There are a lot of studio apartments in England that are not very big but super appealing. There is one that, not surprisingly, the prices is sky high.
According to Domain, there is a little studio apartment situated in London's exclusive Knightsbridge neighborhood that has been listed for £1.175 million ($2.4 million). A pretty big price tag for a 47-sq. m. residential unit that is looks smaller than a passenger car of a London train. However since it is located in Egerton Gardens opposite Egerton Crescent, the price for such a tiny living space is explainable.
According to the Daily Mail, Egerton Gardens in Knightsbridge is a high-class London street considered to be among the priciest locations in the world. The little apartment has a main studio area that contains the reception room and the kitchen. While there is a separate shower and toilet, the bedroom or rather the sleeping area is in a mezzanine that contains double bed. All that for a whopping price beyond £1 million.
The apartment was listed in the market this week with W.A Ellis, an real estate agency in Knightsbridge. It currently is the most expensive flat on sale at £25,000 ($52,000) per square meter. Its value is more than twice the median-priced home in London. If you think it's the most expensive in the area, its price is only one-eighth the price of a home in Egerton Crescent. On top of the asking price, whoever buys that property would have to pay an extra £150 ground rent and £1,700 annual service charge.
According to Daily Mail, Simon Godson, director at W.A.Ellis, said, "The position of a property can really add to its value." He added, "The position of this Egerton Gardens property, south facing over the stunning crescent, really adds to its appeal and there are people who would rather be in a grand studio than a one bed flat that doesn't have such an exceptional outlook."
