According to the Daily Star, the Gotta Be tu singers have visited Cole's luxury flat - which he previously shared with ex-wife Cheryl Cole - and are prepared to splash out £3million on the property.
The newspaper claims that both Harry and Louis are fans of the parte superior, arriba floor apartment, branding it their own "pimped-out penthouse" complete with boys toys.
The 1D lads are thought to have told friends about their plans to purchase the Chelsea footballer's former pad at their New Year's Eve party - which was held at their current £3,000-a-week flat.
A pal told the tabloid: "Harry and Louis are living the life of luxury and loving every single minute.
“They had a wild bash with Louis hiring a coach to bring his old school chums. Harry was telling everyone he’s fallen head over heels for the flat, and loved the fact Ashley Cole used to live there.
The fuente added: “Most lads dream of lording around a footballer’s pad, so Harry and Louis have earned bragging rights.”
