Super-Rich Americans Are Buying Up London

A growing number of wealthy US nationals are buying boltholes in London as they seek to escape Donald Trump’s America.

Americans accounted for 11.6% of all overseas buyers in central London during the final three months of 2024, according to latest industry research as they surpassed their counterparts from China, who made up 8.1%.

Those buyers included the likes of US fashion designer Tom Ford, who spent around £80m on a mansion in Chelsea in November last year.

The rise in wealthy US buyers comes as Americans applying for UK citizenship recently hit a record high, according to the Home Office, with Donald Trump’s return to the White House thought to be a major factor behind the influx.

More than 6,100 people applied last year, the data show, with applications surging by 40pc year-on-year in the final three months of 2024 – the same period which saw Mr Trump re-elected to the White House.

Knight Frank said the strength of the US dollar may have also played a part, as buyers using the greenback enjoyed a 38% discount on properties in prime parts of London, compared with what they might have paid a decade ago.