London's lavishly high home prices take a Brexit hit
After the vote to leave the EU, prime central London property prices dropped 1.5% in July - marking the steepest fall since October 2009, according to Knight Frank
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
London
MONEYED newcomers drove London real estate prices to dizzying heights, turning even the most Dickensian hovel into a trophy property. But Britain's bid to break with Europe may finally be cooling the most expensive big-city housing market in the West.
This is still the land of the US$200 million condo, with prime central London real estate forming the foundation of British wealth. But a flood of price drops and cancelled contracts is coursing through London's streets, hitting even the immaculate enclaves of celebrities and oligarchs and becoming the most tangible sign yet of economic trouble in the aftermath of Britain's vote to exit the European Union, or "Brexit".
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
