By Paul Carey.
London’s prime residential market is experiencing a notable revival, with Gulf and American buyers driving demand as significant price corrections and a weaker pound create compelling buying opportunities.
According to a wealth survey by Beauchamp Estates, US and Gulf purchasers now account for 50 per cent of luxury home sales in London so far in 2026, with buyers from the UAE, Saudi Arabia and Kuwait representing 25 per cent of all Mayfair transactions and 20 per cent of prime central London sales. Sales in Mayfair between January and May rose 15 per cent year-on-year.
The market’s renewed appeal is being driven by a confluence of factors: prime central London values remain sharply below their 2014 peak, sterling continues to offer a currency advantage for dollar-based buyers, and access to high-value international financing — including Sharia-compliant structures — has become significantly more straightforward for overseas purchasers.
Headline transactions illustrate the scale of activity, with The Holme in Regent’s Park — a 40-bedroom, 200-year-old mansion — reportedly exchanging for £190 million, and Nick Candy’s Chelsea home selling earlier this year for in excess of £270 million.
Camilla Dell, Founder and Managing Partner of Black Brick, was quoted in The National, acknowledging that while London has its “fair share of political uncertainty and much higher levels of tax”, the prime London market is now down 24.5 per cent since the peak in 2014, according to Savills. She added: “This long-term depression has had one positive impact. For the first time in generations, London property is starting to look like good value for money. Combined with a weaker pound, a US dollar-based buyer buying today is effectively getting a 40 per cent discount today compared with buying at the peak.”
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