London remains one of the world’s leading destinations for ultra-prime property buyers but new research shows it sits just outside the top three global markets for trophy homes.
Analysis by Enness Global found that 0.8% of homes currently listed for sale in London are valued at $10m (£7.9m) or more, placing the capital fourth among major international luxury property markets.
The study reviewed listings across 13 global cities popular with high-net-worth buyers to determine the proportion of homes qualifying as “trophy properties” – typically defined by exceptional value, prime location and exclusivity.
Singapore topped the global rankings, with 5.2% of homes currently on the market priced at $10m or more, highlighting the city-state’s unusually deep supply of luxury housing.
TOP SIX CITIES
New York ranked second, where 1.2% of listings fall into the trophy category, followed by Dubai at 1.0%. London’s 0.8% share placed it ahead of Hong Kong in fifth position at 0.7%, with Sydney sixth at 0.5%.
Elsewhere, European cities accounted for a smaller share of the ultra-prime market. Lisbon ranked seventh globally at 0.4%, followed by Madrid at 0.3%, while Paris, Berlin, Toronto, Cape Town and Rome each saw trophy homes represent just 0.1% of listings.
INVESTMENT SECURITY
Islay Robinson (main picture, inset), Chief Executive of Enness Global, reckons trophy properties play a central role in international wealth strategies.
He says: “Trophy homes sit at the very top of the global property ladder and play an important role in the wealth strategies of many high-net-worth individuals.
“For these buyers, property ownership is rarely limited to a single country. Instead, we see clients building international portfolios spanning cities such as London, New York, Dubai and Singapore, allowing them to combine lifestyle flexibility with long-term investment security.”
STRONG APPEAL
He adds that while other markets currently offer greater supply relative to their size, London continues to hold strong appeal among global investors.
“What this research highlights is that while London remains one of the world’s most desirable trophy home destinations, other global cities, particularly Singapore, currently offer greater availability relative to overall market size.
“However, demand for prime London property remains exceptionally strong, and the capital continues to be viewed as a cornerstone market for global wealth.”
