Home Uncategorized New homes now account for more than a third of London’s super prime sales

New homes now account for more than a third of London’s super prime sales

by LLB Editor
16th Oct 19 9:40 am

New homes accounted for more than a third of London’s super prime sales in Q2 2019, up from less than a fifth two years ago, as the global wealthy sought out homes more akin to the hotels they are accustomed to, according to the latest research by property consultancy Knight Frank.

According to Knight Frank’s London Residential Development H2 2019 report, new homes sold for more than £10 million have remained resilient in the face of a wider slowdown in the capital, and as a result, accounted for 34% of total sales in Q2, up from 18% in Q2 2017.

Rupert des Forges, Head of Prime Central London Developments at Knight Frank, commented: “Prime buyers are increasingly focused on securing a London residence in a new scheme, prioritising the high level of security and extensive amenity on offer. These purchasers are becoming far more discerning, and in an increasing number of cases we’re seeing them benchmark the homes in which they live against the hotels in which they stay.”

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