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Old 01-22-2007, 05:57 PM
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Jay GW Jay GW is offline
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Buy this 77 square foot apartment for $335,000

LONDON (AP) -- A prison cell-sized apartment without electricity is on sale for 170,000 pounds ($335,000) _ another sign that London's property market is booming despite rising costs and stagnant salaries.

Anywhere else this dilapidated studio might not have attracted such price. But this is London, where a 77 foot-square former storage room is being marketed as an investment property in the exclusive Knightsbridge neighborhood.

"It's about the size of a ship's galley," said Andrew Scott, the director of Lane Fox, the agency handling the sale. "But it's permanently anchored to one of the wealthiest neighborhoods in the world."

At more than 2,200 pounds ($4,340) a square foot, the mortgage buys a spot within walking distance of tony stores like Harrods and London's iconic Hyde Park. Originally conceived as a maid's room, the apartment at 18 Cadogan Place hasn't been used for years and is littered with trash bags and crumbling paint.

http://www.breitbart.com/news/2007/01/22/D8MQGPLG2.html
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Old 01-22-2007, 06:19 PM
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i'd buy it if i could, it'd be my getaway closet.
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Old 01-22-2007, 08:21 PM
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Insanity.
Fortunately all the big investors in high-end property are either Russian or from the Gulf States, when it crashes it will mainly be foreigners who suffer...

How the poor people will laugh...
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Old 01-22-2007, 08:37 PM
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wow what a waste...... move out of downtown
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