London’s Super-Prime Property Market Shifts Focus to Wellness
The super-prime property market in London, referring to homes priced at £10 million and above, is experiencing a notable shift. Traditionally aimed at older, wealthy buyers, the current market is increasingly attracting younger millionaires and billionaires. According to Beauchamp Estates, the average age of a luxury home buyer has dropped to 41, down from 53 a decade ago.
A driving factor behind this shift is a growing emphasis on wellness among younger buyers. Instead of features like at-home nightclubs and champagne fridges, these clients prioritize amenities such as state-of-the-art gyms, wellness centers, and cutting-edge longevity treatments. Luxury properties are now incorporating wellness features like ice baths and cryotherapy chambers, akin to those at the soon-to-open Garrison Club wellness center in Chelsea Barracks.
In line with this trend, Netflix has launched a new series, "Buying London," which delves into the super-prime property market in London. Starring real estate mogul Daniel Daggers and his team at DDRE Global, the show provides a glimpse into the high-stakes world of selling luxury homes. However, early reactions to the series have been mixed. Some viewers and critics have labeled it as scripted and lacking authenticity, drawing comparisons to "Selling Sunset," its LA-based counterpart.
The series arrived on Netflix on 22 May 2024 and has sparked considerable debate about its portrayal of extreme wealth and the current market dynamics in London’s luxury real estate sector.