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Studio Flat (Cash Only)

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Story in the Mail.... Studio Flat

No one willing to lend on studio Flat,original price £95,000,sold for £32,000.

Maybe they should turn it back into a broom cupboard.

BS

I would consider paying 32k for a 215sq ft studio flat in central London. Anywhere else, that's just crazy.

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I would consider paying 32k for a 215sq ft studio flat in central London. Anywhere else, that's just crazy.

Me too, but just goes to show what happens to pwoperdee prices when there is no finance.

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It is increasingly feeling like the crash is really on.

It does look like the media might influence economic reality quite substantially, certainly delaying the inevitable onset of gravity in any case.

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The subliminal message being 'borrow and spend more' on a 2bed.

In fact, she would appear to have got back far more than she paid for it in '97 (£60k for both flats) plus she's had a yield for 10 years and sold her main flat and broom cupboard for > £230k.

I'm struggling to see what she's grouching about.

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Love the "long face" of the woman in the article - so, she bought two flats in the same block for a total of £60k and sold them both for £234k combined, one for £202k and one for £32k. Yes, I'd be really gutted too. :rolleyes:

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I would consider paying 32k for a 215sq ft studio flat in central London. Anywhere else, that's just crazy.

OK, that is 20sqm for £32k or £1600 per sqm versus the build cost of £1000 per sqm (the lease things are just liability)

But people in Tokyo are paying $20 or so to stay in these a night.

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very small places in prime working areas [e.g. the city of london] have considerable value as weektime pieds-à-terre or convenient living spaces for singles who work long hours but other than that... yeah, for an absolute bottom feeder abode such as this anything over 2-3 times a low to middling local income would start to feel a bit silly...

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OK, that is 20sqm for £32k or £1600 per sqm versus the build cost of £1000 per sqm (the lease things are just liability)

But people in Tokyo are paying $20 or so to stay in these a night.

I did not say that I'd pay 32k for one of these in Tokyo. If rooms are available in central London for $20 then I'd recalculate. As I see it, £60 gets you a shitty tiny one bed room with dust and crap all over it for one night in the great smoke.

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No problem, keep renting it out, its already paid for itself. If you dont want it give it away... IMHO its an invented story, you could even rent it out as a holiday let and make a better return, its not worth selling a seafront flat for 32k (even if it is only 4m by 5m). Perfect for a dirty weekend away, she would have the place rented out most of the year.

Edited by AteMoose

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Love the "long face" of the woman in the article - so, she bought two flats in the same block for a total of £60k and sold them both for £234k combined, one for £202k and one for £32k. Yes, I'd be really gutted too. :rolleyes:

If the article was about one of the current flat owners trying to sell with massive negative equity I could understand it but am also completely puzzled as to why she's moaning about the thousands of pounds of profit merely be dint of buying at the right time, miserable cow! Someone should leave a comment...

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Love the "long face" of the woman in the article - so, she bought two flats in the same block for a total of £60k and sold them both for £234k combined, one for £202k and one for £32k. Yes, I'd be really gutted too. :rolleyes:

I agree, what a sour looking cow. I struggle to see the point of this article other than to just add further proof to how effing stupid house prices have got. £90K for a studio flat?! No wonder we are in such a mess economically, with a 10% deposit and 3.5x salary the indiviudal (surely one can only have an individual in a studio) would have to be earning ~£23K which whilst is modest in the grand scheme of things but alot for only gettiing a studio flat.

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I don't know why she sold it for £32k.

Presumably she could rent it out?

Even for £250 pcm would give a roughly 10% yield.

She already got about £200k for the main flat - she could and should have kept this place and done quite well out of it.

Perhaps though, we don't know the full details - maybe she is just stupid. Mew'd to the hilt and needs to get rid of the £60k mortage on her £32k bedsit before she can move to her cottage in Oxfordshire.

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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