The more central the market and the more expensive the property, the more likely it is to be purchased by an overseas buyer or foreign national. The wealthiest markets are dominated by the greatest range of nationalities.

Buyers from Russia and other Commonwealth of Independent States (CIS), as well as the Middle East and North Africa (MENA) are more likely to buy in the £5million+ range, (see Graph 2) and especially prominent in the £10million+ market. Here, address kudos combined with proximity to high-end amenities, shopping, and international restaurants and bars, leads to a 'clustering' of the global wealthy.

In the new build market, the range of services and amenities offered at high-end and branded schemes appeals to the global billionaire lifestyle. Both CIS and MENA buyers, who spend more per property in London on average, also spend more on new build than second hand houses, demonstrating the premium that can be generated by this product.

With demand generated from across the globe, limited supply supports owner capital values. Prime Central London property is therefore seen as an attractive asset for cash-rich investors.

Taken from
Spotlight: The World in New London