Despite the global economic collapse, a luxury terrace house in Belgravia has gone on sale for a record £100 million (approx. US $150 million). The price beats the current record London house price of £80 million, which was paid last year by Ukrainian philanthropist Elena Franchuk for a property in Upper Phillimore Gardens, Kensington. The six-story property in Belgravia, central London, has 20-foot ceilings, luxurious fixtures and more than 21,000 square feet of living space. Along with Candy Spelling’s Holmby Hills mansion, this white-stucco-fronted house at No. 10 Belgrave Square, owned by Lebanese developer Musa Salem, is now the most expensive home on the market in the world. Mr. Salem bought this property many years back on a long lease from the Grosvenor Estate, with a condition to restore the house to full Victorian glory. The lavish amenities include an indoor swimming pool in the basement, a gym, a home theater, a garage room, a news house and much more.

One agent who has been inside the home said…

It’s in really wonderful condition. The design shows Middle Eastern influences and has plenty of marble and decorative features, but all done with taste and to a standard you seldom see.

Stuart Bailey, partner of Knight Frank’s Belgravia office, said…

The buyer will be expecting the best of the best, something that is not achievable in other properties in London.

But, property expert Charles McDowell said…

To ask £100 million for such a house now and expect it to be paid is ridiculous.

Furthermore, an anonymous agent said…

Anyone hoping for this price tag in 2009 is living on Mars.

Economic downturn? Housing crisis? There seems to be nothing at all if we consider the whopping asking price of $150 million for the No. 10 Belgrave Square. But do you think someone will actually pay such a huge amount in these tough times?

Via: ThisisLondon/TimesOnline440189