Belgravia is one of the most renowned areas of London, known for its luxurious properties and affluent residents. But is Belgravia really a rich area of London? Let’s dive in and explore.
The History of Belgravia
Belgravia is located in the heart of London’s Westminster, just a stone’s throw away from Buckingham Palace. It was developed in the early 19th century by Thomas Cubitt, a renowned architect who was commissioned by Richard Grosvenor, the 2nd Marquess of Westminster.
The area was named after the Grosvenor family’s estate in Belgrave, Cheshire. Cubitt designed the area to be a high-end residential district, with grand terraced houses and garden squares.
The Property Prices in Belgravia
Today, Belgravia is one of London’s most expensive areas to live. The average property price in Belgravia is around £4 million ($5.5 million), with some properties fetching up to £100 million ($137 million).
Many of these properties are owned by high-net-worth individuals from around the world and are often used as second homes or investment properties.
Why is Belgravia so Expensive?
There are several factors that contribute to the high property prices in Belgravia:
- Location: Belgravia is located in one of the most desirable areas of London, with easy access to some of the city’s best amenities.
- Architecture: The grand terraced houses that make up much of Belgravia were designed by one of London’s most renowned architects and are considered some of the finest examples of Georgian architecture.
- Exclusivity: With its high property prices and affluent residents, Belgravia has become synonymous with luxury living.
The Residents of Belgravia
Belgravia is home to some of the world’s wealthiest individuals, including celebrities, business leaders, and royalty. Some of its most famous residents have included former Prime Minister Margaret Thatcher, fashion designer Valentino Garavani, and actor Eddie Redmayne.
With its exclusive reputation and luxurious properties, it’s no surprise that Belgravia has become a sought-after location for the ultra-wealthy.
Conclusion
In conclusion, Belgravia is indeed one of London’s richest areas. Its prime location, stunning architecture, and exclusive reputation have all contributed to its high property prices and affluent residents. Whether you’re looking to make an investment or simply want to experience luxury living in London, Belgravia could be the perfect place for you.