Chelsea property prices in late 2022 and the start of 2023?

Chelsea, London, is known for having some of the most expensive real estates in the world, and the last 6 months were no exception. In this article, we will take a closer look at some of the most notable property sales in London during that period.

Terraced Houses

The period saw several terraced houses sold, with prices ranging from £3.6 million to £12.2 million. The most expensive of these was a property located at Harley Gardens. This was a freehold property that sold for £12.2 million. The property had 4 bedrooms and a floor area of 2,491 sqft, which translated to £4,898 per square foot.

The second most expensive terraced house sold during this period was located at Carlyle Square. The property was a freehold, semi-detached house that sold for £9 million. The property had a floor area of 3,122 sqft, which translated to £2,883 per square foot.

Another notable sale was a terraced house located at Elm Park Lane. This freehold property sold for £1.45 million and had a floor area of 797 sqft, which translated to £1,819 per square foot.

Flats

There were also several flats sold during this period, with prices ranging from £430,000 to £6.05 million. The most expensive flat sold during this period was located at South Terrace, SW7. The property was a new-build flat that sold for £6.05 million. The flat had a floor area of 3,531 sqft, which translated to £1,713 per square foot.

The second most expensive flat sold during this period was located at Onslow Square, SW7. The property was a leasehold property that sold for £5.5 million. The flat had a floor area of 3,638 sqft, which translated to £1,512 per square foot.

Another notable sale was a flat located at Coleherne Court, Redcliffe Gardens, SW5. The property was a leasehold flat that sold for £2.53 million. The flat had a floor area of 1,970 sqft, which translated to £1,285 per square foot.

Leasehold vs Freehold

It is interesting to note that all the flats sold during this period were leasehold, while all the terraced houses were freehold, except for one which was leasehold. Freehold properties tend to be more expensive than leasehold properties, as they offer the buyer more control and ownership over the property.

Conclusion

Chelsea property prices continue to be among the highest in the world, with several notable sales in the last months. Terraced houses and freehold properties continue to be more expensive than flats and leasehold properties.