The Financial Times and its journalism are subject to a self-regulation regime under the FT Editorial Code of Practice.
May 10, 2013 2:59 pm
London is going through a makeover as dramatic as any in its history.
Like the city’s dramatically shifting demography – the 2011 census showed that white Britons are in a minority for the first time – the UK capital is going through a seismic change in its appearance.
Prices in super-prime areas, fuelled by the influx of global buyers, range from £3,200 to £3,800 per sq ft. The cost of homes in London overall has increased by 10 per cent in the past two years while high-end homes have risen by nearly a quarter.
The centre is being ringed by monumental new developments, either rejuvenating historic London landmarks or bringing new (and expensive) life to run-down areas. From Battersea Power Station in the south to the King’s Cross regeneration zone in the north, the fringes of zone 1 and the banks of the river Thames, London is being transformed by the world’s leading architects from Renzo Piano to Terry Farrell.