mondoboston.com

Posted by Pam on June 24th, 2008 in real estate market

While housing prices have certainly calmed down in Boston recently, the same holds true for many other cities around the world. Two examples: Rome and London.

According to the Tecnocasa Real Estate Agency, prices for homes in Rome fell by an average of 0.9 percent in 2007. As in Boston, prices of homes located in the central Rome have held steady, while prices in neighborhoods on the periphery have dropped more significantly. The most expensive homes in central Rome now run about 12,000 Euro per square meter. The least expensive homes in downtown Rome run 3,800 Euro per square meter. Most people looking for homes in downtown Rome are looking for three rooms — the equivalent of a one-bedroom apartment.

Meanwhile in London, price increases have also slowed, after many years on the rise. According to the British Land Registers Offices, average prices for homes in London now begin at 185,000 pounds and go up to about 1 million pounds. Prices are dropping overall, but prices of high-end properties remain strong, mirroring the same trend in Boston.