In a sign that the changes to non-dom status have not affected the market place, Knightsbridge Prime Property has successfully closed two high-value property sales, highlighting the strong and exclusive activity in London's luxury real estate market.
Luxurious Property in Knightsbridge Sold for £5.45 Million By The KPP Sales Team
The Knightsbridge sales team achieved a significant milestone based on Sq/Ft yields by selling a property in Kensington for £6.1 million. They sealed the deal on the second viewing, demonstrating the team's efficiency and the exclusive nature of high-end real estate transactions, which were conducted on an off-market basis.
Off-market listings provide buyers with exclusive access to premium properties not available to the general public, often among the most luxurious and desirable on the market. One of the most significant advantages of off-market transactions is the privacy and confidentiality they offer, which is crucial for high-profile individuals, celebrities, and business executives.
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Nik Malygin of KPP Secures a Prestigious Sale at The Knightsbridge Apartments
Additionally, Sales Associate Nik Malygin at KPP successfully sold an apartment in the prestigious Knightsbridge Apartments for an asking price of £5.45 million. Buyers are drawn to The Knightsbridge Apartments for their exceptional amenities, including a residents' spa, gymnasium, swimming pool, 24-hour concierge services, air conditioning, a 24-hour security team, allocated underground parking, and valet parking services. Located in the heart of Knightsbridge, directly opposite Hyde Park, the apartments are within walking distance of numerous Michelin-starred restaurants, cafes, and the renowned international shopping destinations of Harrods and Harvey Nichols.
Reflecting on the booming market, Nik Malygin commented, "The demand for luxury properties in prime London locations remains exceptionally strong. It's incredibly rewarding to see such enthusiasm for high-end real estate, and I'm particularly pleased with the successful sale of the apartment in the prestigious Knightsbridge Apartments.”
The most recent data from LonRes indicates a notable surge in transactions for properties priced over £5 million. In March 2024, there was a 15.4% increase in transactions within this price range compared to the same period in 2023, and an 8.4% rise compared to the pre-pandemic March average from 2017 to 2019. This trend signals a strong and expanding demand for upscale properties in London's premier locations. For KPP, this represents a positive outlook, as the area stands to benefit from heightened interest and activity in the luxury real estate market.
Despite high prices and intense competition, London's prime real estate market continues to be a stable and attractive investment. Iconic neighbourhoods such as Knightsbridge, Belgravia, Mayfair, and Kensington maintain their allure, representing the pinnacle of luxury living.