The properties in central London are said to be the third highest cost tag worldwide, at an average of £14,299 per square metre, according to recent studies. Although London can be costly, it is not exactly the most expensive place to purchase property. Many flats in London are still cheap compared to the standards in Monte Carlo where top-end apartments cost highly twice as much in London, with an average of £32,777 per square metre. Moscow properties are in second place, which cost around £14,366 per square metre. The price is higher than in London to only a slight difference, according to the Global Property found research group. The prices of properties in the English capital have been falling throughout last year, which is the reason why Moscow had overtaken out of London. The price of properties started to fall in Moscow only during the last section of the year.

Moreover, both countries have experienced strong drops in currency just recently, which would have impacted the research results as figures are counted in US dollars. The study was based on a 120 square meter average price, of high-end apartments in the middle of 110 cities worldwide, and found Tokyo as the fourth most expensive city in the world followed by Hong Kong. Other very expensive cities include Paris, New York, Rome, Singapore and Mumbai, all made up the rest of the 10 most expensive cities. On the other hand, Cairo is reportedly the cheapest city on earth. Its top-end apartments only cost £395 per square metre on average, and followed by Bangalore at £453 per square metre.

However, Central London, Bayswater, Hyde Park, Nottinghill and Mayfair are just as pricey. These sites have properties that have high demands which is not normal for an everyday buyer. Foreigners like to buy properties making initial deposits up to 50%. Central London is one of the world’s most expensive cities to live, and is apparently one of the many places in UK where you can secure luxurious London flats.