London real estate: A 40 square foot apartment for $280,000

London real estate: A 40 square foot apartment for $280,000

Credit: AP

London real estate: A 40 square foot apartment for $280,000

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by KREM.com

KMOV.com

Posted on October 9, 2012 at 8:28 AM

Updated Tuesday, Oct 9 at 8:31 AM

LONDON -- A new real estate trend has people talking across the pond -- tiny apartments.

A 10’x4’ flat in the heart of London is fetching huge offers from real estate investors.  The apartment is actually a converted bathroom and closet.

With no kitchen and barely any room for furniture, the little listing already got an offer well over its asking price.  The original asking price was $145,000.  The current top offer is believed to be around $280,000.

Realtors call the unit an interesting marketing opportunity.  With high ceilings, natural light and the apartment’s proximity to famed department store Harrod’s, they say it’s worth every penny.

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