£140m flat sale sets a new world record
News Category: Industry News
Published: 11-Aug-2010
The world's most expensive flat, in Hyde Park, London, is changing hands at a record-breaking £140m.
The mystery buyer – almost certainly someone from overseas – will have to fork out £5.6m in Stamp Duty alone on the purchase of the flat, part of a development by the Candy brothers.
The previous most expensive flat, also in London, sold in 2008 for a mere £115m.
News of the latest record comes with the news that the world's riichest people are back at pre-credit crunch levels. There are now 10 million people in the world worth more than $ 1m (£680,000).
In Britain, the number of people in this category rose 42% last year.
The new annual world wealth report, by Merrill Lynch and Cagemini, recorded a 17% rise in the number of high net-worth individuals in 2009, compared with 2008.
Ultra high net-worth individuals – those with more than $ 30m – enjoyed a 21% rise in their wealth, virtually reversing the 24% loss in 2008.
Just over half of the world’s richest people are in Japan, America and Germany.
Reassuringly, the rich are also spending again: sales of yachts are up 30% in the US, and sales of private jets are also taking off.
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