International Buyer Trends in Prime London.
24th October 2017
Over the last few years, there has been a
noticeable amount of research based on
sales and marketing inclinations of the
prime and ultra-prime residential areas of London.
Traditionally, the ultra-prime (or super-prime)
residential sector refers to properties valued over
£10 million – or in some other defnitions properties
with valuation in excess of £2,000 psf (£21,528 psm)
In our view, the LUP market resides in its own
class as it elicits additional characteristics which
cannot be solely attributed on price. For example,
traditional price-only de nitions would not include a
one bedroom apartment in the ultra-exclusive One
Hyde Park development, as its current valuation is
well below the £10 million threshold.
Quantitative examples such as the above are
factored in our LUP market analysis. Based on our
interactions with a representative sample of private
clients, the LUP Market could be more accurately
described as the stock of property which appeals
to élite buyers, i.e. those demanding extraordinary
properties in terms of location, quality and finesse.
Naturally, élite buyers fall under the UHNWIs and
BIs bands with investable assets of at least £30
million, excluding personal assets and property such
as primary residence, collectibles and consumer
It is also evident, that the majority of élite buyers
in the LUP market are international buyers - a trend
which is only set to increase as corroborated by
established selling agents.
According to Wealth X, 30% of all UHNWIs
and BIs own at least one residence outside their
primary business nation and predominantly choose
Western Europe and North America as their main
residential base. Consequently, a large percentage
of élite buyers are not contented to a single home,
but many around the world. These individuals are
global citizens with property interests in multiple
locations like NewYork, London,Dubai, Hong Kong,
Monaco and Genève.
They also show interest in
acquiring substantial properties in leisure locations
such as Côte d'Azur, French & Swiss Alps, Caribbean
For many élite buyers, their property buying
decisions are influenced by factors such as having
the opportunity to socialise with like-minded
individuals and being in close proximity to private
Additionally, they strive to accommodate their
global lifestyle preferences such as traveling in private
jets and mega yachts, frequenting exclusive hotels,
as well as cultivating their passions which typically
include fine art, rare wine, vintage watches and antiques.