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London Sits Third For Global Super-Prime Property Availability

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Research by central London estate agency, Bective, has revealed that London is currently home to the third largest available level of super-prime property market stock, with just Hong Kong and New York placing above the capital.

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There are an estimated 63 billionaires currently living in London accounting for 2.3% of the world’s total. When analysing this number in relation to the city’s total population, Bective’s research shows that London ranks third for the highest number of billionaires per 100,000 of the local population (0.70).

Just San Francisco (1.45) and Hong Kong (1.07) currently boast more billionaires per 100,000 of the local population. A clear sign that London remains one of the locations of choice for the world’s wealthiest.

London Ranks Top Third For Super-Prime Property Availability

Bective’s research also found that London sits within the top three in terms of the availability of super-prime property stock for existing, or future, billionaire homebuyers.

Bective analysed 10 global cities based on the level of homes currently for sale at the £10m mark or above.

The research shows that globally, there are 1,890 homes listed for sale at the very top end of the market across these 10 global destinations.

317 of these are located in London, meaning the city currently accounts for 16.8% of this global, super-prime property stock.

Just Hong Kong (904) and New York (537) are home to more £10m+ properties listed for sale, accounting for 47.8% and 28.4% of the global market respectively.

In contrast, super-prime homebuyers face the toughest task in Moscow and Mumbai, with each nation accounting for just 0.1% of all super-prime properties on the market.

Impact Of The Coronavirus Pandemic

Bective Sales Director, Craig Tonkin, commented:

“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.

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.”

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
Sources Visual Capitalist MacroTrends

City Property Stock Listed at £10m plus % of All Super-Prime Properties Sources
Hong Kong 904 47.8% link
New York City 537 28.4% link
London 317 16.8% link
Shanghai 59 3.1% link
San Francisco 32 1.7% link
Shenzhen 19 1.0% link
Beijing 11 0.6% link
Hangzhou 8 0.4% link
Mumbai 2 0.1% link
Moscow 1 0.1% link
All Cities 1890 N/A