WHO ARE LON­DON’S SU­PER-RICH?

The Jewish Chronicle - - CLASSIFIED -

THREE-QUAR­TERS of the own­ers of Lon­don’s most ex­pen­sive prop­erty are from over­seas. That is the con­clu­sion of new re­search by Rhodium Res­i­dence Man­age­ment.

Rhodium spe­cialises in man­ag­ing “su­per­prime” prop­erty (val­ued at more than £5 mil­lion) in cen­tral Lon­don. With a £1.047 bil­lion port­fo­lio, it wanted to find out more about its mar­ket, so it com­mis­sioned re­search. This found that British su­per­prime own­ers are the largest group, with 24.4 per cent of prop­er­ties owned. Rus­sians are next at 6.4 per cent. Lon­don is home to more multi-mil­lion­aires than any other world city and re­ceipts from su­per-prime res­i­den­tial in­vest­ment ac­counted for 14 per cent of stamp duty and land tax re­ceipts in 2015/16.

The fu­ture, says Dean Main, Rhodium’s man­ag­ing di­rec­tor, is Chi­nese.

“In­ter­est from China is on the in­crease, with one bil­lion­aire in Asia cre­ated ev­ery three days in 2015 and looks set to boost UK econ­omy,” he says.

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