Rhodium Residence Management has published its second research study, ‘Occupancy of London’s super-prime homes’.
The report focuses on the people occupying London’s super-prime homes and the way this occupancy is distributed between main home versus second home. It also examines the status of London over its global rivals as a magnet for overseas investors, students and foreign residents as well as UK residents, all of whom enjoy the lifestyle that London offers 365 days a year.
London has a long history of ‘part-time’ residence. Wealthy aristocrats would vacate London residences at the end of the ‘Season’ to return to country estates. Today it is true that the highly affluent reside in and visit the capital, do business, holiday and enjoy the vast array of services and cultural delights that this global city offers.
Super-prime occupancy – research findings
- More than one in six PCL residents owns a second home; 70,000 are within prime central London
- More HNWIs choose to have a second home in London than any other city; 22,500, outranking New York’s 17,400
- 28% of super prime properties are a main home
- On average the properties in Rhodium’s PCL portfolio are occupied 190 days per year
- Over 40% of Rhodium’s portfolio’s residents are in London due to work commitments; of those aged 30-59, it is more than half
- A recent QS World University Rankings survey put London first for the city students most want to study and it is home to 15 of the world’s top 500 universities
- London is a world leader in Fintech, e-commerce and cyber security
- Despite Brexit London’s tech sector received more investment (£1.4bn) in 2016 than any other European country
All data and charts supplied by Dataloft – date of publication: March 2017
Rhodium is an ultra-luxury residence management company that specialises in providing bespoke property and lifestyle management services to London’s super-prime homes and most prestigious residential developments. Rhodium manages and consults on a portfolio of luxury property worth in excess of £5 billion.