One Hyde Park - The land of luxury or a ghost town?

Interesting article in today’s Daily Telegraph highlights the ubër luxury apartment blocks at One Hyde Park. The properties have been subject of much media attention over the recent months, partly it may be to assist the in the marketing/sales and partly because the extraordinary scales at which the sales are being conducted warrants some attention. I suspect its a chunk of both elements that keeps the focus on OHP in the media. I suspect a very smart P company is also pushing the buttons in various media sects.

So, what does this article say?
Well much of what we already know. That the Russian money – of whichever extraction – the Arab, Indian and Chinese now, are taking out the no doubt very long leases and keeping a firm (or firms) of conveyancers and a few estate agents very busy (and very happy).

The article also highlights the fact that the Candy boys have been responsible for injecting much energy into the luxury end of the property market. During the midst of a recession it is probably the only end of the property market that one can imagine actually responding to an injection of anything. The references made with regards to the London being a newly favoured tax haven may need the views of a tax accountant/expert to quantify the credibility of the assertion. This humble scribe is limited with regards to the ways and wonders of the joys of tax matters!

All said it is another interesting piece on an an interesting piece of property.

http://www.telegraph.co.uk/finance/personalfinance/8604540/Household-spending-power-suffers-biggest-drop-in-34-years.html