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Old 01-24-2007, 10:50 AM
 
Location: Bay Area, CA
29,038 posts, read 45,055,577 times
Reputation: 20425

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This article is for NAH in particular, since he's amazed by the prices here in California... a 77 square foot (yes, 77) apartment in London is on sale for $335,000!! That's smaller than a typical apartment-sized bedroom, and I can't even imagine where you'd put everything... not to mention, it isn't even big enough for a real bathroom & kitchen. Anyway, I just thought you'd all find this funny - hopefully the link is an "authorized site".

http://news.yahoo.com/s/ap/20070122/ap_on_fe_st/tiny_apartment_2 (broken link)
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Old 01-24-2007, 11:02 AM
 
5,019 posts, read 12,748,026 times
Reputation: 6987
LOL, Saw that yesterday. The pictures are great. I guess it's all about location location location!
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Old 01-24-2007, 11:09 AM
j33
 
4,625 posts, read 12,871,753 times
Reputation: 1668
I read that too, and I thought some of the studios I looked at once while apartment hunting were small (200sf).
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Old 01-24-2007, 11:15 AM
 
Location: The Big D
14,874 posts, read 37,280,669 times
Reputation: 5787
I heard this on the radio this morning. Not even electricity is included . A small "coffin sized shower"? No thanks. Sorry but I would not buy this if I had the money to throw away. I don't need the "address" to make me. I almost feel sorry for anyone that would buy this but then I would not. Afterall no one is forcing anyone to buy it.
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Old 01-24-2007, 11:20 AM
 
Location: Bay Area, CA
29,038 posts, read 45,055,577 times
Reputation: 20425
Quote:
Originally Posted by momof2dfw View Post
I heard this on the radio this morning. Not even electricity is included . A small "coffin sized shower"? No thanks. Sorry but I would not buy this if I had the money to throw away. I don't need the "address" to make me. I almost feel sorry for anyone that would buy this but then I would not. Afterall no one is forcing anyone to buy it.
Yeah, their coffin analogy was a bad one... I'm not showering in that!! And I agree, nobody would force someone to buy it, so I wouldn't really feel sorry for them. I can understand paying for an address, if you can afford something decent - but this is too much of a sacrifice!
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Old 01-24-2007, 11:23 PM
 
Location: Sherman Oaks, CA
6,239 posts, read 15,454,358 times
Reputation: 8110
This would only be remotely doable if you're almost never home - in which case, why buy it in the first place?! What would you say, something like, "Well, at least I'm in London, close to everything - including all four of the walls here!" There's no way I could live like that unless the alternative was homelessness.
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Old 01-24-2007, 11:57 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,993,929 times
Reputation: 991
Just insane! Look at the pictures! That thing is as tiny as some walk-in closets! The bathroom cant be more than 20 square feet and the shower is so tiny youd be pressed against the opposite wall with hardly room to turn around! The "bedroom" appears to be 5.5 feet wide by 11 feet long, about 60 feet square. My bed would take up nearly half the square feetage! 77 square feet for $335k comes out to about $4350/foot! But as strange as this sounds, theres reasons. I read that you can get tax exemptions so basically what you save on taxes will pay for this tiny studio!

Theres "cheaper" condos/apartments but still very expensive! I checked the real estate prices and found some listings of 200-250 square feet studios in the £200k to £250k pound range. Multiply by 1.98 to arrive at dollars and you can see that the costs can be around $2000 a square foot! Some examples were going for over $2500/foot!

Ive been to London as a tourist and have some knowlege. I read the news that real estate used to be flat several years ago but its appreciating again and at about 6% a year(more in some desirable areas) and there also was a story of one couple with a budget of a million pounds! They found some condos priced between £495k to £1.1m and size was 1 to 3 bedrooms, 400 to over 1000 living square feet, I believe. Price per square foot ranged from between $1200 to $2500! The story went on to explain which was the best "deal" and the pros/cons for each condo and location. Very interesting read

Maybe I shouldnt complain too much about those "insane" house prices in south Florida. Yes they are quite expensive but a tiny fraction the price of London! Prices range from $150 to over $350 a square foot while in London im guessing youll be hard pressed to find for under $800/foot and they can can be over $3000 a foot(ive heard up to $7500!) What does years on the unexpired lease term mean? Some of them are being sold with xx years remaining. I have a friend in London that commutes 40 min by underground to work(and back) he bought a terrance(row of many attached homes) for £112k its 2 bedrooms and he estimates it to be near 1000 square feet. He and his girlfriend share it. He told me prices get dearer ever year so he had to buy now. As for renting, waste of money when the mortgage is barely more than rent!
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Old 01-25-2007, 12:34 PM
 
5,859 posts, read 14,058,730 times
Reputation: 3486
Default London???

Quote:
Originally Posted by gizmo980 View Post
This article is for NAH in particular, since he's amazed by the prices here in California... a 77 square foot (yes, 77) apartment in London is on sale for $335,000!! That's smaller than a typical apartment-sized bedroom, and I can't even imagine where you'd put everything... not to mention, it isn't even big enough for a real bathroom & kitchen. Anyway, I just thought you'd all find this funny - hopefully the link is an "authorized site".

http://news.yahoo.com/s/ap/20070122/ap_on_fe_st/tiny_apartment_2 (broken link)
What??? London has no sunshine, no beaches and cold, cloudy and sometimes snowy weather! You certainly won't find a died-in-the-wool Floridian who'd buy that place!! The idea!!!
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Old 01-25-2007, 12:40 PM
 
Location: Haddington, E. Lothian, Scotland
752 posts, read 620,488 times
Reputation: 175
Quote:
Originally Posted by Ben Around View Post
What??? London has no sunshine, no beaches and cold, cloudy and sometimes snowy weather! You certainly won't find a died-in-the-wool Floridian who'd buy that place!! The idea!!!
It's Knightsbridge, the weather is not the point. That area is where the £££ are.

I'd buy it if I had the dosh, but not to live in it. You'd only have to sit on it for a few months and flip it to some rich sheikh who wants a place to meet his ladyfriends.
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Old 01-25-2007, 01:36 PM
 
Location: Phoenix metro
20,005 posts, read 69,439,584 times
Reputation: 10115
That doesnt surprise me. London has always ranked as one of the most expensive cities to live in. But that place just takes the cake! LOLOLOL

Reminds me, last time I was downtown Chicago, they are selling some one bedroom condos for 550K! What?!?!?! I know theyre ALOT bigger than the one from London and all, but cmon!!! 550 grand for a one bedroom? That place had better be made out of solid gold! LMBO!
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