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Super Prime Property

We assist our clients with all aspects of sourcing and purchasing residential property in London and Surrey; shortlisting properties of interest, conducting preliminary viewings, purchase negotiations and overseeing the purchase process. Call us on 02037456457

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What is Super Prime Property in London?

Definition of Super Prime Property

Super prime property in London refers to the top 5% of the market by value, signifying unparalleled luxury and exclusivity. Definitions can vary slightly, with some seeing it as simply the “best in class”. This guide examines the various interpretations and trends that define this elite segment.

Super prime properties are typically located in prestigious areas such as Mayfair, Knightsbridge, and Belgravia. These homes often feature state-of-the-art technology, bespoke interiors, and extensive security measures, catering to the needs of the world’s wealthiest individuals.

Distinguishing Prime from Super Prime

Historically, Prime Property in London referred to properties valued at £1 million or more, often situated in Prime Central London. As property prices escalated, the term became less precise. Today, the top 5% of properties are classified as Prime, and the top 1% as Super Prime.

Prime properties encompass a broader range of high-quality homes across various prime London postcodes. In contrast, Super Prime properties are distinguished by their exceptional quality and exclusivity, often found in London’s most desirable districts. The value of Super Prime properties typically exceeds £10 million, reflecting their superior status in the market.

Prime Central London

Prime London

Prime London Fringes

 

Role of Luxury Property Agents

Luxury property agents have adapted to this evolving market by establishing Super Prime departments dedicated to managing these high-value transactions. These departments focus on properties valued over £10 million or those priced above £4,000 per square foot. The criteria for Super Prime can vary outside of London, particularly in the Home Counties and rural markets where property values and buyer expectations differ.

Agents in this niche market provide tailored services, including discreet marketing strategies, personalised property searches, and extensive networks of high-net-worth individuals. Their role is crucial in navigating the complexities of buying and selling properties at this level, ensuring confidentiality and exclusivity throughout the process.

Concept of Ultra Prime Property

The concept of Ultra Prime Property has emerged to describe the most exclusive properties within the Super Prime market. In Prime Central London, transactions frequently surpass £100 million, prompting the need for this new category. An ultra prime market is characterised by at least three transactions above USD25 million annually for three consecutive years.

London is among the 17 global ultra-prime property markets, joining the ranks of other prestigious locations like New York, Hong Kong, and Monaco. These markets attract the wealthiest buyers worldwide, who seek properties that offer unparalleled luxury, privacy, and investment potential.

Current Trends in Super Prime Property

  1. Market Stability and Growth: Despite economic uncertainties and political changes, London’s super-prime market remains robust. Prime Central London (PCL) is projected to experience significant price growth over the next five years, outpacing other UK markets due to renewed interest from affluent domestic and international buyers. The market’s resilience is attributed to the enduring appeal of London as a global financial and cultural hub.

  2. Rising Demand for Rentals: The super-prime rental market is experiencing significant growth, with an increasing number of high-value tenancies. Property owners, faced with flat sales prices, are opting to rent their properties, leading to a rise in super-prime rentals. These rentals, defined as tenancies above £5,000 per week, have seen substantial increases.

  3. Changing Buyer Demographics: There is a notable influx of American and Middle Eastern buyers in London’s super-prime market. Factors such as the strong dollar, geopolitical stability, and London’s appeal as a safe haven for investment are driving this demographic shift.

  4. High Demand for Trophy Properties: Ultra-high-net-worth individuals (UHNWIs) are increasingly seeking “trophy” homes—properties that are not only luxurious but also unique or historically significant. This demand has kept prices high despite a reduction in overall transaction volumes. These trophy properties often feature rare architectural details, prime locations, and bespoke amenities.

  5. Expanding Interest Beyond Traditional Areas: While traditional areas like Knightsbridge, Belgravia, and Mayfair remain popular, there is growing interest in other high-quality developments. Areas such as Fulham, Wimbledon Village, and Battersea Power Station are seeing increased demand for their modern, luxurious properties and community-focused environments.

Purchasing Luxury Property

The finest properties are seldom sold on the open market, often owned by individuals who value privacy and security. This results in most transactions being off-market. High-profile sellers prefer well-qualified buyers, and developers of super-prime properties have a legal obligation to protect their clients’ information by limiting public disclosures.

Information about the best super-prime properties is shared exclusively with select agents. Amity & Co is renowned for maintaining confidentiality and is a preferred choice for new instructions from agents, private sellers, and developers.

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