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Meanwhile prices in the "super prime" segment of the market – properties valued above £10m – are also sharply increasing.
Rising above the orgy of oligarchs' toys, the Odeon Tower now stands as the definitive beacon of "super prime" property.
Billionaires are shunning the London luxury property market, with sales of "super prime" £10m-plus homes in the capital collapsing by 86% over the past year.
"In the super prime market, there is continued emphasis on the quality of stock, and although London continues to be viewed as attractive, volumes have moderated," it said.
But the market for homes at the very top of the range, what the industry calls "super prime," is more buoyant than ever — and within the niche, historic property is in high demand.
Louise Good, head of super prime lettings at Savills, said the company had also witnessed a surge in renters and that the market for big rents in the capital "is very robust at the moment".
Similar(44)
Super- prime customers, defined as people with a VantageScore (similar to FICO) above 780, use only 5.6% of their available credit on average.
Today London is facing a super-prime crisis.
With its location, Christiania is a super-prime piece of property.
One issue is security – which is high on any super-prime buyer's shopping list.
No longer: the area has made the leap from prime to super-prime.
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