London luxury property market shows mixed signals with price declines and reduced foreign interest

A mansion near Regent's Park in London has sold for £195 million, making a profit of £56 million for the seller. That is about $74.7 million. The buyer had purchased the property earlier and then resold it at the higher price.

However, not all of London's luxury property market is doing so well. In Knightsbridge, house prices on Montpelier Square have fallen compared to ten years ago. Fewer foreign buyers are now purchasing homes there. This is a change, because wealthy international buyers have traditionally been very active in the area. Montpelier Square is close to Harrods and Hyde Park, making it one of the most desirable addresses in the city.