The growth of the tech industry has ushered in a new class of luxury homebuyers in London, according to a report from real estate consultancy Knight Frank. Young and tech-savvy, these buyers are in the market for super-prime properties, which Knight Frank defines as homes priced at £10 million or more, or the equivalent of about $15.6 million. The share of super-prime buyers under the age of 40 was 18% for the year ending in June, compared with 10.7% in the previous year, according to the report. Additionally, the share of these buyers in their 30s went from 7.1% to 14.8% over the same period. “We’re seeing more young buyers who have made their money in tech and IT,” said Knight Frank partner Daniel Daggers in the report. A similar trend is playing out in India. The rise of tech entrepreneurship has lowered the average age of the ultra-high-net-worth individual, with nearly half of this population under the age of 40, according to a recent report from Kotak Wealth Management. View the London listing here.
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