Gulf bargain-hunters miss out as Americans swoop on London’s luxury property market

By Paul Carey.

Waiting for the market to reach bottom may mean losing out on the perfect home, warns expert

Black Brick’s annual report reveals shifting buyer demographics, rising neighbourhoods, and what £1 million buys across the capital today.

Middle Eastern buyers sitting on the sidelines of London’s prime central property market may be waiting too long, according to Camilla Dell, Managing Partner of Black Brick. While nearly a fifth of buyers currently registered with the firm originate from the Middle East, Dell warns that a cautious approach carries its own risks.

“The time to buy and get the best deals done is when others are fearful,” said Dell. “Trying to time the exact bottom of the market may risk losing out on your perfect home.”

The warning comes as Black Brick’s Value in Vogue report — reviewing the defining trends of 2025 and the outlook for 2026 — shows American buyers filling the gap left by hesitant Middle Eastern investors. US nationals accounted for 22% of Black Brick sales in 2025, up from under 5% in 2014, with high-profile names such as Tom Ford and George Lucas among those acquiring super-prime London homes.

Mayfair and Marylebone Overtake Traditional Hotspots

American buyers’ preference for period properties has reshaped which neighbourhoods lead the market. Mayfair and Marylebone have displaced Chelsea and Kensington as the most sought-after prime central London locations, with 84% of Black Brick clients now favouring period homes over new builds.

Dell attributes Mayfair’s transformation to sustained investment in its public realm and retail offer: “Mayfair has had a real renaissance — it was more of a business district in 2014, not somewhere to buy a cool flat.”

Marylebone (W1U) recorded the strongest price growth of any prime central London postcode in 2025 at 9.6%, with an average sale price of £2.42 million. Tom Kain, Partner at Black Brick, cited its central location, thriving high street, and proximity to Regent’s Park as key drivers of demand.

What £1 Million Buys Today

The report, drawing on additional research by property analyst LonRes, highlights how far purchasing power stretches across the capital. In Mayfair, a £1 million budget equates to roughly 417 sq ft — studio-sized. Outer London suburbs offer considerably more: in Wimbledon, the same budget could secure a three-bedroom terrace.

Among the suburbs tracked, Hampstead led price growth at 10.6% to an average of £3.8 million, followed by Putney, Muswell Hill, and Chiswick. Dell credits schooling as a major factor: “Hampstead has some of the best private primary and secondary schools in London — we get a lot of people who want to move there for that reason.”

A Decade of Resilience

Despite what the report describes as a challenging decade for London property — shaped by tax changes, Brexit, the pandemic, and the cost-of-living crisis — Marylebone and Mayfair have demonstrated the strongest long-term value retention, posting positive price growth since 2016 while areas including South Kensington and Chelsea have seen significant declines.

Read the article here.

Why Britain’s punitive tax system risks deterring Middle East property investors

Experts are reporting that the UK’s rising tax rates are only making our residential property market less attractive to any wealthy overseas buyers.

As a prime central London buying agent who deals with numerous Middle East investors, Black Brick’s Founder and Managing Partner, Camilla Dell shared her perspective on the matter in a new piece for The National this week.

“Whether you are buying property in New York, London, Hong Kong, Singapore or Sydney – there is significant tax and other additional costs, such as agency fees, to pay,” she said, adding that wealthy buyers should expect to pay high levels of tax when purchasing property in such a sought-after city like London.

How changes to Britain’s stamp duty scheme affect Middle East property investors

Chancellor Rishi Sunak has officially announced plans to launch a stamp duty holiday for UK property buyers, in a bid to boost the market.

However, all good things do have to come to an end, and after 31 March, the holiday will end and overseas buyers will have to pay an additional 2% surcharge on stamp duty.

“Basically you are paying an extra 5 per cent as an overseas buyer,” Black Brick’s Camilla Dell summarised in a new The National News article. “This is because they must pay the 3 per cent for buying a buy-to-let or second home as well as the additional 2 per cent.”

UAE residents can still access UK mortgages post-Brexit

In a new article this week by The National, it’s been revealed that UAE residents looking to buy property in the UK after the country exits the EU can continue to sign up for expatriate mortgages.

It comes after Santander announced it would bar applications from non-residents.

As a leading property buying agent for London, Black Brick’s Camilla Dell shared her perspective on the subject of Middle Eastern investors in UK property, featuring in the article as expecting more lenders to follow in Santander’s footsteps.

“There are still lots of options for expats and international buyers, particularly in the HNW (high net worth) space where Private Banks can take a more flexible approach,” Camilla added.

“The treatment of UAE or Middle East-based clients has not changed markedly for some time and Brexit should not affect this as these clients are clearly outside of the eurozone. EU nationals who recently moved to the UK or are primarily resident in their home countries will be the most affected by these rule changes.”