As the global economy faced significant disruption during the Covid-19 pandemic, activity at the top end of the property market continued to demonstrate resilience.
High-value property transactions took place across a number of international markets during lockdown, including record-breaking sales in Greece, New York and the wider Mediterranean region.
At the same time, Enness Global recorded a 44% increase in the total value of borrowing arranged between the first and second quarters of 2020.
High-net-worth mortgage borrowing increased from approximately £1.3bn in the first quarter to around £1.8bn in the second quarter, highlighting renewed confidence among wealthy buyers as property markets began to reopen.
For high-net-worth and ultra-high-net-worth individuals, borrowing is often less about a lack of available capital and more about maintaining liquidity. Rather than committing substantial cash reserves to a single property purchase, many buyers use mortgage finance to preserve capital for investment opportunities and broader wealth management.
This approach can become particularly relevant during periods of economic uncertainty, when maintaining access to liquidity may allow buyers to respond quickly to new opportunities.
Enness Global also arranged finance for a £28M Chelsea property purchase by an American buyer during this period, reflecting continued international appetite for prime London real estate.
