London’s Pricey Real Estate

London is one of the most expensive cities in the world. Yet, the real estate is always in high demand, regardless of the price. In fact, many residential properties in London are owned by international billionaires who understand the city’s market values. Celebrities, such as Tom Cruise and Gwyneth Paltrow are looking at and purchasing properties in the amazingly hip European city, as well. The real estate industry in this market is definitely booming yet as one report showed, 34 percent of the buyers in the London areas of Belgravia, Kensington, Chelsea and Mayfair are not living there. It seems the rich and famous foreigners from Russia, Southeast Asia and India are buying up incredible properties and, in some areas, foreign ownership is as high as 59 percent.

Prices continue to escalate and local London residents are finding it more difficult to afford to live in the central part of the city. The obvious challenge for the government is the fact that many foreign property owners barely uses their London homes and therefore, are not contributing to the local economy on a regular basis.

But the wealth lives on as evidenced by the fact that three of the ten most expensive properties in the world are in London: The most expensive is a Regency residence at Carlton House Terrace in St. James that is estimated at $415 million. The second most expensive is owned by Saudi Prince Abdul Aziz bin Fahd, who owns a mansion on London’s Billionaire Row; his property is said to be worth $166 million. The third property on the list actually comes in tenth and is the former residence of  William Lyle (Tate & Lyle sugar family). This property is on the market for a mere $107.9 million and is located in The Bishop’s Avenue, Hampstead.

Today, we’re going to introduce  you to three elegant detached homes – each found in the luxury districts and each priced for billionaires.  All three are appointed in the finest materials, fabrics, decor and features many of us think of as extravagant, such as pools, home cinemas and multi-car garages.

1. The Bishop’s Avenue Mansion: $63.1 Million

   

This lovely mansion sits on 1.2 acres in one of London’s most desirable areas, Highgate – which is the north-eastern corner of Hampstead Heath. The home welcomes its guests with its two-story atrium that elegantly brings nature into the scene. As you can see, it boasts an indoor swimming pool, for those water or exercise enthusiasts, regardless of the season. There are seven bedrooms, ten bathrooms and five large reception room, plus state-of-the-art kitchen and appliances, a game room, a gym and a home cinema. A perfect home for a family with kids. The teens will be ecstatic when they see there is room for four autos in the spacious four-car garage.

2. Hamilton Terrace Villa: $62.3 Million

   

This villa is contemporary from head-to-toe on the inside and traditionally London on the outside. It’s lush decor includes recessed mood lighting and the artistic appointment of furniture and accent pieces. Although it does not include a garage, it does provide off-street parking for two autos. The interior is enormous and includes seven bedrooms, seven bathrooms, nine large reception rooms, a gym, swimming pool (indoor), steam room, treatment room, cinema and private game room. Across the the impeccable manicured garden is a separate three-bedroom mews home, which is originally designed for storing horses and carriages, but is now perfect for guests or the staff.

3. Herbert Crescent Faux Tudor: $36.5 Million

   

This 6,000 sq. ft. home in exclusive Knightsbridge is beautifully designed. With six floors that are accessible via the sweeping staircase as well as a lift (elevator), the spacious interior includes three large reception rooms, a large dining room, seven bedrooms, five bathrooms (4 that are en suite), two shower rooms and other traditional closets and rooms. The bonus features include a roof-top terrace, a patio garden, a swimming pool and a conservatory. This area of London is near Hyde Park in a high-end residential area that is situated near excellent restaurants and stores, such as the world famous Harrod’s department store.