Are Des Res Properties Worth This Price And Are They Likely To Go Up In Price

Category: Finance, Real Estate.

Recently des res was voted one of the nicest words in the english language.

In the property market estate agents, especially in the west end have a way of conjuring up a great word to describe a property without breaking the rules of the trade description act. There are many reason for this. Des res[ des rez] (plural des reses) means superior house: a house or flat that is considered, especially by an estate agent, as highly desirable and obviously the shortening of desirable residence. What are some of the most expensive des reses? well a Californian mansion that once belonged to publishing magnate Mr Randolph Hearst and featured in the film The Godfather sold for around$ US165 million( 83 million pounds) . Today newpapers often use the word to describe a broken down garage which sold for$ 50000 dollars i. e. garage des res for sale only$ 500, 00Some entrepreneurs in Stoke UK purchased an old water tower and against the odds turned it in to des res apartments, by all accounts they attracted some very good prices for their entrenpreneurship. It boasts three pools, a movie theatre, around 29 bedrooms, 7 kitchens, 31 bathrooms a disco and separate residence for the security staff. truly the most expensive mansion in the world.

Lovely des reses indeed! The asking price surpassed the$ US155 million( 75 million pounds) a 10- bedroom estate in Montana Big Sky country, and the$ US135 million( 79 million pounds) price of an Aspen, compound owned by, Colorado Saudi Prince Bandar bin Sultan, former ambassador to the United States. Are des res properties worth this price and are they likely to go up in price? Although they won' t be ready until 2009- 2010, there has been incredible interest, and several have already been sold off plan. Remarkably a flat( apartment in the USA) could surpass this. Clients for the flats, some who are bilionaires, are expected to include Arab princes and Russian oligarchs. Recently it was rumoured a flat had sold for$ 168 million dollars in London UK.

There seems to be plenty of money in oil! The flats start at$ 8 million. Those are the ones rumoured to be selling for$ 168 million. There are 4 penthouse flats in the complex. They will also have the street number/ address" 1 Hyde Park" - I' m pretty sure that alone massively added to the value of the price tag. One thing for sure such luxury des res properties have always gone up in price and will never cease to fascinate the public, with their grandness and opulance.

It would be interesting to see if they pay cash for such properties or get a 1000 year mortgage!