Top cities

1. London �1.485m 2. San Francisco �1.388m 3. Hong Kong �1.290m 4. New York �1.195m 5. Amsterdam �1.189m 6. Stockholm �1.079m 7. Sydney �0.923m 8. Chicago �0.833m 9. Zurich �0.732m 10. Singapore �0.706m 15. Edinburgh �375,000 16. Dublin IR�357,000

Prices in some parts of Edinburgh have risen by as much as 25% in one year - with one Morningside property selling recently for 123% more than the asking price.

According to the survey, the average price of a prestigious two-bedroom flat in Edinburgh is �375,000.

However, that pales into insignificance when compared with property in London's best neighbourhoods where you would have to fork out �1,485,000.

A booming property market has seen property prices in London rise by 50%, putting it on top of the world league.

The UK capital was followed by San Francisco, Hong Kong, New York and Paris.

Some Edinburgh addresses have been in demand

A flat in what Corcoran considered London's top neighbourhood - Eaton Square - cost the equivalent of �982 per square foot.

London and Edinburgh were joined in the top 20 by Dublin in 16th place.

The property boom in Edinburgh is most apparent in areas like Morningside, Marchmont and Bruntsfield.

Figures released by Edinburgh Solicitors Property Centre show the average house price for a two-bedroom flat in these areas is �137,048.

That represents a 24% rise in comparison with the first three months of last year.

Last month, Morningside couple David and Josephine Nicholson hit the headlines when their five bedroom home - for which they had hoped to receive �380,000 - sold for �850,000.