The London super-prime property market saw 41 sales of homes priced over £15 million during 2025, the latest wealth survey by Beauchamp Estates reveals.
The activity was driven by the departure of Non-Dom vendors to lower-tax hubs such as Dubai, creating opportunities for a fresh wave of international buyers.
The survey highlights an influx of younger buyers from the Middle East, China and the United States, many seeking lavish “holiday mansions” in the capital.
Analysts describe these purchasers as “bargain hunting,” taking advantage of the super-prime market reshuffle following the Non-Dom exit.
BILLIONAIRE BUYERS
Beauchamp Estates’ year-end 2025 Billionaire Buyers in London report tracks the sales of luxury properties valued at over £15 million across the year, comparing results with 2024 and 2023, and provides forecasts for pricing and trends in the super-prime segment through 2026.
The report suggests that London’s ultra-luxury market remains resilient, underpinned by strong international demand despite tax-driven domestic outflows. The trend illustrates the capital’s continuing appeal as a global playground for high-net-worth individuals, while also signalling a shift in the profile of buyers shaping its most exclusive addresses.
BUYING AND SELLING
Gary Hersham, Founder of Beauchamp Estates, says: “London’s status as a truly international city, with an unrivalled cultural and educational offering, continues to underpin its attractiveness.”
Beauchamp Estates highlight that both the super-prime houses and luxury apartments sold during 2025 are significantly larger than those sold in 2024 and this is because 65% of the vendors have been wealthy Non-Doms who have been selling their principal London residence and relocating to lower-tax wealth hubs, predominantly Dubai, Abu Dhabi and Milan/Tuscany, and also Monaco and Geneva.
Beauchamp Estates say that as part of their exit strategy from the UK some of the emigrees have purchased smaller, lower cost (typically £7 million to £10 million) London pied-a-terres to maintain a presence in the UK capital.
The remaining vendors have been older downsizers (UK nationals) hit by higher taxes and running costs who have sold their main London home and relocated to smaller properties within the same area or moved to the Home Counties.
BARGAIN HUNTING
Beauchamp Estates say that the sales market for homes valued above £15 million in London during 2025 has been driven by younger international buyers, aged from their late 20s to mid 40s, who have gone “bargain hunting” in the UK capital since London prices are now below their 2014 values and due to the Non-Dom exodus there has been a significant supply of trophy homes available for sale.
Picture credit: Beauchamp Estates
The international buyers have been dominated by purchasers from the Middle East, America and China.
Another key buyer group for £15 million plus homes have been affluent UK domestic purchasers, either relocating from the Home Counties into the best addresses in the heart of London, or upgrading from smaller PCL properties.
Hersham adds: “During 2025 approximately 65% of Beauchamp Estates new instructions were coming from non-dom owners seeking to exit the market.
“Nevertheless, a diverse pool of domestic and international buyers proceeded with transactions, demonstrating continued confidence in the capital’s long-term appeal.
“Transaction volumes in prime and super-prime central London declined relative to 2024.”
“Transaction volumes in prime and super-prime central London declined relative to 2024, accompanied by modest price adjustments.
“These conditions enabled buyers to acquire larger properties, increasing the total amount of space actually transacted. Demand concentrated on turn-key properties, with particular interest in fully finished homes. Appetite for private redevelopment projects was greatly diminished.”
WHAT SOLD IN 2025
All the buyers prefer dressed “turn-key” homes and purchase either newly built lateral apartments or houses that have had a major refurbishment.
The demand for second-hand homes requiring refurbishment or off-plan sales has been minimal in 2025.
During 2025 there were 13 sales of super-luxury new-build London apartments priced over £15 million sold, compared to 10 sales in 2024.
The apartments sold during 2025 average 6,063 sqft, each costing an average of £3,765 per sqft (the premium price underlining their new build or newly refurbished status). In 2024 the apartments sold were significantly smaller at 4,260 sqft.
The number of houses priced over £15 million sold in 2025 declined marginally by unit sales, with 28 sold, compared to 30 sold in 2024.
Picture credit: Beauchamp Estates
However the average size of £15 million plus house sold in 2025 was 9,741 sqft, substantially larger than in 2024 when the equivalent figure was 8,382 sqft in size.
Beauchamp Estates say 75% of all £15 million plus deals during 2025 were cash purchases, the same as 2024.
LIFESTYLE SERVICES
Hersham says: “Among turn-key sales, houses providing privacy, larger plots, and dedicated health and wellbeing facilities proved highly sought after.
“Similarly, apartments and penthouses in developments offering lifestyle services – such as gyms, pools, fitness studios, 24 hour concierge, and security – commanded strong interest. Residences within premium or luxury and branded hotel serviced buildings emerged as a particularly strong sector, reflecting a growing trend in the PCL market.”
BUYERS BY COUNTRY
During 2025 buyers from the Middle East accounted for 25% of all super-prime sales, up from 20% in 2024. The growth has not originated from domestic UAE or Saudi nationals, instead it is being driven by buyers originally from India, Pakistan, Yemen and Lebanon who are now resident in the UAE or Saudi Arabia who are now buying second homes in London.
Another emerging buyer group from the “near Middle East” has been wealthy Turkish buyers who have been taking their money out of the troubled Turkish economy and investing it in luxury homes and businesses in London.
The proportion of super-prime sales to buyers from the UK rose to 12%, up from 10% in 2024. Buyers from China and Hong Kong also grew in number to 13%, up from 12% in 2024, whilst buyers from India/South Asia remained the same (20% in 2025 and 2024).
In 2025 American buyers accounted for 20% of all super-prime sales, down from 25% in 2024, buyers from Eastern Europe declined to 5%, down from 8% in 2024, with Western European buyers also dropping slightly to 5%, down from 6% in 2024.
TRUMP EFFECT
Hersham says: “Media coverage highlighted a potential “Trump” effect driving American relocations to London, but during 2025 this proved more headline perception than reality.
“American buyers remained active, often motivated by business interests rather than purely political factors. UHNW individuals continue to view London with some caution, primarily due to tax and regulatory changes under the current government that have made property ownership and residency less attractive.”
SUPER-PRIME WINNERS AND LOSERS
During 2025 there were winners and losers amongst London’s most sought after addresses.
The biggest winner this year has been Belgravia, which accounted for eight of the 41 £15 million plus deals (up from three deals in 2024).
In 2024 the Belgravia market suffered from a large supply of second-hand houses and apartments requiring refurbishment, in 2025 vendors have reacted and either refreshed their homes or adjusted their asking prices, which has resulted in significantly higher sales in Belgravia during 2025.
Beauchamp Estates sold a £15 million house on Chester Street to a buyer from Western Europe who was relocating into Central London from the Home Counties.
Picture credit: Beauchamp Estates
Beauchamp Estates adds that Belgravia has been the top address for Middle East buyers investing in London super-prime homes during 2025 and the wave of £15 million plus deals has helped renew interest and confidence in the local market.
It is perhaps no coincidence that the Omani Royal family have decided to open London’s most lavish new private member’s club, The Pembroke, at 6-7 Grosvenor Place in Belgravia, and super-prime developer Fenton Whelan have just announced their acquisition and refurbishment of the former Sassoon family mega-mansion at 17 Belgrave Square, which will become a £110 million private palace for open market sale, designed to appeal to buyers from the Gulf.
Another London address proving popular with Middle Eastern buyers during 2025, especially from the UAE and Turkey, has been Kensington, with 3 £15 million plus deals (five deals in 2024), including the purchase of a luxury residence by an Emirati billionaire businessman, one of the richest men in the UAE, and a £28 million townhouse on Tregunter Road, sold by Beauchamp Estates to a buyer from the Middle East.
Like Belgravia, Knightsbridge has also seen an improvement in its fortunes with 4 £15 million plus deals, up from 2 in 2024. Like Belgravia vendors have refreshed their homes and adjusted their asking prices, resulting in higher big sales.
With nine £15 million plus deals the best addresses in North-West London have appealed to buyers from America, China and the Gulf, with the arguably the most high profile purchase being American billionaire and Star Wars creator George Lucas acquisition of a £40 million villa in St John’s Wood.
The North-West London deals include three in Primrose Hill, three in St John’s Wood, two in Regent’s Park and one in Little Venice.
The North-West London deals include three in Primrose Hill, three in St John’s Wood (six in 2024), two in Regent’s Park and one in Little Venice.
Two other popular addresses in 2025, especially with American and domestic UK buyers, have been Chelsea, with five £15 million plus deals (down from six in 2024) and Notting Hill with three deals (three in 2024).
Beauchamp Estates sold a £15 million house on Cheyne Gardens to a UK buyer upsizing from the local area.
Picture credit: Beauchamp Estates
Beauchamp Estates observes that Mayfair, the “address of choice” in London for the world’s super-rich, has had a highly frustrating year due to a significant lack of available turn-key stock for sale, including both large apartments and houses.
Mayfair had five £15 million plus deals during 2025, compared to nine in 2024, but the lower deals level is not due to a lack of buyer appetite, there simply isn’t the available stock for sale.
In July 2025 Beauchamp Estates sold the £22 million former Icelandic Embassy on Park Street (main picture and below) to an Indian buyer, the turn-key property, interior designed by Marcel Wanders Studio, sold within just weeks of being listed for sale.
Photo Credit: Beauchamp Estates
There have been three landmark £15 million plus deals in the Whitehall-Millbank political district, where several former government buildings have been converted into super-luxury apartment buildings.
The biggest loser in 2025 has been Hampstead with just one £15 million plus deal (one deal in 2024).
Traditionally popular with wealthy families from Russia and Eastern Europe, the sharp downturn in buyers from Eastern Europe, triggered by the Russia-Ukraine war, has heavily impacted on trophy home sales in the district.
In addition, the profile of the luxury housing stock in Hampstead has changed dramatically over the past five years, with a decline in large family houses, demolished and replaced by luxury retirement flats.
For example The Bishops Avenue, formerly lined with large billionaire mansions, has now become more associated with luxury retirement flats and lateral apartments.
Indian multi-millionaire property developer Amarveer Singh Pannu has just purchased for £16.4 million Hampstead’s Branch Hill House mega-mansion, set in 1.7 acres of gardens, which he plans to convert into No.1 Hampstead, a gated One Hyde Park style scheme providing 50 super-prime apartments, the latest indication of Hampstead’s transformation from mansion hub into apartment district.
ASKING vs ACHIEVED PRICING
For the London homes sold in 2025 above £15 million the percentage difference between the average asking price and the average achieved price is -7.6%, compared to -7.12% in 2024 and -5.6% in 2023.
LONDON SUPER-PRIME IN 2026
Looking at how London’s super-prime residential market will perform in 2026 Beauchamp Estates forecast that for properties priced above £15 million prices are likely to soften by between -2% to -3%, not returning to positive growth until 2027 at the earliest.
However, Beauchamp Estates calculate that the super-prime market will remain extremely active as domestic and international buyers now view London real estate as providing extremely good value and a stable market, especially when compared to rival wealth locations such as Dubai and Abu Dhabi where prices have risen dramatically.
Picture Credit: Beaauchamp Estates
The London market in 2026 will be driven by buyers from the United States, China and the Middle East (purchasers originating from India, Pakistan, Yemen and Lebanon now based in the UAE or Saudi Arabia) and Turkish investors taking their money out of the troubled Turkish economy.
Hersham says: “During 2026 demand for turn-key residences is expected to continue, as buyers increasingly prioritise convenience. HNW individuals will seek properties that allow easy occupation – bringing personal collections of art, antiques, or other prized possessions – while benefiting from professional management during absences.
“London super-prime properties offering exceptional amenities and services will appeal to globally mobile buyers who require low maintenance homes. Enhanced remote management and security systems, supported by on demand staffing, will become increasingly valued.”
YOUNGER DEMOGRAPHIC
And he adds: “The buyer profile in the prime and super-prime sectors will continue to be a younger demographic, fuelled by generational wealth and entrepreneurial success in technology, IT, and entertainment.
“American participation is likely to moderate slightly from 2025 levels, while interest from Near and Far Eastern buyers should remain stable, supplemented by continued growing activity from the Middle East.
“During 2026 prices in PCL are anticipated to hold firm in addresses where supply is tight, particularly for larger lateral apartments and substantial houses. Modest softening of 2-3% may occur in sectors with greater availability or properties straddling the proposed mansion tax thresholds.
“While 2026 transaction volumes are unlikely to revert to historic peaks and capital growth will remain restrained, a modest improvement in activity is probable as prevailing headwinds have largely been absorbed and priced into the market.”
GOOD VALUE-FOR-MONEY
Jeremy Gee, Managing Director of Beauchamp Estates, says: “In 2025 the London super-prime property market has been driven by an outflow of Non-Dom vendors leaving for Dubai and Abu Dhabi, replaced by an incoming wave of “bargain hunting” Middle Eastern, Turkish, Chinese, American and domestic UK buyers purchasing large trophy houses and family apartments in the UK capital.
“London real estate is now viewed by global wealth as providing extremely good value-for-money, especially when compared with rival centres such as the UAE and Saudi Arabia where property prices have soared in recent years.”
MARKED RECOVERY
Rosy Khalastchy, Beauchamp Estates Director & Head of St John’s Wood Office, says: “During 2025 there has been a marked recovery in the fortunes of Belgravia and Knightsbridge, with the highest buyer demand focused on super-prime homes in Central and inner London.
“North of St John’s Wood and Regent’s Park there has been significantly less super-prime buyer demand for homes in outer districts such as Belsize Park, Hampstead and Kenwood, as buyers increasingly prioritise the convenience and proximity to the West End and Knightsbridge that central London addresses offer.
“As a result, demand has naturally concentrated in these core neighbourhoods rather than in the more tranquil, village-like areas further out.”
PROFILE SHIFT
Gee adds: “The super prime sector of the Prime Central London market has shown resilience throughout 2025 with a notable number of key transactions involving larger luxury residences and higher value deals.
“However, we are observing a shift in the resident profile within PCL, with some permanently based HNW individuals and UK nationals choosing to relocate their primary residence overseas – to destinations such as Dubai – whilst overseas buyers are increasingly buying properties as secondary homes or homes for investment.
“It is essential to maintain a balanced mix between UK nationals and HNW individuals.”
“This evolution risks increasing the proportion of properties in areas such as Belgravia, Knightsbridge and Mayfair that are not occupied full time.
“To help sustain London’s position as a globally competitive and economically important capital city, it is essential to maintain a balanced mix between UK nationals and HNW individuals who base themselves here, invest locally, and contribute to the wider economy.
“Beauchamp Estates continues to advocate for policy measures that enhance London’s attractiveness in this regard, including a review of Stamp Duty levels and consideration of a competitive tax environment for those wishing to establish long term residence and invest in the UK.”
