With ‘Crazy Rich Asians’ shining a spotlight on Asia’s ultra-wealthy, The Telegraph takes a look at where in London these new buyers are taking their spending power
According to Knight Frank’s latest Wealth Report, this demographic grew 15 per cent during last year alone. Over the course of the next five years, the ultra-wealthy populations of Malaysia, China and India will rise even further – China’s by more than double!
Littering the ranks of this ultra-wealthy population are a number high-end property buyers. Luxury is a top priority for this discerning crowd, particularly if that luxury comes in the form of a new-build home. More often than not, the house-hunter in question is the wealthy parent of an overseas student. As a result, these luxury homes are often found paired with a location in easy reach of a prestigious university.
Unsurprisingly then, this new crop of buyers and investors are drawn to London. The capital is home to a whole host of renowned higher education institutions, many of which have a luxury development close in tow. Few areas illustrate this as well as Holborn – a bustling hub of commerce, culture and education that has quickly become a second home for the capital’s Asian buyers.
The London School of Economics, Kings College and UCL are all in easy reach of the local neighbourhood – and by extension Pinks Mews. Developed by Sons & Co., Pinks Mews is a collection of boutique apartments, housed in distinctive Victorian architecture and tucked away on a private road in the heart of Holborn. The soon-to-launch mews development has already proved popular with Malaysian buyers, even ahead of its official launch.
Pinks Mews features alongside several other central London developments in The Telegraph’s look at where ultra-wealthy Asian buyers are shopping in the capital. The article can be read in full here.