While many lenders have started to tighten their belts in recent months, the high-end market remains unimpeded and is expected to drive price growth forward, as London remains the pinnacle of homeownership for the super-wealthy.
So far this year, there have been some 362 transactions across the capital for £3m or more and high-end homebuyers have paid an average of £4,975,462 to get on the top tier of the London property ladder.
But for those that may still favour a more secluded way of life until the pandemic has fully blown over, the world’s leading high-net-worth mortgage broker, Eness Global, has highlight ten islands that you can buy for the same price of a high-end London home or less.
Just a few months ago, a Swiss luxury real estate owner and developer acquired the Le Grand Jardin estate in the Mediterranean Sea, extended over 14,000m2 the island was previously the residence of royalty such as Louis XIV, the Duke of Guise and the Governor of Provence.
Group CEO of Enness Global Mortgages, Islay Robinson, commented:
“More space, privacy and a greater degree of safety have become the key factors for high net worth individuals looking to buy in a pandemic property market. This is no different in London where we’ve seen many buyers pay above the odds to secure a larger home with more outdoor space in anticipation of future lockdown restrictions.
However, for those searching for a truly pandemic-proof property investment, island life could be the way forward. There are a whole host of private islands available on the current market in locations all over the world, providing a secluded COVID bolthole for a very reasonable price.
If I had the choice of the Bahamas or Mayfair for the impending winter months, I know which one I would choose.”