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zupermaus
May 27th, 2008, 08:35 PM
Worlds most expensive property prices finally cooling:

$400,000 is cheaper than cheap in London (about $150,000 below average small property price). Even though the prices have cooled it would buy you a one bed flat in a project, in the outskirts. :(

What rowhousing buys you in the endless suburbs (definitely not upmarket areas either), near 10 miles from the centre. Bear in mind last year these places would have been worth $60,000 more, after a decade of climbing price hikes.
These are now seen as bargains:


3 bed rowhouse $850,000
http://www.peter-barry.co.uk/WinEstate_xml/pTOWN_1554.jpg

4 bed rowhouse $900,000
http://www.peter-barry.co.uk/WinEstate_xml/pTOWN_1595.jpg

5 bed semi-detached $1.7 million
http://www.peter-barry.co.uk/WinEstate_xml/pTOWN_1541.jpg



However in central London, the prices go up staggeringly.
Its the most expensive land in the world:

7ft 6 inch by 3ft 4 inch studio (with toilet under the shower under the bed), $210,000
-formerly a wardrobe and rented out at $280 a week.
http://img208.imageshack.us/img208/6611/flatbed240505250x4508ab.jpg

6ft by 12ft sized room unfurnished, $345,000
http://i.dailymail.co.uk/i/pix/2007/01/cupboardcadogan_228x225.jpg

single room studio in this rowhouse, $610,000
http://img.findaproperty.com/rickmanproperties/lettings/p1288514.jpg


2 bedrooms, ex stables block in row (stoop to get in the door): $6 million
http://www.knightfrank.co.uk/propertyImages/S1048347/sla080198_01.jpg

ex-office, needs total refurbishment and conversion (and windows?), end of row $6 million
http://www.telegraph.co.uk/property/graphics/2008/04/26/pdolish1.jpg

5 bed rowhouse, $12 million
http://www.knightfrank.co.uk/propertyImages/S1048238/ken070382_01.jpg

6 bed, end of row:
$13.22 million
http://img249.imageshack.us/img249/5246/veniceuj4.jpg

large end of row, unspecified bedrooms, $50 million
http://imagebank.ipcmedia.com/imageBank/cache/s/sitescountrylifefeedsdatafeedsknightfranktmp207152 _KEN060206_IMG_03_e_3e4c95b3ff1ef50b4e6445e952d5ac cd.jpg

12 bed but possibility for up to 40, single rowhouse (every 5 windows along is a new house): $120 million
http://img514.imageshack.us/img514/7289/veniceng4.jpg
^These very rarely come on the market, one offer of $400 million was refused though it would have made it the most expensive property on the planet.

12 bed detached mansion (no rowhouse mate), $128 million
http://msnbcmedia.msn.com/j/msnbc/Components/Photos/040412/040412_house_hmed_8a.hmedium.jpg


penthouse overlooking Hyde Park, $210 million (normal flat here $50-170 million)
http://property.timesonline.co.uk/multimedia/archive/00153/one_hyde_park_153221a.jpg

http://www.e-architect.co.uk/london/jpgs/one_hyde_park_view_candyandcandy_020807_2.jpg

^It is thought that each flat is fitted with bullet-resistant walls and windows. There is underground parking for 115 vehicles and private lifts direct to each residence The site will also have an underground passage to the near-by Mandarin Oriental hotel, where 36 staff will be on hand to cater to residentsí needs.

Unbuilt conversion of an art deco office into 6 apartments, in St James' district, $240 million each, the most expensive property sold in the world:

Here:

http://property.timesonline.co.uk/tol/life_and_style/property/article3559490.ec



Large upmarket districts include Chelsea , Kightsbridge, Holland Park, Clerkenwell, Kensington, St James', St John's Wood, Marylebone, Fitzrovia, Piccadilly, Mayfair, Bloomsbury, Notting Hill, Hampstead, Highgate, Richmond, Twickenham, Kew and Belgravia:

Chelsea and Knightsbridge:
http://i17.photobucket.com/albums/b91/latinohunk/two/CNV00057.jpg

zupermaus
May 27th, 2008, 08:35 PM
Its not what the prices are, but what you get for them, bearing in mind British homes are far smaller than North American counterparts:

May 2008 (double the prices for $)

Greater London
Average Cost: £358,500
Detached: £754,485
Semi-detached: £408,264
Terraced: £377,503
Flat: £307,063


Change in last quarter: 0.6%
Change in last year: 5.5%
Sales: 22576

eddhead
May 27th, 2008, 10:12 PM
the 7 by 3 room with the toilet under the bed was classic. I am still laughing

Thanks!

Meerkat
May 27th, 2008, 11:01 PM
Zupermaus, why are you calling them 'rowhouses' - surely they are terraces?

I hear average house prices are falling by £500 per week, so a couple more years like this and i'll be able to buy my own place.

Like the aerial view of Chelsea by the way.

The Benniest
May 28th, 2008, 02:20 AM
This is insane. It's amazing how prices, of anything these days, just sky rocket. :(

The New York Times, a lot of times, releases some pictures in their Real Estate section of very expensive homes, sometimes going into the 10 million dollar range ... like this these. (http://www.nytimes.com/slideshow/2008/05/27/greathomesanddestinations/20080527_WYG_SLIDESHOW_index.html)

The Benniest
May 28th, 2008, 09:30 AM
^^^ Liiike...this one in the Bronx: :)

http://realestate.nytimes.com/sales/detail/185-1240324

zupermaus
May 28th, 2008, 12:30 PM
more random London prices:

bunch of grapes, $12
entry to a nightclub on Saturday (and 500,000 happily pay), $40 ($20-30 any other night)
cocktail, $24
bottle of beer in a bar $6
single entrance ticket to 15 (out of 650) Buckingham Palace rooms: $32
cheap single hotel bed in centre $110

London Stansted - Krakow by cheap airline return $5 air fare + $60 in taxes
shuttle train from centre to Stansted airport return $55.00, $160-$210 by taxi, one way
artist's paintbrush $50-$80 depending on size
single rose $10, bunch of roses $500
gallon of petrol $10
8 hrs parking $36
daily charge to drive into central London $17, $50 for SUV, $400 for high polluting goods vehicle

underground parking space in Knightsbridge $200,000
private garage in Chelsea $610,000

new 'super' hospital (read: normal hospital), $4.5 billion
9 storey office block in Fitzrovia, $1 billion (more than WTC)
http://img.photobucket.com/albums/v281/luke82/867_3_100020Make20Abbey20aerial.jpg

new Thames sewer tunnel, $4.2 billion
upgrading the London-Glasgow line to high speed (345 miles), $30 billion

RIP OFF!

MidtownGuy
June 1st, 2008, 07:23 PM
Seems London itself is a giant rip off. $12 bunch of grapes...just insane. Wow, I feel so sorry for people there. Even if the salaries are generally higher, could it possibly offset those kinds of prices? I doubt it. At TradeFair, where I shop, grapes are 1.99/ lb.
This one price, for grapes:D, confirms for me what I have been told so many times by London expats...life in NYC is much better.

Don't even get me started on the 7'x3' apartment, that's just sad and pathetic really. I thought NY apartments were bad, but that takes the cake!!

zupermaus
June 2nd, 2008, 06:28 AM
Grapes normally sell for $5-£6 a small bunch, $12 for a larger one (not huge). House prices have been plummeting since last year, with prices falling by $1000 a month, tho' some areas of London are still climbing. Oil and food prices however are skyrocketing and changing daily with some 40% higher than in January. Inflation is back.

Merry
June 2nd, 2008, 06:29 AM
Very interesting, if disturbing thread, zupermaus, thank you.


Don't even get me started on the 7'x3' apartment, that's just sad and pathetic really. I thought NY apartments were bad, but that takes the cake!!

I think it's the fact that someone can (presumably) legally rent out a space like that in the first place and then charge such an outrageous amount of money for it that's sad. Market conditions should never be allowed to endorse that level of arrogance and greed.

zupermaus
June 2nd, 2008, 06:33 AM
Tell me abouddit, I, and my generation, will never be able to afford a house in my lifetime with low or middle class pay at current prices. My only options are to move out, pay a mortgage till I'm 60 (or 40 before declaring bankruptcy), or live in Dagenham:
http://www.economist.com/images/20061028/4306BR2.jpg

zupermaus
June 2nd, 2008, 06:38 AM
These two babies have just come onto the market, not spectacular but their audacity is:

Kensington, detached:
$160 million, 12 bed, indoor pool:

http://i.thisislondon.co.uk/i/pix/2008/02/11a_29_11ahouse_415x275.jpg

Belgravia, single rowhouse
$180 million, 12 bed, indoor pool (every 3 windows along is a new house)
http://i.thisislondon.co.uk/i/pix/2007/11/009_30_belgrave_415x275.jpg