The city of London has always been a favorite with wealthy Europeans and over the years calling the city their new home and driving up demand for premium housing are billionaire Russian oligarichs, Middle Eastern royals and wealthy Chinese. One such sought after neighborhood for the uber-rich is Kensington where a garage near the famous Royal Albert Hall is up on sale for a staggering £400,000 ($670,000) which is 2.5 times the cost of an average home in UK and 15 times of £26,500. which is the average salary of a Brit.
Apart from securing their Rolls Royce Phantoms, premium parking spots also offer handsome returns as an identical parking spot in the same car park was for £275,000 just 10 months back which a staggering rise of £125,000 or 31% in less than a year. At this rate garages will be flirting with the million pound mark in a year or two.
[Via – Worldcarfans]