Panayiotis
I know you are just another estate agent desperate to make a sale in this dying market, but get your facts straight please, before you post.
You can in fact buy a mansion in Beverly Hills for 2.5 million USD quite easily. If you go to realtor.com you can have a look for yourself, but here is a small sample :
http://www.realtor.com/search/searchres ... 47ff5&pg=4
I don't have the link concerning Spamela's house, but I will try to find it for you. I lived in the states for a long time, not far from BH and so I know the market very well.
Now to educate you :
Terraced house prices in London depend greatly on the area. In the better parts, such as St John's Wood, a terraced house may well sell for over a million GBP, even 2 million or more. In areas such as Richmond, Twickenham and Teddington, you can get a nice 3-4 bedroom terraced for well under a million. In Enfield East e.g Ponders End and Enfield Wash, you can pick up a nice sized terrace for well under 220k sterling, and prices are now falling fast.
Also, in case you, pan the property expert, have not noticed, the UK, USA, Spain, Ireland and many other countries are experienceing horrific property crashes right now, and this is on it's way over to us here in Cyprus. In the UK prices have fallen over 2.4% PER MONTH the last two months, according to Nationwide and Halifax, the UK's two biggest lenders. This is 30% annualized, and selling prices are already lower than they were in 2006. What do you think about this ? Or is Cyprus immune to such global economic factors like the ongoing credit and derivatives squeeze, peak oil and the shifting of wealth from western industrialized nations to the manufacturing powerhouses of the east ? While we are at it, and as you obviously seem to know everything, why not give us your opinions on fiat currencies, fractional reserve banking and the debt money system, all of which are contributors to the massive global house price bubble we have seen over the last 5-7 years ?
I am very interested to hear your views on all the above, as you are obviously educated and articulate and I am sure you could provide us with some illuminating insights.
Or are you another English Cyp Chav who left school without anything between his ears and so decided to jump on the property bandwagon when the going was good ? Mate, stick to drinking beer and watching football, and leave the real investing for those who are educated for it.
If I were you I would change my job. Times are going to get very hard very soon for those guys selling overpriced and overhyped property to people who cannot usually afford it. That means YOU.