Every one agrees that the real estate prices are bouncing back after the recessionary slide in prices was halted. But every once in a while even the experts and pundits of the industry are pleasantly surprised by the prices the trophy properties command. The estate agents could not contain their amazement as a London property was on the verge of being sold for 140 million Pounds.
This price will make it the most expensive flat in the world. The flat is of course large still the cost works out to 6,000 pounds per square foot which is rather high even for London standards. It is a two floor apartment in the One Hyde Park, Knightsbridge block. It has floor to ceiling windows, its own car park and access to a host of spas and squash courts.
The previous record for the most expensive flat was held by a Central London development at St. James Square. The transaction had taken place in 2008. This flat though deserves the most expensive tag as it is connected to the neighboring Mandarin Oriental Hotel. The TV Chef Blumenthal will soon be opening his first London restaurant in the hotel and residents can avail of 24 hour room service.