The real estate markets have bounced back and firmed up after hitting rock bottom during the economic downturn. Luxury properties are coming back on the market and consistently creating new records. 18, Carlton House Terrace, a mansion in London has become the most expensive house in the world as it has been listed for an asking price of £250 million. The price tag may seem to be mindboggling but the agency handling the sale is confident of finding a buyer early next year. The six storey house considered to the finest residence in London is a Grade I listed Regency mansion. Since the property is the very highest end of the market, the brochure prepared for the sale has been kept confidential and has been privately distributed among the super rich only.
The Big House Has 50,000 Sq. Ft. of Living Space
The location of the house also makes it an exclusive property as it is less than a mile away from the Buckingham Palace, the seat of the British Monarchy. In fact the entire road boasts of big names including the Hindujas, a big Indian business family. The road is close to Royal Society, the Institute of Contemporary Art and the Mall Galleries making the house ideal for culture buffs. The house is really big and boasts of a total of 50,000 square feet of living space. The current pictures of the interiors have not been made available for security reasons. Some vintage black and white pictures have been made available to project the sense grandeur the house exudes including a ballroom and a sweeping double staircase.
The House is Probably Owned by a Saudi Royal
The ownership of the house is not very clear. Industry insiders believe that the house is owned by a member of the Saudi Royal family but according to the Land Registry documents, the house is owned by Carltop Estates, a company registered in the British Virgin Islands. The potential buyer must be prepared to invest in decorating the interiors as many of the rooms are believed to be empty. The stamp duty at the listed price will also work out to be around £17.5 million. However, the council tax for the house is very reasonable at just £1,361.48 per year. Watch this space in case the most expensive house finds a buyer who is willing to pay 1,537 times more than an average British house.