Who buys a super-expensive property in the UK?

Residents of the United Kingdom topping the list of buyers super-expensive real estate in the UK. And although a lot of talk about overseas buyers who are attracted to luxury real estate in the UK, in fact, British citizens are the main buyers of real estate more expensive than £10 million pounds.

This sector of the market saw the strongest recovery since the crisis – since March 2009, prices rose by 42% and almost 18% of prices are above the peaks in August 2008. The rapid recovery of the sector super – Prime residential property in the UK was supported by high demand for the very best homes from both international buyers and domestic. Nearly a third of super expensive luxury real estate has been bought since the beginning of 2012.

In the first place by the number of buyers is British. Russian buyers that follow the British in this list, most active players in this market, they occupied 21% of the market over the same period. Then there are the Europeans, with a share of 15%. Well, the rest of the proportion of buyers accounted for other foreign buyers – Indian and middle Eastern buyers are clearly showing an increased interest in the real estate market in the UK.

Since the financial crisis many rich people began to consider the real estate market of London as a refuge for their capital, considering not only the stability but also the ability to deliver capital growth, compared with other, more volatile markets, which are unable to withstand the crisis.

Into the hands of consumers was played by the weakness of the pound relative to other currencies, which also evaluated potential buyers and investors in luxury property in the UK.

Another interesting trend is the blurring of the boundaries of the purchase of real estate around London.

Very high prices and huge competition pushes potential buyers to pay attention to the areas adjacent to London.

Inside London and also preferences of customers are changing. If traditionally the buyers ‘ interest was focused in the area postcodes of Knightsbridge, Mayfair and Belgravia, but now buyers are seeing the untapped potential in places like Marylebone and Hyde Park.

® Alice Morgan 10.07.2013 g.