Record prices in London: luxury house has not built, but already sold

Sept. 29, 2014

Record prices in London: luxury house has not built, but already sold

London again hits record prices on property market. 18 apartments on the famous Piccadilly, in Mayfair, were sold for £210m (approx. €269m). On average, one apartment in a residential complex Clarges Mayfair cost £11.6m (€14.9m), while the project is not built yet, the ee24.com reports with reference to The Guardian. Customer names are kept secret.

The average price per square meter in the complex have already amounted to £54,000. 4 penthouses overlooking Green Park and Buckingham Palace, where Elizabeth II dwells, were sold for the same price for sq.m.

The elite 10-storey complex Clarges Mayfair in London will be built by 2017. The developer British Land bought the land in Piccadilly in 2012 for £129.6m. There will be 34 apartments with 1-5 bedrooms, private cinema room, 25-meter swimming pool, gym and sauna.

Piccadilly is far from the most expensive street in the UK – Kensington Palace Gardens, where the average value of houses is £42.7m (€53.64m). The most active foreign buyers of expensive real estate in London, according to the latest data, are the Italians, French and Russians. More information on the dynamics of prices on the British housing market read here.