The super-rich are snapping up apartments at the world's most expensive residential scheme at London’s One Hyde Park as if they were going out of fashion. Sunday Times.
Half of the 80 apartments at the luxury scheme designed by Richard Rogers have already been contracted to be sold – even though the project will not be completed until 2010. Knight Frank, one of the estate agents handling the Knightsbridge development, said sales already totalled more than £500m and the average apartment price had reached £20m.
Wealthy oil barons, Russian oligarchs and hedge-fund managers are shelling out at prices that break down to almost £6,000 per square foot for the chance to own one of the apartments. That figure is up from £4,000 per square foot in late 2006.