London's ultra-prime property market witnessed a staggering influx of wealth last year, with more than £400 million spent on the capital's ten most expensive homes. A significant driver of this activity has been an exodus of affluent Americans, dubbed 'Donald Dashers', seeking refuge from the political climate in the United States following President Trump's inauguration in January 2025.
The American Influx: A New Wave of Buyers
A combination of political unease and a strong US dollar has made London real estate an increasingly attractive investment for wealthy American families. They have been flocking to prestigious neighbourhoods such as Notting Hill, Kensington, and Hampstead. This trend is substantiated by Home Office data, which recorded over 1,930 applications for British citizenship from Americans in the first quarter of 2025—the highest number since records began.
Among the most notable arrivals is George Lucas, the creator of Star Wars. The 81-year-old film-maker discreetly purchased a sprawling mansion in St John’s Wood for £40 million in September, securing a substantial £9 million discount on the original asking price. Lucas is reported to be critical of President Trump.
Another high-profile purchase was made by American venture capitalist Matt Cohler, an early Facebook employee and key Silicon Valley figure. In April, he and his wife Pia paid £22 million for a four-storey detached home in the heart of Notting Hill.
Secrecy, Bargains, and Billion-Dollar Transactions
The luxury market's dynamics are complex, characterised by significant discounts, offshore secrecy, and a diverse international buyer pool. Alongside Americans, 'bargain-hunting' Arab and Chinese billionaires have been active, while some wealthy non-doms are exiting the UK to avoid impending tax changes, creating sales opportunities.
The year's single most expensive sale—and the second-priciest home ever sold in the UK—was the £139 million purchase of The Holme in Regent's Park. Despite new transparency rules, the buyer remains a mystery, with Land Registry records showing the purchase was made via a Luxembourg-based wealth management firm, Zedra.
Secrecy also shrouds other deals. A £26 million mansion on Avenue Road was sold by a British Virgin Islands-registered company granted a rare anonymity exemption. Furthermore, chronic delays at the Land Registry have obscured the picture, preventing public identification of buyers in several completed transactions.
Notable Deals of 2025
£139m, The Holme, Regent's Park: This 'White House' of London, with 40 bedrooms, sold for £139m to an unknown buyer via an offshore trust, a huge £111m below its initial £250m asking price.
£45m, Knightsbridge: A luxury flat overlooking Hyde Park, bought for £60m in 2011 by Chinese billionaire Liu Jianmin, was sold at a £15m loss to an undisclosed buyer.
£41m, Holland Park: Tatiana de Pahlen, granddaughter of Fiat patriarch Gianni Agnelli, bought a large detached house with her husband, investor Charles Lorenceau.
£35m, Belgravia: A townhouse linked to Ukrainian billionaire Oleksandr Yaroslavsky sold for £35m, a sharp drop from the £55m paid for it in 2013.
£28m, Hyde Park: Emirati billionaire Hussain Sajwani, a business associate of Donald Trump, bought a grand townhouse with views over Hyde Park.
£28m & £15m, Belgravia: One five-bedroom house sold for £28m (seller: Tony Buckingham), while a terraced townhouse owned by Greek shipping tycoon Evangelos Pistiolis went for £15m.
£21m, Mayfair: Indian film producer Kishore Lulla sold a luxury apartment for roughly the same £22m he paid for it in 2017.
In total, more than £1 billion was spent on London homes costing over £15 million last year, underscoring the capital's enduring, if opaque, appeal to the global super-rich.
