Is It Time That Luxury Homes Came Equipped With Hangars?

The latest rich-clientele demand in London? Luxury homes with proximity to private airports.

With the pandemic having shifted the dynamics of every market, it comes as no surprise that the London luxury real estate market is currently witnessing the rise of a new and slightly unique trend.

The wealthiest of the wealthy frequently make use of their private jets now that commercial air travel has been curbed, and therefore, the biggest demand is for luxury homes that lie close to private airports, so that parking the opulent vehicles becomes easier. And while the overall cost of luxury real estate has dropped by around 4% in the past few months, luxury homes that are near small private airports have gone up in price and have snagged all the spotlight. One prime example for this is the sale of Windsor Park Hall, a mansion in the rural county of Surrey and near Farnborough Airport, for a whopping 21.5 million pounds. The 2,700 square meter property was purchased by a European billionaire, who reportedly flew in to survey the house in his private jet!

On a related note, the London luxury real estate market is facing some challenges as to the purchase of property. With already astronomical tax rates, the British government has aired the idea of levying increased capital gains to boost the country’s economic status. Coupled with tax increases for overseas buyers since April, investing in London is not everybody’s first choice right now.