Luxury Real Estate in London sets another record

by Mark Knowles on June 3, 2008

While Luxury Mansions in Florida may be selling at twenty percent below the original asking price, a mega-mansion in London is set to sell for £117million ($229 million) – making it one of the world’s most expensive homes.

Most expensive home in London

The palatial residence is on a street dubbed “Billionaires’ Row,” and is believed to have been bought by Britain’s richest man, steel tycoon Lakshmi Mittal.

The home in Kensington Palace Gardens, West London where Princess Diana’s once lived, is being sold complete with furniture and art collection. Even including these accessories, the price is a stunning $16,000 per square foot.

Mr Mittal is currently denying the rumor, but is known to have been looking for a property for his son, Aditya. Mr Mittal already owns a property on the street and moved into the half-mile, tree-lined private avenue four years ago after paying £67million for a twelve-bedroomed house.

This new sale beats the £115million previous record – which was paid in March for a luxury flat being built in nearby St James’s Square, and makes Donald Trumps recent sale of his luxury residence in Florida look like small potatoes :)

{ 2 comments… read them below or add one }

john hall December 3, 2010 at 12:31 am

see the UK is far better then the US, we have the best houses by a mile! and as you can see from searching on google the most expensive! Londons great! i think every celebrity has a house in London! :L

BP February 4, 2011 at 5:57 am

Dear John Hall. The house in question is clearly a magnificent piece of real estate… one of many in London. But why don’t you learn how to spell before stating that one country is better than another. London is great and many celebrities have homes there. However, a global entertainer is nothing until he/she attains success in the US market. Sorry, that’s just a fact. Get over yourself.

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