x
By using this website, you agree to our use of cookies to enhance your experience.

TODAY'S OTHER NEWS

London ranked 3rd for global super-prime property availability

London estate agent Bective recently conducted a property market analysis. The findings show that London ranks third place for the third-largest available level of super-prime property market stock.

By analysing 10 global cities based on the level of homes currently for sale at the £10m mark or above, Bective was able to accumulate these findings.

Bective sales director, Craig Tonkin, explains: “It’s fair to say that the pandemic has proved more problematic for London’s super-prime market than it has for the rest of the UK market and ongoing travel restrictions have stifled demand at this very top tier since the start of last year.”

Advertisement

“However, we’re now seeing signs that this is on the turn and the prime London market, as a whole, is well poised to make a swift recovery. Not only does it boast the quality of properties that appeal to the super-wealthy homebuyer, but it also has the available stock to sustain this appetite for high-end homeownership.”

“As a result, London continues to rank as one of the dominant forces within the global, super-prime property market and the city remains an area of high interest for the world’s wealthiest homebuyers.”

Global super-prime property availability

London is currently home to the third-largest available level of super-prime property market stock and sits within the top three in terms of the availability of super-prime property stock for existing, or future, billionaire homebuyers.

San Francisco is in first place with a 1.45 billionaire rate, Hong Kong is second with 1.07 and London is third with 0.70. The figure represents the number of billionaires per 100,000 population. These results ultimately show that London remains one of the locations of choice for the world’s wealthiest.

Currently, there are an estimated 63 billionaires currently living in London accounting for 2.3% of the world’s total.

Bective also discovered that internationally, there are 1,890 homes listed for sale at the top end of the market across the 10 global destinations.

London currently accounts for 16.8% of the global, super-prime property stock as 317 of these homes are in the capital.

On the other end of the spectrum, Moscow and Mumbai only account for 0.1% of all super-prime properties on the market.

Below are two tables of the full results across all 10 global locations. The first table demonstrates the number of billionaires per 100,000 population, while the second shows the property stock listed at £10 million or above.

City Est Number of Billionaires 2021 Est population (metro areas and city areas) Billionaire rate - number of billionaires per 100,000 population
San Francisco 48 3,313,000 1.45
Hong Kong 80 7,481,800 1.07
London 63 9,002,488 0.70
Moscow 79 12,655,000 0.62
Hangzhou 47 7,845,501 0.60
Shenzhen 68 12,592,000 0.54
New York City 99 18,823,000 0.53
Beijing 100 21,450,000 0.47
Mumbai 48 20,668,000 0.23
Shanghai 64 27,796,000 0.23

 

City Property Stock Listed at £10m plus % of All Super Prime Properties
Hong Kong 904 47.8%
New York City 537 28.4%
London 317 16.8%
Shanghai 59 3.1%
San Francisco 32 1.7%
Shenzhen 19 1.0%
Beijing 11 0.6%
Hangzhou 8 0.4%
Mumbai 2 0.1%
Moscow 1 0.1%

 

icon

Please login to comment

MovePal MovePal MovePal
sign up