We were fortunate to experience stunning weather in London this past weekend, as the city still resonates with the vibrant energy left by the recently concluded Paris 2024 Olympic Games. Summer continues to unfold beautifully here at Duke of York Square.
Shifting Trends in London’s Ultra-Prime Property Market
As we progress through 2024, London’s ultra-prime property market is undergoing notable changes. In prime central London, according to KF, the total value of homes sold for over £15 million has decreased from £829 million in the first half of 2023 to £731 million in 2024. However, the number of transactions has risen, reflecting a growing demand for more modest yet luxurious properties among the ultra-wealthy. This shift towards understated luxury is evident, with buyers increasingly prioritising proximity to green spaces, quality high streets, and excellent transport links. Areas such as Marylebone Square and Southbank new developments like Triptych Bankside next to Tate, are gaining popularity due to their village-like atmosphere and strong sense of local community.
Mayfair’s New Luxury Milestones
In parallel, Mayfair is setting new standards in luxury real estate. Developments like Clarges Mayfair, 1 Grosvenor Square, and the highly anticipated £2 billion 1 Mayfair by Caudwell are elevating the area to potentially become the world’s most expensive residential zone by the end of the year.
Perfect August Getaways
As the real estate landscape shifts, so too can your holiday plans. With August still in full swing, it’s the perfect time to indulge in a bespoke sailing experience. Picture yourself cruising through Turkey’s tranquil coves or along the stunning Amalfi Coast, with a dedicated captain, crew, and expert team attending to your every need. Perhaps you’ll even have time to finish that book you’ve been meaning to read.
Summer Reading: <All That Glitters > – the World of Art
This summer, my holiday reading includes Orlando Whitfield’s latest book—a fascinating dive into the world of con artist Inigo Philbrick. It’s not just a gossipy exposé; it offers intriguing insights that resonate with my own experiences. The book touches on figures like the Russian multimillionaire I briefly worked for in the South of France last summer. One chapter brought back memories of my client ‘Katia,’ the daughter of a Russian oligarch. She was a remarkable businesswoman and a kind, MBA graduate, equestrian, and socialite. I still remember the unique encounter when Katia and her husband Sartori gave me a ride in their golf buggy through their beautiful villa. Although I was offered a job, I ultimately decided to stay rooted in London, where my business and life continue to thrive. As I immerse myself further into the book, I’m reminded of the Sotheby’s auction house and its alleged role in inflating the prices of artworks purchased by Dmitry Rybolovlev—a topic that Whitfield’s book explores in fascinating detail.
Wishing you a wonderful week and a joyful remainder of the summer holiday. @evassetial