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A pair have angered property seekers on the internet by putting their house up for sale nearly £2 million above the typical selling price in their neighborhood.
Residents expressed 'shock' and 'amazement' when a seemingly normal house in Hove, East Sussex, was listed for an astonishing £2.5 million.
The listed price for the well-maintained home has raised concerns among possible buyers, who have stated it is 'too expensive.'
They argue that while the red-brick house is located in a desirable coastal area, it actually faces a complex of tall apartment buildings and is situated on a busy road that has a highcrime rate.
The couple, both in their late 80s, purchased the home in East Sussex in 2010 for £750,000 but are now listing it for over three times that price.
According to property experts Purple Bricks, the typical price of a home on the street where the couple plans to sell is £600k.
A local resident said to MailOnline: "I'm amazed. It's unbelievable how much property values have increased over the past 15 years, but I never thought a home would be listed for such an exorbitant amount - it's like a king's fortune."
It's truly astonishing. I realize it's located in a sought-after area, but this street is constantly busy, and the backyard overlooks the apartments — not exactly an appealing view.
The residence is located only 100 yards away from the rocky shore.
The older couple is believed to be selling it in order to move to a smaller place away from the seaside.
Hove is a prestigious and sought-after area to reside, with the typical cost of a standalone home reaching £846,600.
Neighbor Barbara Crafts said, "They are a wonderful couple but they're getting older."
Even though the house features just three bedrooms, it is surprisingly spacious, with each bedroom being very large and including walk-in closets.
Mrs. Crafts, who is in her 70s and resides in a large three-bedroom apartment on the street, stated: "Although it appears quite normal from the outside, it is a beautiful home that is very roomy, and they have invested some money in renovating it."
I've been living here for approximately eight years, and my children, who reside in the north, constantly encourage me to sell. They say I could purchase an excellent home near them for a small portion of the cost.
The residence, featuring a driveway and a garage, also includes a study, dining area, living room, four bathrooms, and a loft that serves as a games and media room.
Rachel Dent, a mother of two residing in a two-bedroom apartment on the street, remarked: "That's a significant amount of money, but that house is like a TARDIS — it's absolutely enormous inside. There's 250 square meters of living space, which is massive."
It is misleading because, from the outside, it appears to be any street in Britain, but it dates back a long way and is truly vast. Although it may not impress from the outside, the interior tells a different tale.
Audience reviewing the online schedule wondered how the 'modest' house could fetch such a high cost.
One commented: "Flats with a view of the rear would immediately be a deal-breaker for me, even if they were very affordable. Nearly half of the house is the main bedroom. It feels excessive."
Another remarked: "£2.5 million is outrageous for this. It can't possibly be even remotely worth that. Even at half the price, it would still be a lot, wouldn't it?"
A different viewer commented: "How much? And why does the primary bedroom have two walk-in closets and such a massive bathroom?! They could have converted one of the walk-in closets into a guest room instead."
Another person said: "Way too much. The front of the property faces west, while the back faces east. The front overlooks a row of guest houses/hotels, including a terrible 60's-style 5-story guest house directly across."
Backs onto an 11-story apartment building. Therefore, there is no privacy and no morning or evening sunlight.
It's a high asking price, but not the most extreme in recent history.
Last year, a Russian billionaire attempting to sell a London 'council house' for £3.5 million was compelled to admit failure and take a significant reversal.
The unremarkable four-bedroom home in the suburbs drew lots of ridicule because of its extremely high asking price when it was put up for sale last year.
However, owner Lukov Nikolov refused to comply, arguing that the fee was reasonable since he invested £1.4 million in renovating the property.
When MailOnline visited the property, over a year after it was listed for sale, neighbors disclosed that the affluent entrepreneur had been compelled to 'move in personally' due to an inability to secure a buyer.
The residence was constructed in the late 1950s and served police officers who were moving to work inLondon for the Met Police.
However, in all other aspects, it is similar to the adjacent council housing in terms of design and dimensions.
Although he couldn't locate buyers with sufficient funds, Mr Nikolov subsequently put up another house on the same street for £3 million.
A resident said to MailOnline: 'He also owns another one nearby, which has been available for sale for some time.
The [second property] is enormous. It includes a basement, a home theater, and everything else. They might have doubled the square footage.
I believe he likely switches between them.
Mr. Nikolov purchased the initial property for £1.2 million in 2015 and started renovating its interior.
He managed to excavate and build a larger basement that is "filled with natural light," thereby expanding the property's square footage by one-third.
The house now misleadingly covers 3650 square feet of internal area and includes four levels along with its very own movie theater, which, inthe viewMr. Nikolov justified the £2.3 million rise in value.
Mr. Nikolov's second property was purchased at a lower price of £878,000 prior to also undergoing renovations.
In recent years, properties in Canonbury have been sold at an average price of £934,290, as reported by RightMove, with most transactions involving flats that had an average selling price of £633,512.
Terraced homes were sold at an average price of £1,659,972, while semi-detached houses reached £3,873,333 - meaning Mr Nikolov's property is somewhat below the typical rate.
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