London’s Most Expensive Homes Are In Demand

London’s priciest homes are in demand and are selling for nearly their full price despite the pandemic.

In London, a total of 56 deals for super-prime $12.9 million-plus properties took place in the first 8 months of 2020, which included the lockdown period, according to a new report by the Knight Frank estate agency. The figure for the whole of 2019 stood at 57.

The gap between asking prices and sales prices narrowed in the second quarter of this year, with super-prime homes being sold for 95% of their asking price. This figure, up from 92% in the first quarter of 2020, represents the smallest reduction since the first quarter of 2017.

Commenting on the figures, Tom Bill, head of U.K. residential research at Knight Frank,

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