It’s one of the priciest streets in England with some of the most sought after properties in the country. But behind the doors of many of the mansions on The Bishops Avenue in north London (“Billionaires’ Row”), there is little in the way of opulence or luxury. It is estimated that a third of the homes, worth an estimated $582 million, are in a state of disrepair after lying vacant for decades.
Despite their poor condition, the houses remain a safe place for the wealthy to invest their money because of London’s rocketing property values, which rose 11% last year, and because of the road’s reputation as a hotspot for the rich and famous.
Of the homes that are occupied, even those are used infrequently by their owners for short periods each year, with residents complaining that there is little in the way of a ‘community.’
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