Americans Trump other foreign buyers for London super prime property

first_img President Trump may be long gone but home buyers from the USA have shot up to second place in London’s international buyer rankings, spending an average £7.3m ($9.3m) during 2019 on a property, according to Knight Frank.Analysis of purchaser data going back a decade in the super prime property central London residential market confirms that on average US buyers comprised the fifth largest source of international demand. Their market share declined to a low of seventh place in 2014.However, more recently a combination of rising global investment interest from high-net-worth US buyers and the weak pound following the Brexit vote have propelled US buyers up the rankings – hitting fourth place in 2018 and second place in 2019 to date, behind Chinese buyers.As their share of the prime London market has surged, so too has their spending power, from an average £5m ($6.3m) spend over the past decade to £7.3m ($9.3m) in 2019 so far – making the US buyer the fifth highest major spender behind Russians (£9.1m), Germans (£9.6m), Turkish (£10.8m) and those from Saudi Arabia (£13.4m).Liam Bailey, Global Head of Research at Knight Frank said, “US buyers have been long-term players in the super prime London residential market. While the weak pound has undoubtedly aided the recent surge in demand from dollar based purchasers – the real driver has been the strength of the London economy over the past two years. Not only has Brexit failed to have any impact, but over this period London has taken the dominant share of US corporate investment in Europe – leading to a significant uptick in demand for prime property from relocating US employees, entrepreneurs and business owners – especially from the tech sector.”Neighbourhoods in demand by US buyers are led by: –1: Marylebone (south of Regent’s Park);2: Mayfair;3: Chelsea;4: Islington and5: Belgravia.CIT, the developers behind Regent’s Crescent, London’s only Grade 1 listed new build overlooking Regent’s Park, are witnessing first-hand the uptick in demand from US buyers. Upon completion in the second quarter of 2020, Regent’s Crescent will offer 67 Grade I listed apartments and nine Garden Villas, with prices from £2.9m ($3.6m) through Knight Frank.Super prime property list:China:  9.4%United States:  6.0%India:  4.7%Russia:  4.0%Hong Kong:  4.0%UAE:  3.4%Italy:  2.7%Saudi Arabia:  2.0%Singapore:  1.3%Germany:  1.3%US buyers in London homebuyers from the USA London’s international buyer rankings foreign buyers in Prime Central London Liam Bailey knight frank June 18, 2019The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Housing Market » Americans Trump other foreign buyers for London super prime property previous nextHousing MarketAmericans Trump other foreign buyers for London super prime propertyUS buyers create surge in London super prime property sales with an average purchase price of £7.3m, and beaten only by the Chinese.Sheila Manchester18th June 201901,083 Viewslast_img read more

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