Young billionaires are keen to spend their pandemic profits on London property, but would rather have a £10m house than a £30m one.
Knight Frank reported that at least 102 homes in London valued at more than £10m were sold in the year to October, more than in the same period in either of the two previous years.
More homes priced between £10m and £20m changed hands, with 75 being sold in the year to October, compared to 64 the year before. And there were 20 sales of properties between £20m and £30m, the same as last year. Just seven valued at more than £30m were sold, compared with 13 the previous year.
According to Arlington Residential, tech and cryptocurrency entrepreneurs are driving a resurgence in top-end property sales over £10m in the capital, with most of them buying off-market and staying low-profile.
