High property prices 'right problem': London mayor

[LONDON] London mayor Boris Johnson said high property prices are "the right problem to have" and that technology startups are attracted to the city regardless of its "creaking" infrastructure.

In a Bloomberg Television interview, Mr Johnson said the UK capital is Europe's answer to America, drawing in migrants seeking a better life.

London's property prices have surged in recent years, boosted by record-low interest rates and cash-rich foreigners seeking a haven from political turmoil.