There's no denying that London is Europe's real estate capital of eye-watering cost.
And rightly so. Though America's property market is being shaken by the current lending crisis, London's so-called super-prime property arena, made up primarily of high-end, high-cost flats, is skyrocketing.
From wealthy bankers in London's financial district to old-money aristocrats, the range of buyers reaches far and wide. But a growing international clientele, in particular, is helping drive up prices. They're attracted by London's favorable tax system (foreign residents are taxed only on their overseas earnings), fashionable schools and good living. Of the 19 billionaires living in London, only 11 are British citizens.
