Knight Frank’s Global Cities 2016 report is out and it’s a gold mine of information on property markets around the world.
It’s no secret that London’s property market is going through a huge boom at the moment but one crazy graph from Knight Frank’s report highlights just how far ahead the city is compared to the rest of Europe.
It shows investment in commercial property — offices, retail space etc. — in key cities across Europe during the year to the second quarter of 2015.
London comes out on top and the gulf between the city and the rest of Europe is so large the graph is almost too big to fit on the screen.
A huge $US49 billion (£31.7 billion) has been pumped into London property in the period, more than double the total invested in the number 2 city, Paris ($US21.6 billion/£13.9 billion). Frankfurt, in third place, had just $US8.7 billion (£5.6 billion) invested.
It’s not hard to see where all the money is going. London is going through a skyscraper boom at the moment, with high rises rapidly filling the skyline of the once iconic low rise city.
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