Home LifeStyle  Luxury Homes €117 Million-Mansion Most Expensive in World

€117 Million-Mansion Most Expensive in World

Posted: May. 28th, 2008  |  By JustLuxe TeamThe Affluent Lifestyle Guide
RSS Syndicated News Email a Friend Suggest an Article Share Visit Website
Luxury Real Estate: The Bishops Avenue in Hampstead, dubbed "Billionaires' Avenue," is going to have to be renamed to "Multibillionaires' Avenue," if prices for homes keep brimming. The Sun recently reported that the latest development has Britain's richest individual, steel tycoon Lakshmi Mittal, ready to purchase a 14,000-plus-square-foot-estate in Kensington Palace Gardens, West London, for &euro117 million. Mittal, who also owns a 12-bedroom house on the private avenue, is denying that he is the buyer.

The highly coveted area, which is close to the center of the capital, is flanked by two golf courses and 1,000 acres of parkland. The 66 residences along the half-mile avenue are occupied by some of wealthiest people on the planet, making the area one of the most prestigious neighborhoods anywhere.

Home prices are continuing to rise, as the China Post reported that In early January billionaire Russian-Israeli Lev Leviev bought a villa on The Bishops Avenue for a then-record-setting &euro47 million ($68 million U.S.). Weeks later that high mark was shattered by a billionaire from Kazakhstan, Horelma Perama, who paid &euro50 million to buy the 28,000 square-foot "Toprak Mansion." The massive structure also features a 28-car garage.

London currently is a tax haven for foreigners who made their fortunes abroad. Most of the citizenry of "Billionaires' Avenue" are non-domiciled residents who receive substantial tax breaks. However, it may not be a good time to draw from a home-equity line of credit, as there is a new controversial proposal that would revise the advantageous tax status of non-domiciled residents if approved.

Glentree Estates is the real estate firm that facilitated most of the transactions occurring on The Bishops Avenue.

For LxM James Rothaar
Related Topics : Lifestyle News
Share on Facebook Share
See Next Article
Related Articles
Featured Contributor
Mila PantovichMila Pantovich
The Mary Tyler Moore Show ran for seven years in the 1970s, featuring the first unmarried,...
Read More | View Profile
The Best of Luxury
Event Calendar

the holiday gift guide 2013

DISCOVER THE LIST >
1

Sony DSC-QX100 Smartphone Attachable Lens

Sony basically packed all the usual camera inner workings within the lens... more >

2

Flask Bangle by Cynthia Rowley

For the life of the party this Cynthia Rowley flask bangle holds three ounces... more >

3

Carbon Fiber Ciclotte

Designed and crafted in Italy, Ciclotte's luxury exercise bike models... more >

Day

Keeping Up with JustLuxe
Like Us on FacebookFollow Us on TwitterRSS Feeds
Sign Up for Our Newsletter!
Current News & Features
Uber Goes Public With its First Self-Driving Car
Touch The Sky With This New Superyacht Concept
Sergey Petrossov's JetSmarter Takes Off
Rolls-Royce Designs Luggage Worthy of the Wraith
Accurate 3D Lunar Globe Brings Home the Dark Side of the Moon
Tate Modern's Expansion to Open June 17
Volvo Redefines the Luxury Sedan with S90 Lounge Console Concept
Falling in Love with Lillet
Louis XIII Teams Up With Hermès for One-of-a-Kind Collaboration
These are the Companies That Painstakingly Handmake Entire Yachts
See the complete list

Best of Luxury

Finding the best in luxury can be a daunting task, which is why we've taken it on for you.
View All Best of Luxury
LivingLuxe. Exclusive Deals and Luxury Brands. Learn More
JustLuxe Galleries presents Popular Photo Galleries
Meet Our Writers Become a Contributor
$15.9 Million MariSol Malibu Residence Boasts Dream Community
James Rothaar »
1 Hotel & Residences South Beach Spending $100M for LEED Certification
Annalisa Solari »
I Like! Borat Star Lists Hollywood Home Overlooking Nature Preserve
Tina Stewart »
See More Contributors
THINGS WE LIKE