The housing boom, which spread across many of the worlds finest luxury destinations, is finally tailing off. Still, prices in London, Monaco, Manhattan, and in famous European beach resorts and ski resorts continued to climb last year, as the pool of wealthy buyers from places like China, India, and Russia grew. Price growth is slowing even in Russia with its growing population of oil millionaires.
A 35% increase last year in home prices in prime locations of Moscow might sound impressive. But prices had jumped about 75% in 2006.
In the following slides, the price per square foot is an average for prime residential properties in selected luxury locations around the world. The annual price change compares the fourth quarter of 2007 with the fourth quarter of 2006.
Source : economictimes.indiatimes.com
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