The apartments near the Royal Parks in Central London have risen to premium price levels. The marketing prices of apartments near the five central Royal Parks in London have increased. It led to 172 percent growth in the last decade as stated in a previous report by Propertywire.
This is likened to prices for other leading properties in London which are not near to this esteemed group of green space that comprises of the Regent's Park, Kensington Gardens, Hyde Park, Green Park and St James' Park. Gaspark previously reported that, "Hyde Park, which stretches across central London, has seen the greatest rises between 2013 and 2014 alone." The premium properties in close proximity to the park was at 23.8 percent as well.
Gary Hersham of Beauchamp Estates earlier noted that, 'London as a city is rightly proud of its green spaces, which define the centre of London and provide more outside public space than New York, Paris or Tokyo.' Gary Hersham further stated that living next to a park is increasingly a priority for many buyers in the prime London property market. Propertywire also reported that, "In 2012, an influx of super luxury developments pushed the premium for living park side to 32 percent over other prime central London areas. Living in a close vicinity to a Royal Park is a pre-requisite of many high net worth individuals acquiring properties in London.
According to a previous data given by Propertywire, "The north side of Hyde Park has achieved values of around £3,500 per square feet." The north side of the park also has fewer of a gap between park side properties and the nearby areas. The south on the other hand has 43.2 percent premium to live park side for the north versus a 67.7 percent premium for apartment properties on the south.