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London Shard homes create record price gap

The sale of ten apartments in London’s Shard skyscraper this summer will break two records: they will be Europe’s highest homes and will also create the world’s most unequal neighbourhood for house prices, new research has shown.

The apartments are spread over 13 floors in the 1,017 feet-tall Renzo Piano-designed glass spire that has become the most dramatic addition to the capital’s rapidly changing skyline.

The flats will likely sell for between 30 and 50 million pounds ($57 and $80 million) each and could attract buyers from Russia, the Middle East and Hong Kong.

This puts them in the same price bracket as One Hyde Park in the upmarket Knightsbridge area, Europe’s priciest homes to date. The one-billion pound development with Candy and Candy-designed interiors is located near the Harrods department store.

At around 520 pounds per square foot, the average price in the SE1 postcode surrounding the 95-storey Shard is less than a tenth of the 5,000 to 6,000 pounds per square foot the new apartments are expected to fetch.



Wealthy Use Auctions to Sell Mansions - Bloomberg