London mansion owners turn to Airbnb as buyers turn up noses

London

FRUSTRATED after searching for a buyer for two years, the owner of a luxury apartment overlooking London's Hyde Park decided to rent it out for £1,500 (S$2,631) a night.

"It was a very lofty valuation and I think they've always been chasing the market," said Hasan Hasan, the co-founder of property broker Xenyos, which is handling the rental. Now the landlord, a developer trying to sell the property at a reduced price of £8.65 million after a refurbishment, will at least recover some of his investment while he waits for a buyer, he said.