Seven sq metre London microflat sold in auction for GBP 90,000
Auction
Property prices may be skyrocketing in London and owning a home may remain a dream for many but this latest development is sure to amuse (and scare) many.
A 7 square metre 'microflat' in London has been sold for 90,000 pounds.
The flat is in east London. In Victorian conversion in Lower Clapton to be precise. It is being speculated that this is London's smallest property.
The microflat can be compared to a stuffy room. It has a bed, toilet, shower, sink and a microwave. The cabinet for the microwave is located under the bed. It has been described on social media to be a "posh cell".
Funny thing is, when the microflat was put up for auction, the asking price was 50,000 pounds. The auction saw the price shoot up before settling at 90,000 pounds. The microflat was sold by the auction house My Auction.
The flat was bought by the previous owner for GBP 103,500 in May 2017 and wasrented out for800 pounds per month.
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As per report in The Guardian, the current tenant of the property lives elsewhere and visits the microflat a couple days in a week for work.