become a millionaire property

The recovery of London’s prime property. Is exclusivity back?

Prime property locations seem to be making a slow, but steady comeback into the world of selling and buying, with more and more exclusive and very expensive homes being developed and sold for astronomical amounts. As prime London property prices for these UK establishments go up, so do the rent for pristine penthouses and marvellous mansions escalate.

Two such examples of new prime property developments for rent are two Mayfair penthouses. These luxurious apartments are located in the heart of Mayfair and hold some of the most prestigious views in the area. Consisting of four bedrooms and the ultimate in lavish living design, they hope to be rented out for a staggering £25,000 a week. Yes, that is £25,000 a week, not a month. These two penthouses are fit for a king or queen and will satisfy anyone that expects only the best from such an exorbitant price.

£25,000 might seem to be pushing the envelope for many, but there have been a number of higher rentals in previous years. Properties around London have been rented out for £36,000 and even £40,000 per week before the recession hit. Lush lettings are not the only property sector that is seeing a boom in prime locations. Earlier this year, London’s most expensive home was eventually sold for a monumental 50 million. This home is not the most expensive prime property for sale that London has seen, but was the biggest buy of 2009.

London is not the only area who is seeing a rise in prime property prices and exclusive rentals. Places such as Switzerland, Monaco and the South of France are also seeing a positive upturn in the selling and renting of elite properties. Many will be surprised to know that the buying of these prime central properties is not only conducted by international investors, but also by the London elite. Even though the number of international investors remains high, Londoners are taking part in the property game and purchasing homes that sit in the highest price bracket.

These various prime properties are just a taste of what’s to come for the future of millionaire’s homes for sale as well as extremely high monthly rentals. The offer of prime property will continue to increase and this will result in new interest in millionaire properties that will be available.

About the Author

Lauren Potgieter wrote this article for Douglas and Gordon estate agents

How many millionaires are there in the U. S. from winning the lottery, contests or game shows?

There are an estimated 8.9 million millionaire households across the country, as reported by TNS Financial Services and CNN Money. That’s about 7% of the population. Most of them have investment strategies in common. Nearly 19% of them own part or all of a business or professional practice, 46% own investment property, 70% own stocks and bonds, and 68% own mutual funds. I want to know how many of them became millionaires by luck or chance only.

I saw the stat on this one time. It was 1,878. Would have been more but so many of them go on spending sprees when they get the money they end up broke like when they started.

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