» Posted by Martin Weil on July 25, 2007

The average price of prime London homes, the ones brokers consider the most desirable, has soared 254 percent since 1997...Defying predictions that the market would sputter, that average rose 28.7 percent in 2006, the steepest increase since 1979, and then jumped 18 percent during the first half of this year....The decade-long leap in prices has made London the most expensive city in the world for high-end homes -- costlier per square foot than Monaco, New York, Hong Kong or Tokyo...
From Bloomberg

The article also mentions a parking place going for 250,00 pounds ($500,000 at the current rate of exchange).

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