The map, representing the number of properties sold for over £1m in the three cities, shows a stark contrast between the capital and other major urban areas.

The number of homes sold for more than £1m in London rose by 20 per cent last year to 6,145.

This compares with only a handful of houses in Manchester and Birmingham combined which sell for seven figures and above.

A Mayfair flat with less floor space than an underground tube carriage has recently joined the ranks of the capital's £1m homes.

The basic home has one bedroom, a small kitchen, bathroom and living room and is spread across just 461 sq/ft - making it the same size as a large living room in a typical family home.

The property, on the market with Wetherell Estates, has attracted its eye-watering price-tag because of its location. 

Nobu, the world famous restaurant, is a few doors down, while the Ritz is at the end of the road. 

Peter Wetherell, who is managing the sale, said: "A few years ago you could find a property like this for £250,000 but an entry-level one-bedroom flat in Mayfair is now £1 million.

"It could be a very nice pied-a-terre but I think someone will actually live there. It is the first rung on the ladder for the Mayfair experience."

It was revealed yesterday that four out of ten £1m homes bought in the capital were purchased by foreign buyers.

Russians, Indians and Italians were the biggest non-British buyers of top-end properties.

Research based on Land Registry figures showed that Russians spent more than £536 million on 264 million-pound homes in London last year. 

Indian buyers were not far behind, spending £449 million on 221 properties, while Italian buyers were third on the list, spending £436 million on 215 properties.

www.express.co.uk/