With rents falling is this the time to rent your home?
Over the past year a large number of people have been pushed into renting a home rather than buying one, and this is largely because lenders have become far more stringent over giving out mortgage loans, which has made it difficult for many people to get the finance that they need to purchase a home. Read more
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£12m pad
January 25, 2007 by admin
Filed under News, News-Mortgages
At a time of ever-increasing house prices it is perhaps no surprise that a London apartment has just been registered as one of the most expensive properties ever.
A three-bedroom luxury apartment in London’s Belgravia has been snapped up by foreign buyers for a whopping £12 million.
That means every square foot in the apartment is worth £3,000, making it one of the most expensive properties ever, according to estate agent WA Ellis.
The owners are getting all the luxurious comforts you would expect for such a large figure, with a marble master bedroom and a 52-inch plasma TV included.
The main reason for the huge price tag however, is a simple case of demand heavily outweighing supply.
“Everyone wants to come here and most of it is City-fuelled,” Daniel Wiggin from WA Ellis told the Press Association.
“Belgravia, Knightsbridge and Chelsea seem to be among the most popular areas that they want to live in and we have an immense lack of stock – a shortage of supply and a vast amount of demand.”
