Dean Main, Managing Director at Rhodium Residence Management, has commissioned a three-part research study drawing on a large data-set of super-prime homes in Prime Central London.
The objective is to reveal and explain various myths about who lives there and their lifestyles. Given that the Rhodium portfolio totals £1.047 billion, with 24 per cent made up of super-prime property sold (in 2015) within their operating area of Prime Central London, it makes them well placed to provide a detailed analysis of how ‘super-prime’ status actually impacts on the capital.
The first part of the study examines the national origins of super-prime homeowners in London. This exciting, successful UK capital has long been a haven for international diversity; the new mayor, Sadiq Khan’s slogan, ‘London is open’ was a positive affirmation that London is a global trading centre, welcoming talent and investment from around the world:
- Since 2012, London has more super-prime listings than any other city
- The Royal Borough of Kensington & Chelsea has the most concentrated number of the super-prime market equating to 49% of London’s total (homes over £5m)
- Minimal change of ownership – 2014 it totalled 490, 2015 & 2016 reduced by 50%
- Only 6.9% of all £5m plus sales in 2016 were new build, but 95% of Rhodium’s property portfolio were built in the last five years, used as prime or second homes
- Rhodium’s portfolio reflects British super prime owners are the most established at 24.4% with Russia only at 6.4%
- Owners of properties valued at £5-£15million spent £2.7m per annum; over £15m this increases to 4.6%: £325k on staff, £2.7m on interiors & £500k on jewellery & watches
- Interest from China is on the increase, with one billionaire in Asia created every three days in 2015 and looks set to boost the UK economy
- London is home to more multi-millionaires than any other world city and receipts from super-prime residential investment accounted for 14% of SDLT receipts in 2015/16
Rhodium is an ultra-luxury residence management company that specialises in providing bespoke property and lifestyle management services to the most prestigious residential developments and super-prime homes in Prime Central London,
For further information, go on-line at: www.rh-45.com