Saturday, June 27, 2009
Roll out that old chestnut of foreign buyers
June 27 (Bloomberg) -- Londonâ€™s most expensive luxury-home prices increased this month for the first time in more than a year as European buyers including Russians took advantage of the poundâ€™s weakness, Knight Frank LLP said. The average price of houses and apartments worth 10 million pounds ($16 million) or more rose 1.9 percent in June from the prior month, the London-based property broker said in a statement today. Prices fell 16 percent from a year earlier. It was the first monthly increase since April 2008.