Current location:business >>
How middle
business5625People have gathered around
IntroductionMiddle-aged multimillionaires are fuelling London's booming mansion market, as the average age for b ...
Middle-aged multimillionaires are fuelling London's booming mansion market, as the average age for buying a £25million home is now 41 — down 12 years in a decade.
Middle Eastern royals, Indian businessmen and tech billionaires are just some of the buyers purchasing a trophy home in Britain's capital, according to auction house Sotheby's.
A total of 54 homes priced at more than £15million were sold in the UK last year, according to the agency Beauchamp Estates, worth a combined £1.3billion.
The biggest purchase last year was by 'vaccine prince' Adar Poonawalla, who reached a deal with Dominika Kulczyk, daughter of Poland's richest man Jan Kulczyk, to buy Aberconway House — a 25,000 square foot home from the 1920s near Hyde Park.
The £138million price tag made the property the second-most expensive home ever sold in London and the biggest deal of the year.
The impressive red-brick residence is named after Henry Duncan McLaren, aka Baron Aberconway, a turn-of-the-century industrialist who built the Grosvenor Square mansion.
Adar Poonawalla bought Aberconway House - a 25,000 square foot home from the 1920s near Hyde Park
The price tag makes the property the second-most expensive home ever sold in London and the biggest deal of the year, according to luxury property agents
The Boltons in Kensington, London, are a pair of crescents which form the centre-piece of a fashionable residential area in Kensington. Number 22 (pictured) was on the market in 2017 for £57million
The next largest sale of 2023, according to agents, was the £113million purchase of Hanover Lodge.
Essar Group billionaire Ravi Ruia's family office bought the mansion in Regent's Park, which had been linked to Russian property investor Andrey Goncharenko.
It is understood London appeals to the super rich because of Britain's language, its location in Europe, its legal system and world-renowned universities and schools.
A row of houses in Elgin Crescent, in Notting Hill, London, where a terraced house was previously on sale for over £12 million
London appeals to the super rich because of Britain's language, location in Europe, it legal system and renowned universities and schools. Pictured: Grand Victorian mansions in Kensington
A period property in Islington, London which was pictured on September 7, 2019
According to The Sunday Times, middle-aged billionaires are looking for high-tech homes that have tennis courts which can transform into dancefloors, as well as expensive art and luxurious cars.
Not only do they want fixers to provide the homes, but with all the inner furnishings as well — and meeting the demand is causing a battle between the capital's high-end estate agents.
The Sunday Times revealed that Sotheby's will launch a 'billionaire' division next week which will be run by Marcus O'Brien, 31, who negotiated Britain's most expensive home sale — Rutland Gate.
The Knightsbridge property was bought by Chinese tycoon owner Hui Ka Yan before his company had to be bailed out by the Chinese government.
Originally built as four separate family houses, the grand seven-storey, stucco-fronted residence runs from 2-8A Rutland Gate, Knightsbridge
Property tycoon Hui Ka Yan, 63, secretly financed the purchase before his property company had to be bailed out by the Chinese government
The 45-bedroom mansion was formerly owned by a Saudi prince and a Lebanese prime minister, but was bought from the Saudi royals by the Chinese property tycoon for £205million.
There are just a handful of families in the world who can afford to buy, refurbish and maintain the mega-mansion.
Speaking to The Sunday Times, O'Brien said that today's buyers were 'far trendier and less stuffy' than their predecessors and wanted colourful homes in Notting Hill in comparison to those in Belgravia.
He said a lot of the people in the market at the moment tended to be closer to his age because money is becoming younger.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Global Gatherings news portal”。http://qatar.solascripturapublishing.com/content-2b499995.html
Related articles
I'm an ER doctor
businessIn the emergency room, Dr Jordan Wagner, also known as Doctor ER, treats everything from gunshot tra ...
【business】
Read moreMoyes leaving West Ham at the end of the season. Lopetegui linked as the replacement
businessLONDON (AP) — David Moyes will leave his role as West Ham manager when his contract expires at the e ...
【business】
Read moreI have the largest penis in Britain
businessThe man with the largest penis in Britain claims he's been 'inundated' with 'explicit' messages from ...
【business】
Read more
Popular articles
- Madrid Open: Rublev overcomes illness to win title
- John Swinney expected to lead Scotland after being confirmed as Scottish National Party leader
- The foods that cancer experts want you to stop eating
- Trump's strategist push AI to help conservatives, all you need to know
- North Macedonia elections: What is at stake? Who are contesting? All you need to know
- Powerful ethnic armed group in western Myanmar claims to capture base and hundreds of soldiers
Latest articles
Vladimir Putin is sworn in for his fifth term as president at glittering ceremony in front of hand
John Swinney expected to lead Scotland after being confirmed as Scottish National Party leader
Stars and DeBoer moving on after ousting Cup champ Vegas in tight 7
Turkey formally opens another former Byzantine
China to launch Chang'e
REVEALED: Michelin Guide names its first
LINKS
- Death toll in Hebei gas explosion rises to 7
- Xi Story: Beacon of China's Reform and Opening up, Shenzhen Prospers Under Xi
- Police will not save us from gun violence: U.S. media
- Twin giant panda cubs born in Madrid fine, healthy
- China to relax foreign investment rules amid further opening up
- Lao PM says China taking concrete actions to deepen global anti
- Sky Pool links residential blocks in south London
- Xiplomacy: China
- Double blow for UK's Johnson as two Cabinet ministers quit
- Twin giant panda cubs born in Madrid fine, healthy