Tag Archives: prime property

Some London streets really are paved with gold House Prices, Landlord News, Latest Articles, Property News

Plush Kensington and Chelsea is the streets ahead as the most expensive place to buy a home in Britain – with average house prices of nearly £2 million.

Buying a house in Kensington costs around £1.87 million and is £90,850 (5%) up on last year’s prices, according to online property portal Zoopla. Continue reading Some London streets really are paved with gold

10 Facts About £1 Million Property Sales Latest Articles, Property Market News

Around 19 homes worth £1 million or more were sold every day for the first six months of the year, according to Lloyds TSB.

A total of 3,375 £1million pound property sales were sold – the most since the 3,680 sold in 2007 and 10% higher than the 3,075 sold in the first half of last year.

Lloyds TSB housing economist Suren Thiru said:  “The number of homes sold for at least a £1 million has increased significantly over the past year in marked contrast to the rather more subdued picture across the rest of the housing market. Continue reading 10 Facts About £1 Million Property Sales

Secret Billionaire Pays £7,857 a Day Rent for London Flat Latest Articles, Lettings & Management, Property Market News

Monopoly houses on coins

"The London prime property market is flourishing"

Demand to let prime London property is surging with rents reaching £55,000 per week for the cream of homes.

Wealthy visitors settling in London from overseas are driving the market – with cash-rich tenants from Russia, the Middle East and Asia battling for the best properties.

Harrods letting agency set the record with £55,000 a week- £7,857 a day – to rent a Central London flat to an Arab billionaire. His name and the flat location are closely guarded details as he demanded complete confidentiality.

“The prime property market in London is the fastest growing area in the UK. We have not only seen an increase in demand from buyers but also those looking to rent which in turn is pushing prices up,” said Shirley Humphrey, sales and marketing director of Harrods Estates.

“Some 89 per cent of our sales are from high net-worth individuals from overseas, particularly Russia, Middle East and Asia, where we achieve our highest sales. The short supply of property and high demand from international buyers is unlikely to slow, indicating prices to buy and rent will be even higher by the end of 2011.”

The cosmopolitan nature of London lettings is reflected in Harrods hiring interpreters covering 27 languages.

A look at other leading London letting agents gives an idea of what rents of £30,000 a week or more can secure for the wealthiest tenants.

Knight Frank is offering a furnished seven bedroom house in Brick Street, Mayfair for £40,000 a week – £5,714 a day – comprising a drawing room, dining room, cinema, study, bar and games room, seven bedroom suites, swimming pool, gym, solarium, underground car park, courtyard and roof garden.

If that price is too rich, Savills have an unfurnished seven bedroomed end of terrace house in plush Eaton Square, Belgravia.

A cool  £30,000 a week – £4,285 a day – secures a Grade II listed house with three receptions, dining room, study, media room/library, garden room, swimming pool, utility room, cellar, two garages and staff quarters consisting of two en-suite bedrooms, a reception room and kitchen.

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