Friday, June 15, 2007
London property prices outstrip Monte Carlo
London property prices outstrip Monte Carlo
London property prices are rising at the fastest rate for more than 30 years, with many houses fetching more money per square foot than Monte Carlo, a study disclosed yesterday.
Posted by david20040_0 @ 02:48 PM (512 views)
3 thoughts on “London property prices outstrip Monte Carlo”
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lvmreader says:
Compared to the real estate prices of the 1980s Bubble Economy, today’s office rents are dirt cheap. Back then, a 100-dollar bill wouldn’t buy the land it covered in downtown Tokyo, the Imperial Palace was worth more than California, and all of Tokyo could have bought all of the US. In theory, the Japanese could have bought the entire world by selling their archipelago. At the height of the bubble, Tokyo land prices reached $350,000 per square meter. Since that peak, prices have fallen by more than $5,000 billion, over 110 percent of Japan’s GDP.
Source: Japan’s Big Bang, by Declan Hayes (Tuttle Publishing)
http://www.japaninc.net/article.php?articleID=575
FAO: David_20040 – Japan IS an island. And it has over twice the population of the UK and less livable land area.
paul says:
this would be relevant if everyone in the UK lived in Belgravia.
lvmreader says:
@Paul,
That was the whole point. The valuations were based as if everyone did live in Belgravia. The same is true for London today.