Only San Francisco (1.45) and Hong Kong (1.07) currently have more, which partially explains why London is currently home to the third-largest available level of super-prime property market stock, with just Hong Kong and New York ahead, according to research from Bective.
The firm analysed 10 global cities based on the level of homes currently for sale at the £10m mark or above and found that, globally, there are 1,890 homes listed for sale at the very top end of the market across these 10 destinations.
317 of these are located in London, meaning the city currently accounts for 16.8% of this global, super-prime property stock.
Just Hong Kong (904) and New York (537) are home to more £10m+ properties listed for sale, accounting for 47.8% and 28.4% of the global market respectively.
In contrast, super-prime homebuyers face the toughest task in Moscow and Mumbai, with each nation accounting for just 0.1% of all super-prime properties on the market.
Craig Tonkin, Bective Sales Director, commented: “It’s fair to say that the pandemic has proved more problematic for London’s super-prime market than it has for the rest of the UK market and ongoing travel restrictions have stifled demand at this very top tier since the start of last year.
"However, we’re now seeing signs that this is on the turn and the prime London market, as a whole, is well poised to make a swift recovery. Not only does it boast the quality of properties that appeal to the super-wealthy homebuyer, but it also has the available stock to sustain this appetite for high-end homeownership.
"As a result, London continues to rank as one of the dominant forces within the global, super-prime property market and the city remains an area of high interest for the world’s wealthiest homebuyers.”
