Thoughts from our Property Experts

Why Mayfair is drawing serious interest on London’s residential property map

by Laurence Lai Laurence Lai, author of this post , Monday 02 October 2023

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Situated in the heart of central London, Mayfair is both beautiful and exclusive. 
Commercial and prime residential have always co-existed side by side. Today however, the Mayfair residential property market has been boosted by a flurry of new super-prime residences.  
 
A recent sale by YOUhome in Mayfair’s Green Street has illustrated that property in Mayfair is very much drawing committed buyers with ready financing today. 
 
‘Residential real estate has been lifted by the outstanding new landmark developments in the area,’ notes Laurence Lai, YOUhome Director, ‘Interest has been boosted by the recent launch of exceptional residences in Hanover Square, Grosvenor Square and Berkeley Square.  These offer prize heritage assets alongside modern, contemporary living.’ 

Most property sales in Mayfair are apartments, with an average price of £5.7m achieved last year. (Source: HM Land registry) Notable 2023 sales include an apartment in Ashburton Place, W1 listed at £38.6m, and an apartment in Grosvenor Square listed at £9m.
 
With a reputation of being a playground for the rich and famous, Mayfair offers green parks, fabulous restaurants and established private member clubs. World class designer shopping, historic landmarks, and royal connections abound. The Royal Academy and St James’s Palace further add to the allure.
 
YOUhome sees the strength of the Mayfair market continuing, as the super prime residential sector is better situated to weather the challenges of London property purchases today.