The house that British people hate most to live in, which has been for sale for 14 years in the UK, has been introduced.
On the 22nd (local time), British Metro introduced a neat two-story house in Enfield Town, north London. This house has been on sale for 5146 days (about 14 years and 1 month) at an asking price of £339,995 (about 540 million won), despite its comfortable living environment with various settlement requirements.
Reportedly, the two-story house is located on the outskirts of London, but has good transport links to central London. In addition, the train station and shopping center are within walking distance, so it can be a good opportunity to catch both the dream of owning a home and investment.
It seems to be a house in perfect conditions from the outside, but this house has been on the market since 2009. At the time, the price was 1 million pounds (about 1.6 billion won), but now 14 years later, 1.1 billion is missing.
As for the reason British people do not consider this house, Metro analyzed that it is because it is a Leasehold house. British houses are divided into leasehold and freehold. A lease is to lease only a building for a certain period of time (usually 99 years), and a freehold is to own a building and land permanently, which is the same as the sale method in Korea.
However, since this perfect home is a leasehold home, you can only own the building. According to the article, the recent lease on the house was extended by 125 years on September 29, 2004, making it the buyer’s property for the next 106 years. However, extending the lease requires additional costs and may cause conflicts with the owner of the fight.
Also, some banks do not allow loans on leased homes with less than 80 years left on the lease, which can cause problems with mortgages.
Metro also cited the high price compared to properties with similar conditions as the reason for its unpopularity.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.