London has once again topped the list of the world’s best cities. The British capital attracts tourists, investors, and young professionals from around the world thanks to its well-developed infrastructure and vibrant cultural scene. At the same time, renting housing here remains one of the most expensive in the world.
For the eleventh year in a row, London has topped the list of world cities. This year, the city took first place in three subcategories: prosperity, attractiveness, and ease of living.
The capital continues to attract tourists and investors; last year, international tourist spending reached $22 billion.
In addition, the city’s infrastructure is constantly being updated. Heathrow Airport exceeded its previous passenger traffic figures, and Gatwick underwent a modernization worth more than $320 million. London’s airports topped the list of the world’s best.
However, the real estate market is more complicated. Due to new tax rules, many foreigners have refused to invest in housing. As a result, sales have declined, and prices have begun to fall.
Despite problems in the sales market, rent in London remains among the most expensive in the world. The city is considered attractive to those seeking career opportunities in the British capital.
High prices are explained by the demand for housing, especially among students and young professionals. Therefore, demand for rent is consistently high, and a price decrease is unlikely. Even for local residents, rent is a significant financial burden, as the average salary in London is 4,000 pounds.