If you're in the luxury real estate business, it's important to keep up with what is happening both locally as well as nationally and internationally in terms of the properties that are leaders in terms of price. We have several here in the U.S., but the current title holder for the most expensive house goes to a new condominium subdivision in London, One Hyde Park.
While the U.S. market has found it difficult to break through the $100 million barrier (there have been a few properties that have done so), the two story, six bedroom apartment in Knightsbridge blasted through the $200 million barrier selling for a cool $140 million pounds (almost $224.6 million). Speculation is that buyer is either Middle Eastern or Nigerian.
The property is still under construction with a scheduled completion date of December, 2010. If you visit the website, they have a series of six time-lapsed photography videos that show the construction through every step of the process. Going through all the construction videos is a little tedious, but skipping through them provides an amazing education about what is required to produce a project of this magnitude.
Posted by Bernice Ross
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