London's Ultra-Prime Property Market Hits Record Highs
Properties above £30 million see unprecedented demand from international buyers
London's ultra-prime property market has reached record levels, with homes priced above £30 million experiencing a surge in demand not seen since before the pandemic. Estate agents in Mayfair, Belgravia, and Knightsbridge report that international buyers, particularly from the Middle East and Asia, are driving prices to new peaks.
A Georgian townhouse in Belgravia recently sold for £48 million, making it one of the most expensive residential sales in the capital this year. The property features seven bedrooms, a private cinema, spa facilities, and a staff apartment.
"London remains the gold standard for luxury real estate," explained one leading property consultant. "The combination of cultural prestige, stable legal frameworks, and world-class amenities continues to attract the global elite."
The trend is fuelled by a weaker pound making London properties more attractive to dollar and dirham buyers, coupled with a limited supply of truly exceptional homes. New developments along the Thames are also commanding premium prices, with penthouses regularly exceeding £20 million.
However, analysts warn that proposed changes to non-domicile tax rules could dampen enthusiasm among some international purchasers, though the immediate impact appears limited.
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Property Correspondent
Eleanor Cartwright is The Great British News's specialist property correspondent, covering the UK residential and commercial real estate markets. She has spent a decade writing about everything from first-time buyer struggles to the ultra-prime London market, and contributes regularly to national property supplements. Eleanor studied Architecture and Urban Planning at the Bartlett, UCL.
