The FT ran an interesting story over the weekend saying that prices in land-deprived regions are likely to remain permanently inflated, which is why the world’s most expensive cities will remain that way.
This idea rings true if you think of property hot spots around the world; Manhattan, Singapore, London – where space is a finite commodity.
UK house prices posted strong gains in January after weak advances at the end of last year, with year-on-year gains approaching double-digit territory, according to a closely watched index.
The Nationwide house price index for January surged 1.2 per cent, showing a year-on-year gain of 8.6 per cent.
Read the full article here.
Manhattan - a classic example of land deprivation