An astronomical rise in property values across London has seen tiny living spaces fetch huge price tags. A basement residence in London's Chelsea neighbourhood measuring 6 feet by 12 feet recently went on the market at a price of AU$851,050 - almost $12,000 per square foot, a record breaking price for a tiny room that had been used for janitorial storage for nearly 20 years.
Another prison cell-sized apartment without electricity on sale for $431,731 has been compared by Andrew Scott, the agent handling the sale, to a small compartment of a ship. Having already received three offers on the property, he added that its size is in the eye of the beholder. "If you thought of this as the cabin on a boat, you'd say it's pretty spacious,"Scott said.
