As 2024 has proven to be a year of change in the UK’s fiscal landscape, the luxury real estate market in London is poised for transformation in 2025. With adjustments such as the abolition of non-domiciled (non-dom) status and increases in taxes on second homes, the dynamics of property ownership are evolving. But how will these shifts impact what Ultra-High-Net-Worth Individuals (UHNWIs) will be looking for in the new year? Will London continue to be a magnet for the global wealthy?

According to Islay Robinson, the city’s allure is far more substantial than any policy changes. He explains, "London has long been the global epicentre for wealth management, world-class education, elite sports, culture, and unrivalled connectivity. Despite shifting tax policies, the city remains a coveted asset for the wealthy."

A key aspect of London’s magnetic pull for UHNWIs is its architectural diversity, which will remain in demand throughout 2025. Robinson highlights that “both historic properties and new builds are at the forefront of buyers' preferences. For those seeking prestige, grand Georgian and Victorian townhouses in areas such as Knightsbridge, Belgravia, and Mayfair continue to hold immense appeal. On the other hand, modern developments, including serviced apartments and bespoke high-end residences, cater to those with a more contemporary taste.”

The interior design also plays a significant role in the purchasing process. UHNWIs are particularly drawn to properties that offer the opportunity to personalise and tailor spaces to reflect their lifestyle. “Buyers are increasingly looking for properties that allow for personalisation — be it a private gallery, a luxurious wellness spa, or even a subterranean car lift,” Robinson adds. “These homes are not just about function; they are about expressing individual personality.”

Robinson concludes with advice for prospective buyers: "In a market like London’s super-prime real estate, hesitation can be a costly mistake. If you come across a property that aligns with your vision, don’t wait. Fortune favours the bold, especially in a market as competitive as this."

You can read the article here, on Tatler's website.