Exclusive Luxury Homes in Prime Central London
Exclusive Homes London facilitate the acquisition of exclusive London luxury property located within the prime central districts of the Royal Borough of Kensington & Chelsea and the City of Westminster. Our area of activity also covers prime north west London, which includes Hampstead Garden suburbs and Highgate.
Our most prestigious property, such as luxury property in South Kensington, high-end homes in Knightsbridge or exclusive homes in central London, are nearly always located within prime central London. This is not only a fantastic place to live but exclusive luxury homes in central London also make an excellent investment.
The main risk associated with property as an asset class is poor liquidity in slower markets. The best strategy to offset this risk is to buy property in areas of high demand, with limited supply. This pertains mainly to exclusive luxury homes in Mayfair, exclusive luxury homes in Knightsbridge, and exclusive high value homes in central London.
Belgravia, Mayfair and Knightsbridge are tipped to continue being hotspots in London’s prime property market because overseas buyers remain drawn to the city as a safe haven for real estate investment. South Kensington trails closely behind. For our buying clients we specifically provide exclusive high value homes in South Kensington, access to off-market luxury homes for sale in Knightsbridge, exclusive homes in Mayfair and generally finest homes in prime central London. Many of our clients agree that central London includes many of the highest valued and most sought after properties in the world, in some of the grandest streets and finest squares imaginable.
Brexit and it’s Implications
In the period following the UK’s decision to leave the EU, in relation to high end homes in central London, caution has fed into an already underlying lack of urgency among buyers. Prices have continued to adjust accordingly. For overseas buyers, the temptation of a currency play on the back of a fall in the value of the pound, has been offset by the changed tax environment.
It is difficult to see any sustained upward pressure on prices across the prime luxury homes in London until the UK leaves the EU before the end of Q1 2019. But, nor is there likely to be sustained downward pressure on prices, not least because of the prospect of ultra-low interest rates. Throughout this period of convalescence, it is expected that demand will be strongest for property which is best in class; such as exclusive luxury homes in South Kensington or luxury property in Mayfair.
The Future for High Value London Real Estate
Going forward for London, much depends on the extent to which the UK capital retains its status as a global financial centre and world city. The loss of some jobs to other European cities is inevitable, though it is expected this to be limited. The UK Government will undoubtedly seek to protect the status of the City of London.
Additionally, a lack of viable alternatives will work in London’s favour and therefore luxury property in London will continue to be the world’s prime real estate. This indicates the prime markets of London, especially exclusive high value homes in Mayfair and exclusive homes in Knightsbridge, will return to growth as the uncertainty clears. It may not be the kind of double-digit growth previously seen when markets have bounced back in the past due to the changed tax environment. Instead, it is expected to be more in line with the long-term average.
We observed signs of stability returning to the prime central London sales market in the final quarter of 2016. Seeing this clear trend continuing in the first two months of 2017, with asking prices of off-market exclusive high value homes in South Kensington rising slightly, prices of luxury London homes are slowly set to rise. The primary driver for this trend is the fact vendors are increasingly reflecting higher transaction costs in their asking prices, which is narrowing the gap with buyer expectations. This is particularly relevant in relation to off-market luxury homes that are for sale in South Kensington and exclusive homes across Knightsbridge
We note that, in terms of luxury London property price adjustments and coupled with the currency play for international buyers, this has triggered greater buyer commitment with sales volumes having picked up notably in the last quarter of 2016. This has happened specifically around enquiries for luxury homes for sale Mayfair as well as for luxury homes London across the board.
Buyers denominated in overseas currencies are likely to continue to benefit from a broadly favourable exchange rate. Transaction volumes may also be supported as unrealistic expectations of an abrupt Brexit-induced price correction begin to recede; with luxury property in London considered. Given the prevailing market conditions the pendulum has swung in favour of buyers, particularly those looking to acquire London luxury homes or specific area-based luxury homes that are for sale in Central London, such as exclusive homes in South Kensington.
In conclusion, if one purchases exclusive luxury homes in prime central London, as opportunities start to be fully realized across the super prime market, supply diminishes and levels of negotiation cease, prices could begin to rise across prime Central London once more. Such change in favour towards the seller, can happen extremely swiftly in this highly sought after market.