Flat sells for £140m as Bank warns of 'dangerous' bubble

'Major overshoot in prices' could spell disaster as London penthouse sets new house-price record

One Hyde Park, London
(Image credit: CARL COURT/AFP/GettyImages)

AN INVESTOR from Eastern Europe has paid £140m – or £10,000 per square foot – for a penthouse flat near Hyde Park, setting a new record for house prices in Britain.

The buyer is "thought to be Russian or Ukrainian", reports The Times, which says the price tag "will be taken as a sign that increasing political rhetoric and taxation of foreign owners is failing to sate the demand of overseas investors".

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