Celebrity-owned homes sell faster than standard homes, survey finds

Celebrity-owned homes in London sold in half the time of standard homes, research by Beauchamp Estates found. 

The survey found that celebrity-linked homes typically sold in four to six months, compared to 12 to 14 months for standard homes. 

Celebrity homes generated up to 10x more website views and up to 40x more social media posts than standard listings. 

Media coverage was also much higher, with some homes featured in hundreds of editorial articles worldwide. 

However, the number of serious enquiries remained similar, usually between five and 20 per property.

Jeremy Gee, managing director at Beauchamp Estates, said: “A-list celebrities tend to be financially successful people who can afford to buy the very best homes and maintain them beautifully. 

“So therefore buying a home previously owned by a celebrity can provide a high quality, well maintained property which is extremely advantageous when it needs to be resold. It’s like buying an iconic Picasso painting.” 

Rosy Khalastchy, director and head of St John’s Wood office at Beauchamp Estates, said: “Some purchasers like to have ‘buyer’s bragging rights’, so they can tell all their friends and business associates that they own a trophy home formerly owned by a famous A-list celebrity. 

“There is also the value of celebrity endorsement, so a buyer will think ‘well if that house or penthouse is good enough for that famous person, it is certainly good enough for me’. 

“The most recent example is the tenant of the Duchess of York’s £4.2 million mews house in Belgravia approaching the Duchess and buying the property without it even being listed for sale.”

Khalastchy added: “I think this is why the number of offers for A-lister linked homes is double the norm. 

“This is hard to put an actual price on, but for sales and marketing it is highly valuable.”

The research also found that a celebrity connection did not guarantee a higher sale price. 

Location, size, features, quality and presentation remained the main factors for valuation. 

Gee added: “Buying a celebrity linked home, especially if it has a Blue Plaque or public record to identify it, can be extremely beneficial for sales and marketing. 

“Having a celebrity ‘pre-owned’ home doesn’t mean it will sell quickly if the listing price is unrealistic compared to local comparable properties. 

“But if you get the pricing correct, then as the recent sales of Christine McVie and Mick Jagger’s former homes demonstrate, you can leverage the fame by association and sell comparatively quickly, regardless of wider market conditions.”

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