Prime central London: Knightsbridge

Knightsbridge is revered for its iconic attractions, landmarks, and superior retail offerings. Sweeping upgrades to the public realm – £50 million of landscaping along Sloane Street, and the opening of The Emory (London’s first all-suite hotel) – are drawing even more visitors to the area.

However, between the bustle of Kensington Road and Brompton Road is another Knightsbridge. Step behind the curtain and into the peaceful residential enclave of Knightsbridge Village, where the streets of Montpelier Square, Trevor Square, and Ennismore Gardens are among the most desirable in the world.

Despite fierce headwinds, big family homes are selling here. In fact, against a landscape of global political instability, stubbornly high interest rates, and an increasingly challenging tax environment in the UK, there has been a flight to the best addresses.

Knightsbridge presents good value this year. The average property price versus the 2014 peak has fallen further than the prime central London average. For US buyers, who are governed by international tax law – and therefore more impervious to UK fiscal policy – the currency play and price adjustments, alongside other US dollar-based buyers, mean trophy assets in Knightsbridge are, on average, 40% cheaper than a decade ago.

Although Middle Eastern buyers have returned this summer, leading to a noticeable uptick in offers and sales, demand may ease in the run-up to the Autumn Budget, and prices could soften again. This will be the tipping point, where Knightsbridge becomes exceptionally good value in a historic context.

On the other hand, the lettings team is emerging from a very busy summer as students, with stories of London’s frantic, post-Covid rental market still ringing in their ears, have taken a scattergun approach and offered on multiple properties at once. This is new for landlords who will miss out on a deal if they are too slow to communicate. The key to the summer student market has therefore been to align the expectations of both landlord and tenant.

Deal flow in the prime family rental market is steady, with the number of European corporate relocators increasing. They are, however, price-aware and focused on quality. Gone are the days when securing a tenant in Knightsbridge was a sure thing. Although rents tracked up into 2025, if a property is tired and not recently refurbished, it will sit empty.

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