London holds the world record for priciest property

London property

Photography: Adrian Briscoe

A recent study of top property prices has revealed that London still holds the world record for price paid per square foot.

The record was set in 2008 when the sale of a property in Kensington Palace Gardens attracted a whopping £8,500 per square foot. According to a recent review by international real estate adviser Savills, the record has yet to be broken.

The top three cities in this year’s league table are closely grouped with records set at over £8,000 per square foot. Hong Kong and New York claimed the second and third places on the list, with a property on Hong Kong’s Deep Water Bay Road selling for £8,400 per square foot and an apartment at 15 Central Park West in New York attracting £8,300 per square foot.

Properties in Tokyo, Paris, Singapore, Moscow, Shanghai, Sydney and Mumbai were also on the list.

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