Luxury Real Estate in London sets another record

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.

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