Whirlpools World

ALTHOUGH globally the trend for property prices is still on the up, the very top end of the market seems to be either stagnating or starting to fall. In London, for example, prices have almost doubled in the last decade. However new developments such as a block of 274 luxury flats in Blackfriars priced between a million and 15 million pounds are struggling to shift. There are similar stories coming out of some of the world’s priciest cities such as Hong Kong, New York, Sydney and Vancouver. Experts believe the luxury market has probably peaked and such properties are being purchased to live in rather than for investments.

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