Evan one of London’s poshest postcodes is experiencing falling values in terms of property prices.
And the latest well-heeled celebrity who has had to drop an asking price is chef Nigella Lawson.
Miss Lawson and husband Charles Saatchi have had to drop the price of their bourgeois Belgravia pad, knocking a whopping £11m off in a bid to secure a buyer.
The London home was originally pitched at £36m when it was first listed for sale in October 2010, but the society couple have had to rethink the selling price somewhat.
Thankfully the move has meant a sale, and the pair have still netted a profit of £21m.
An 18th century former factory in Chelsea, which cost £12m, is to be the new home for the Saatchis and their brood. And it has been reported they have already spent £100,000 moving their priceless art collection.
Chez Saatchi has seven bedrooms, a wine cellar, a gym and an underground swimming pool and Nigella has spent £500,000 renovating the kitchen so that it can double as a television studio for her cookery programmes.
And the new inhabitant at the Belgravia flat is reported to be property tycoon Christian Candy.