Billionaire Homes in London

There are a few streets in London that are homes to some of the richest billionaires in the world. In fact, the ironic thing is that the homes are so expensive and the owners so rich, that many of them stay vacant throughout the year. The reason is obvious, billionaires have more than one home so they may only stay in each of them for brief periods of time while keeping one or two as their primary residence(s). In the last decade or two, London has become known as the “billionaire capital of the world”.

Today you’ll see a few of the more popular areas and a few homes to give a sampling of what billionaire’s homes in the U.K. look like.  Just like in any part of the world, sometimes cost is not equal to square footage. When it comes to homes, it is often more about location, location, location.

Bishop’s Avenue

Bishop’s Avenue is said to be the second most expensive street in London and used to be called Millionaire’s Row. Since prices have continued to increase over the last couple of decades, the homes are now too pricey for many millionaires and can only be afforded by billionaires. The street is now referred to as Billionaire’s Row. Although there are several billionaires living in their homes, this street is also known for having vacant owners who are letting their mansions go into ruin. They don’t actually care because the value of the properties continue to rise, so there is nothing to lose. It is projected by some architects that the street will ultimately be transformed into luxury condominiums for the younger, affluent up-and-coming.

The Royal Mansion

The Royal Mansion – owned by a 75-year old Kazakh property billionaire named Hourieh Peramaa, is how this street all started. The land known as Bishops Wood used to be owned by the Bishop of London in 704, where ownership was retained until the lates 1800s,  when it was broken up and sold into plots.  The only plot the church kept was this one – 46 Bishops Lane. Not long ago, current owner Hourieh Peramaa invested an additional $50 million over the purchase price to renovate the property and turn it into this lavish, elegant mansion. It’s nothing short of spectacular.

The Windsor House

For those looking for a new home, this luxurious mansion just came out on the market in June 2014 for around $21.5 million (12.5 British pounds). It’s 10,750 square feet property has eight bedrooms, staff quarters, a private spa, an underground garage, an indoor/outdoor swimming pool, home cinema and filled with other grand amenities and features. Some of the walls in the entrance are studded with Swarovski crystals and there are three crystal chandeliers on the three floors and door handles that are decorated with 300 Swarovski crystals, so there is pricey bling everywhere.

Egerton Crescent

Egerton Crescent is located in the Royal Borought of Kensington and Chelsea and is where billionaire’s own the most pricey real estate in the United Kingdom. The average price is $12.6 million and the style is strictly Georgian.

Most of the homes are terraced, as you can see in the photo, and they share a communal garden that costs nearly $14 million to develop and  maintain. The purchase price of any home on this street is more than 32.5 times the average price for a home in the U.K. For example, a four-bedroom home cost $20 million in a recent transaction and the prices continue to increase even during this period of a slight real estate slowdown in London.

In the top photo, check out this $17 million home – this is a great example of the elegance and style found in this area of London. The second photo shows a modern and updated kitchen in a six-bedroom home that is currently for rent. Although, the row-house concept doesn’t appeal to everyone, Londoners are quite accustomed to that style of living where the homes might be longer than they are wide. However, roominess does not seem to be an issue with the millionaires and billionaires who own them.