Friday, June 13, 2014

Count Yourself Lucky In Canada, This Box-Room Goes For $1340 in London, UK

Breathe in: Estate agents have marketed this £730-a-month Islington flat as 'modern' and 'fully contained'
Room with a stew: Tiny flat with bed in the kitchen is offered to rent for £730 ($1340 )-a-month in latest sign of crazy London property prices
  • £730 ($1340 )-a-month Islington flat has bed squeezed inches from hob and sink
  • Comes as prices in capital rise at fastest rate since records began in 1995
  • Agents have had interest but removed listing after receiving 'abusive calls'
No one hunting for a flat expects much for £730-a-month in central London.
And this is the proof.
With a bed squeezed into the five-square-foot kitchen - inches from the hob and sink - this shoebox 'studio' apartment is a snapshot of London's ballooning housing market.

The landlord has optimistically manoeuvred a table and chair into the remaining space of the flat in the affluent area of Islington, north London.
And the wardrobe blocks the door.
But in the first 24 hours, the estate agents Relocate Me have received a wave of interest from would-be tenants.
It is one of hundreds of flats soaring in price in the capital as experts continue to warn of an imminent housing bubble.
London house prices rose at their fastest rate last month since records began in 1995, to an average of £435,034.
Nearly 1,000 homes every month are now being sold for more than £1million.
Figures reveal that around 30 houses a day are changing hands for seven figure sums – up two-thirds on a year ago.

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