Mega-rich build 1,000 gyms, 460 cinemas and 380 swimming pools underneath their London homes in just 10 years
In the past decade, 4,650 basement conversions have been approved in London
LONDON'S super rich residents have been extending their homes beneath ground, making space for swimming pools, wine cellars and gyms.
Research by Newcastle University found that in the last decade alone, 4,650 basement conversions have been approved.
"Iceberg homes" - named because they extend up to 18m deep under ground - are becoming popular in some of the richest areas in London.
At least 67 of them can be found in Kensington and Chelsea, while another 34 are underneath homes in Westminster.
Many of them are being turned into lavish luxuries, like an artificial beach, car museums, Turkish baths and even cigar rooms.
Between 2008 and 2017, 1,000 basements were turned into gyms, 380 into pools, 460 cinemas, 380 wine stores and 120 of them were even turned into staff rooms.
All together, the basements have a total of about 550 cinema rooms, 340 games rooms, 240 saunas or steam rooms and 60 underground garages.
Two of the basement conversions even had more than one swimming pool in them.
The research found that 785 of them were considered to be "large", spreading across at least two storeys, or one level that extends beyond the house and under the garden.
Another 112 of them were "mega basements" which meant they were at least three storeys deep or two levels that stretched under the garden.
The report - - also aims to highlight the "environmental concerns " about extending so far under ground.
Researchers defined the basements as a new wealth status among the uber-rich - which only highlights the wealth gap at a times when "so many households face a crisis in their housing circumstances".
Last year, we reported how a two-bedroom London flat that is as wide as a tube carriage went on the market for £36,000.
A basement conversion and roof extension helped transform the former courier depot.
For many, living in a house with a basement is out of our price range - but you could become the owner of a £1million house over night with a cheap competition ticket.
LATEST ON HOUSE PRICES
Raffling off property is more common than you might think, especially as stagnating house prices mean that some homeowners are struggling to sell.
Marie Segar, 50, won an £845,000 country mansion after spending £2 in the raffle for it. She never moved in but rents it out for £1,500 a month instead.
There's another house for sale via a competition and it's worth £2.3million - and it costs just £10.50 to enter.
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