London's Diamond Properties

If you own a pad in the west end or central London, hold onto it, because it's probably the most sought after property in the world. To buy one of the best flats in the city's centre, you should be willing to fork out over £100 million.

Last year, a flat in St James square, converted from a 1930s office block, officially broke the record for the most expensive flat in London, hitting the market at £115 million. Previously, the most expensive apartments were the four 'One Hyde Park' penthouses in Knightsbridge, developed by Candy and Candy. They come complete with bullet proof glass and panic rooms, making them the perfect places for high-profilers. These exclusive pent-houses are, ironically, increasing in value during the property recession.

"The super-prime sector of £10million and up has become completely detached from the rest of the market," says Liam Bailey, head of residential research at the property consultants, Knight Frank. This just goes to show that the super-rich have been relatively unaffected by the credit crunch. Bailey attributes this to spiraling commodities and oil prices as well as hedge funds that all serve to further enrich the moneyed.

The one million and above market has also not been as affected by the recession as much as the middle of the range sector. If olde worlde is not for you, you might be more interested in the something a little to the east, where prices tend to be lower and exclusive apartments are springing up all the time. New Atlas Wharf on the Isle of Dogs is retro-chic at its best. Designer Richard Evans combines Asian artistry with opulent wood features, and for the price of £1.65 million you have access to sport facilities and a concierge. The Japanese garden and hot tub will certainly attract many interested buyers in the future.

Bailey warns that the high-end properties might begin to become less immune to the recession in the future, which bodes well for those looking for a London penthouse at a cut, later this year. The charms of St Paul's Cathedral at night and the gleaming Gherkin have obviously not worn off yet for foreign property investors, though, as they are still scrambling for the most expensive west-end properties at whatever the cost.

Frances wrote this article for Kay and Co Real Estate Agents Kay and co specialises in high quality London and International real estate