The most expensive luxury housing is, according to a survey, in London

Prague - The most expensive place for luxury housing remains London, where the price per square meter of luxury apartments last year averaged £32,600 (more than a million CZK). This is indicated by a survey by the British development network Knight Frank, which is highlighted by today's Hospodářské noviny (HN). According to the survey, the purchase of luxury residences last year cost an average of 11 percent more than the year before.
    Among the most expensive locations is also Monaco's Monte Carlo, where the price for a square meter of luxury space was £31,000, the survey stated. In Prague, according to the developer, it was about 87,000 crowns.
    "The fastest-growing prices for luxury residences were in emerging economies, such as China and countries in Eastern Europe. The second focus of price increases was the world's financial centers and recreational areas in France, Italy, and the Caribbean," said Liam Bailey, research director at Knight Frank.
    The highest increase, by 40 percent, was seen last year in the prices of housing for the wealthy on the Central American island of Antigua. Luxury properties in the French city of Saint Jean Cap Ferrat, located not far from the resort of Nice, rose by 39 percent, while prices in Russian St. Petersburg increased by one percent less.
    However, not everywhere saw price increases; for example, in the Irish capital Dublin, the prices of luxury apartments fell by 15 percent last year.
    According to Bailey, there is significant potential for the coming years in the purchase of second or vacation homes, which people from Eastern Europe and China will show increasing interest in. He is not concerned about a slowdown in the growth of luxury housing prices due to the mortgage crisis.