The threat of mansion tax may be dampening the prices in London and making Myleene Klass feel like she can't brew coffee in her own home, but it doesn't appear to be having much of an impact in Dorset.
An empty piece of land on the county's narrow Sandbanks peninsula has gone on sale for £6.25m. If it goes for the asking price, the 89ft by 59ft plot will come in at £1,161 per sq ft, making it one of the most expensive pieces of land in the country.
The land is in one of the UK's most desirable areas – in fact, Sandbanks is said to be the fourth most expensive place in the world after London, Manhattan and New York. A property on the same road sold last year for £5m, equivalent to £1,250 per sq ft.
The owner of this latest plot initially bought the land – which at the time was home to two properties - for around £2m less than it is currently on the market. He knocked the houses down and has secured planning permission for two four-bed houses, of 4,370 sq ft and 4,023 st ft, both with their own gym and swimming pool.
Adrian Dunford, of Tailor Made estate agents, which is selling the empty plot, told City A.M: "Sandbanks as an address is quite a small area, and there are only 30 detached houses on the beach... so it's a case of supply and demand.
"The general feeling among those who are wealthier is that beachside properties are always good investments because there is a set number - you can't go and create another few thousand coastal homes - it's finite."
Although he acknowledged the price tag would exclude the vast majority of people, Dunford said the top "one or two per cent" still added up to more than enough people willing and able to part with cash for such an exclusive residence.
The buyer would most likely be British and looking for a second home or a place to retire in, he added.