew by 23.8%.

London is the capital, which is proud of its green spaces in the heart of the city. London exceeds in size the green parks of new York, Paris or Tokyo.

Life near the Park is an exclusive and priority advantage, and many buyers are willing to pay for the privilege of a lot of money. In 2012, the influx of buyers in the super-luxury property in the areas parks has provided to sellers a premium of 32% compared with property in other luxury areas of London.

Residential property in the Hyde Park area, especially in the most prestigious addresses on the South side of Hyde Park at One Hyde Park and 4-5 Princes Gate, reached the price of £9000 per square feet. This is a record price for London. Property prices adjacent to the North side of Hyde Park, made up of £3500 per square foot. It is very substantial premium, pay extra for proximity to the Park between the southern and Northern side of Hyde Park. If in the North side she is 43.2%, then the South side of 67.7% compared to real estate in the surrounding Hyde Park areas. Interest in life near Hyde Park is enhanced by British buyers. 26% who live here, have another house and 38% in the UK.

In recent years, the interest in buying residential property in London in the area of parks has increased significantly. If in 2005 for a life in district 5 of the largest parks were the Supplement is an average of only 5%, in 2013 – 2014, it already accounted for 20%. The most significant price spike occurred in 2006-2007, when it launched a series of housing class “luxury” in the area of Hyde Park, where penthouses have broken all world records.

Interest in the property in the London parks, and will continue to be high and provide a high increase in price.

® Maxim Savitsky. 08.09.2015

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