Luxury homes in London took two months longer to sell last year, says Christie’s.
In 2014 the average top-end residential home took 165 days to sell, up from 104 in 2013, but only just above the global average of 141 days in global cities, according to the agent’s Luxury Defined report.
International buyers accounted for 44% of luxury homes sales in north London, with western European, Asian, and the Middle Eastern buyers topping the list.
UK buyers are heading to St Barts, the Cayman Islands, Bordeaux, and Dubai.
The Turks and Caicos Islands and Marrakesh in Morocco saw 100% of their luxury homes bought by internationals.
The Cote d’Azur had the highest price per square foot of any location measured world wide, but London, Hong Kong and New York were all in the top four.
Resort destinations topped ultra-high-net-worth individuals’ shopping list for homes. Properties in these locations showed the highest price growth in the luxury market last year, soaring by 28% on average, compared with just 9% in cities defined as global economic hubs.
Luxury homes start at £2m on average, but five properties around the world sold for more than $100m (£66.1m) last year. The most expensive home sold for $147m in the Hamptons, New York, just ahead of the Cote d’Azur, at $146m, and Greenwich Connecticut at $120m.
