Research from Eccord revealed that ultra-high-net-worth individuals (UHNWIs) are exploring property options beyond the traditional areas such as Mayfair and Knightsbridge.
In 2024, there was a reported 25% drop in sales volumes in the super-prime market, indicating a change in buyer behaviour.
UHNW buyers showed preference for privacy, security, and exclusivity, driven by tax policy changes and lifestyle shifts.
The research also noted that American buyers accounted for 25% of transactions, surpassing those from the Middle East and South Asia.
Off-market transactions have become prevalent, emphasising the importance of private networks for buyers.
As prices in traditional areas have soared, UHNWIs have been attracted to alternative areas such as White City, Nine Elms, Fitzrovia, St. Katharine Docks, and Battersea.
These districts offer high-end properties without the high postcode premiums.
White City has transformed into a luxurious area, attracting design-conscious UHNWIs, while Nine Elms is a preferred spot for tech entrepreneurs due to competitive pricing.
Fitzrovia offers elegance with discretion, appealing to finance professionals, and St. Katharine Docks is ideal for those seeking urban waterfront living.
Battersea attracts families with its blend of heritage and modern homes.
The report also found that many ultra-prime homes are sold off-market, making insider access crucial.
Eccord’s research indicated that tax policies and currency changes have led investors to take a data-driven approach, assessing acquisitions against long-term goals.
