Twice as many homes were sold in central London for more than £15m this year than in 2020, with overseas buyers seeing the homes as a “bargain”.
Beauchamp Estates reported 32 sales at more than £15m this year, compared with 17 last year. Many of the buyers were from overseas, with the Chinese, Indians, Americans and Russians dominant. Russian and Chinese buyers are expected to lead the way next year.
In addition are the UK-based billionaires, who were able to take advantage of mortgages below the rate of inflation, essentially allowing them to “borrow free”.
