The £77bn posh homes avalanche: London to get more than 35,000 new luxury homes in the next decade

Which areas are the hottest?

London is set to get over 35,000 new luxury homes over the next decade, a report by property consultancy Arcadis has found.

The consultancy said developers are set to build properties across 196 sites in the capital for a combined sales value of a whopping £77bn.

Chelsea and Fulham is getting the most luxury properties (10,914) totalling £20bn.

Southbank is getting 8.863 properties worth £14.2bn including the Nine Elms development at Battersea.

Mark Cleverly, the head of commercial development at Arcadis, said: “Since around 2009, the value of prime residential property in central London has seen dramatic rises, making it one of the hottest markets in recent memory. So, it is hardly surprising that we have seen ongoing interest from investors all over the world.

“In the longer term we may see some schemes coming through with less prime and more affordable housing, or maybe a gradient of different properties,” he said.

 

Social Bookmarks