Luxury Homes

Property Developers Defy Credit Crunch

Apartments in London are being sold like hot cakes for 100 Million pounds (more here)  UK property developers are making 250 million pounds in 18 months,  makes you wonder what credit crunch?

Two brother developers Candy and Candy recently sold two hotels located in fashionable Kensington London,they were sold for a cool 320 million pounds. The Kensington Palace and Kensington Park Hotels site were sold to a Middle East consortium. The brothers bought the hotels only 18 months ago for only 69 million pounds. The hotels would have housed 97 apartments with price tags of 10 million pounds each.

More on this story  Credit Crunch Not For The London Rich

Super Prime Real Estate Not Affected

It seem that the rich are immune to the effects of the credit crunch and so is super prime real estate. Central London luxury homes do not seem to be showing signs of strain of the gloom of the current economic markets.

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Tags: , apartments, Buy, credit crunch, development, homes, investment, london, luxury, property