The Harrods Effect: Impressive property values & stable pricing show Knightsbridge retains its enduring appeal
Impressive property values and stable prices in both the sales and lettings market indicate that Knightsbridge retains its enduring appeal as a ?safe haven? and one of the most sought-after places to live in Central London. A new report ? The Harrods Effect – published by Harrods Estates, reveals that, despite greater economic and political uncertainty in recent times, there has been little sign of any diminution in the premium paid for property close to the Harrods department store.
With analysis supplied by Dataloft, the leading market intelligence group, and Harrods Estates in-house research, The Harrods Effect report outlines a close correlation between the price of property and proximity to Harrods.
Whilst the property market has cooled significantly in parts of London the report reveals that average £ per sqft prices for residential properties located close to Harrods have increased over the past three year period, – this suggests the residential property market around Harrods is extremely resilient. The report reveals that the majority of Harrods Estates clients who want to live in Knightsbridge typically ask to be no more than a short walk from Harrods. Many buyers and tenants are already Harrods customers and cite the convenience of living next to Harrods as being the main reason for their choice of location. Residents of Knightsbridge living close to Harrods have over one million square feet of retail space and the world-famous Harrods Food Halls ...
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