London is the capital and largest city of the United Kingdom and a global financial, cultural, and political hub. It is also the most expensive city in Europe to buy real estate, with an average price of $25,133 per square meter in 2024. London’s real estate market is driven by its strong economy, status as a haven for investors, limited land availability, historic and diverse architecture, and appeal to foreign buyers. London’s overall prospects for 2024 are rated 2.24 out of 5 by the Urban Land Institute, indicating a moderate confidence level in its future performance.