United Kingdom
After the Second World War, large townhouses/terraced house in British cities were often divided into flats or converted into offices. In the early 21st century this trend was reversed to some extent, partly because there is less demand for old houses as offices, since open-plan layouts are preferred, and partly because the number of very rich people in London has risen. In 2004, the Grosvenor Group sold two grand terraced houses in Belgrave Square that had been in office use, for reconversion to family houses. The asking price was £12 million each.
For marketing purposes British property developers and estate agents often call new city terraced houses "townhouses," because of the negative connotation of terraced housing. The aristocratic pedigree of terraced housing is widely forgotten.
Read more about this topic: Townhouse
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