Knight Frank sold an incredible £158m worth of top-end property in one tiny area - north Surrey - in the space of four months. Each home cost a minimum of £4m and all the deals were done between April 1 and August 1.
Only a minority of buyers (32%) were from the UK.
The majority (43%) were from Russia and the CIS, with 15% from the rest of Europe, 5% from the Middle East and 5% from India.
The properties, in the area which includes St George’s Hill in Weybridge and the Wentworth estate at Virginia Water, commanded an average price per square foot of £713.
James Cleland, partner in Knight Frank’s Country Department, responsible for prime sales in north Surrey, said: “As with the majority of the UK, the market in north Surrey was extremely difficult during the credit crunch. The number of top-end sales dropped dramatically and those vendors who had to sell were confronted with accepting significantly reduced prices.
“The market has undoubtedly made a very significant recovery.
“The fact that seven properties have exchanged contracts at figures in excess of £10m, with a further three under offer, clearly illustrates this.”
Comments
Looks as if this countrys land will soon belong to anyone but the British! Ah well, most of our industry is now the same....;>)
Lucky buggers - can I have some please?