Published: 12/04/2023 By Weronika ZolnierzakWhy is Mayfair one of the most desirable areas to live? Chase Apartments cover Mayfair and surrounding areas and we would like to share our expertise with you.
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Mayfair is one of the most desirable areas to live due to its rich history, art, and culture, as well as its prime location in the heart of London's West End. It is known for its luxurious and exclusive properties, which are highly sought after by affluent individuals and families. Mayfair is home to many high-end galleries, including Sotheby's, which has been the world's largest marketplace for art and luxury since 1744. The area is also rich in history, with landmarks such as the oldest man-made object in London, an Egyptian sculpture dating back to before 1600 BC, located above the door of Sotheby's.
Mayfair is also a hub for art and history enthusiasts. The Royal Academy of Arts is located in the area and is home to many exhibitions and events showcasing some of the world's most renowned artists. The area is also steeped in history and is home to many important landmarks such as the Handel & Hendrix in London museum, which celebrates the lives of two of the greatest composers in history.
House prices in Mayfair
Properties in Mayfair had an overall average price of £3,831,786 over the last year.
Overall, sold prices in Mayfair over the last year were 6% down on the previous year and 50% down on the 2019 peak of £7,627,355.
Despite a 6% decrease in property prices over the last year, Mayfair still remains an exclusive and sought-after area.
Market trends in Mayfair
In terms of market trends, average flat prices in Mayfair have increased by 4.9% over the last five years, with buyers paying £111 more per square foot than they did five years ago. However, achieved prices per square foot have decreased for both flats and houses over the last year. Properties in Mayfair also sell at a faster rate than the rest of Central London, with 16.7% of properties selling within three months.
Even though we experienced a recent decline in house prices, Mayfair's property market remains strong, with a variety of high-end developments available for sale or rent. The Clarges, New Hereford House, One Grosvenor Square, Twenty Grosvenor Square, Mayfair Park Residence, and The Residences at Mandarin Oriental are among the top developments to consider.
Chase Apartments - Top 5 developments to live in Mayfair - W1
- One Grosvenor Square - W1
- The Clarges- W1
- Twenty Grosvenor Square - W1
- Mayfair Park Residence - W1
- The Residences at Mandarin Oriental- W1
Chase Apartments - Sales Market Mayfair (January- March 2023)
Mayfair - Sales market (January- March 2023) Lon res by Chase Apartments
According to Lon res key findings in Mayfair W1
- Average flat prices are now 4.9% higher they were 5 years ago, with buyers paying £111 more per square foot than they did 5 years ago.
- Achieved prices per square foot have decreased by 13.4% for flats over the last year, and have decreased by 23.7% for houses.
- 16.7% of properties sold within 3 months, compared with 11.4% for the whole of Central London.
- Properties sold in the last 3 months achieved an average price of £3,333,889 for flats and £17,535,714 for houses.
The Top Things to do as per Trip Advisor in Mayfair
- Visit - Green Park - W1
- Shopping Trip at Bond Street W1
- Visit - Royal Academy of Arts - W1
The Top Restaurants in Mayfair W1
1. The Park Room
2. Ormer Mayfair
3. COYA Mayfair
With many other attractive bars and restaurants in the famous Berkley Square.
I conclude to say Mayfair is a very desirable area to live in and has a rich history with many great attractions. It is located in the heart of London and is known for its luxurious shops, art galleries, and exclusive residences. Some of the most famous attractions in Mayfair include Hyde Park, Buckingham Palace, and the Royal Academy of Arts and other attractions which I have mentioned above.
Chase Apartments is a leading agency in Mayfair, offering properties for sale and rent in some of the top developments in the area, including One Grosvenor Square, The Clarges, and Twenty Grosvenor Square. We are located in the heart of Belgravia and welcome anyone interested to buy to come to our office.
Our address: Chase Apartments, Grosvenor Waterside 32 Gatliff Road
or contact us on email@example.com