London Has Its Best Year for Super-Prime Property Since Brexit Vote
The market for £10-million-and-up houses is back, according to a new report by Knight Frank.
A penthouse in Knightsbridge overlooking Hyde Park sold with a guide price of just under £20 million.
Source: Knight Frank
It was the best year for sales of super-prime, or luxury properties above £10 million ($12.6 million) in London since before 2016’s Brexit vote, which ushered in years of political uncertainty and sent the pound tumbling. This is according to a new report by real estate agency Knight Frank.
Between March 2022 and March 2023, 161 super-prime properties were sold, at a total of £3.1 billion. The last time there were more sales was 2015-16, with 164 properties. The highest number of super-prime deals took place in the borough of Kensington with 26 properties sold, followed by 25 in Belgravia and 22 in Mayfair. The biggest month for deals was in December 2022, with 29 deals priced at £10 million and over.