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A studio apartment the size of a parking space has gone on sale in London for more than five times the average U.K. house price. Estate agency Wetherell, which is marketing the property, describes it as the "perfect pied-a-terre for the international traveler." It is situated in London's upmarket Mayfair district in a purpose-built apartment block dating from 1928, and comes with 24-hour porterage.

At just 328 square feet (30.5 square meters), it is roughly one-third the size of the average U.K. home. The asking price is a hefty $1.53 million. The newly-refurbished property consists of a "studio room" with space for a double bed, plus a bathroom. The kitchen is smaller than an average prison cell, but on the plus side, the apartment is next to a Michelin-starred restaurant.

-- Antonia Matthews, CNBC