fbpx

Wealthy Overseas Buyers Swoop on UK’s Super-Prime Market

24.03.21

New figures suggest super-wealthy buyers from around the world are positioning themselves in preparation for UK travel restrictions to be lifted.

Knight Frank has reported a 109% annual leap in the number of new prospective purchasers registering above the £10m mark in the year to January.

That’s the highest such rise in more than ten years, said the agency, attributing the heightened demand to a combination of the successful vaccine roll-out – and the confidence boost provided by the decisive general election result back in December 2019.

At the same time, the number of viewings has tumbled by 36% due to the pandemic, the steepest such decline in a decade.

Overseas buyers have accounted for between two-thirds and three-quarters of super-prime sales in recent years, noted the firm.

2020 saw 93 deals above £10m in London, compared to 99 in 2019 (although the tally could still rise as more data comes in). The total spend in this range was £1.62 billion in 2020, down 12% from £1.85 billion in the previous year.

Super-prime prices held steady in 2020, according to the report, recording an average of £3,182 psf compared to £3,204 psf in 2019; following a well-documented trend, houses accounted for 63% of sales compared to 57% in 2019.

The firm flags up the rising pound, and the 2% stamp duty surcharge due in April, as key considerations for overseas buyers in the months ahead – although the flat performance of prices in PCL in recent months is expected to limit disruption from the latter.

Abode Affiliates

  • Alleyne Real Estate
  • Blevins Franks
  • Coldwell Banker
  • Crane Resorts
  • Monaco Real Estates
  • RDO
  • St Francis Links
  • Unique Home Stays
  • Yoo
  • Worldwide Dream Villas
  • Enigma Yachts Limited
  • Cornerstone Tax Advisors
  • Pedini London
  • Alexander James
  • Moore Stephen
  • Ibiza Transit Express
  • Oyster Yachts
  • Jumeirah
  • Wall Street Luxury
  • Heron Real Estate
  • Edenhurst
  • MG&AG
  • Gama Property
  • Touch Design Group
  • St Edward
  • Ultra Villa
  • Luxury Italian Living
  • Habitat First Group
  • BDO
  • 7Storeys
  • Worldwide Property
  • Dimora
  • Dominic McKenzie Architects
  • Harry Manning
  • Smart Living
  • Isle Blue
  • MAS Marbella
  • Millgate
  • Jersey Finance
  • guernsey-relocations-logo
  • viberts-logo
  • kpmg-logo
  • author-interiors
  • Wilkinson Beven
  • BoConcept
  • Ante Vrban
  • Deborah Garth
  • You home
  • Ra Shaw Designs
  • Caudwell Collection
  • accanto-interiors
  • Fritz Hansen
  • capital-rise
  • jarrods-staircase
  • neil-davies-logo
  • Tina Shone Group
  • Taplow riverside
  • Aimo
  • ns-ceramics-logo
  • Rusk
  • Consilium Expert Group
  • Ben Krupinski Builder
  • Swoffers
  • Guernsey Relocation Services
  • Douglas Graneto
  • Strutt & Parker
  • wilsons
  • MJC Associates
  • plainspace
  • Fine & Country
  • Bramble Ski
  • Penthouse queen
  • Sarco_Affiliate_Logo
  • taylor wimpey
  • cooper-gardner
  • M Design Architects
  • codan
  • Lovells
  • London DE
  • HELENA JORNET FINQUES
  • Prime Lands Group
  • Bellegarde Estates
  • Sinclair
  • Pippa Paton
  • Ecole d'Humanite
  • Benedek Lewin
  • Inspired Villages
  • Huelin Homes
  • Gaudin
  • Lovells Property
  • Racecourse Lodge Logo
  • Paseo
  • Lemay + Escobar
  • Octagon
  • Locate Isle of Man
  • Newlands of Stow
  • Hawksford
  • Holdun
  • St George's International School
  • Schule Schloss Salem
  • AR Architecture
  • lazaro
  • Sella Concept
  • Blakstad
  • SAREG
  • miller interior
  • Harrow
  • Pearson
  • Wealth Club
  • Yellow House Architects
  • Designer Touches
  • Zafiro
  • Nicole Murray

Enter your dream destination