Savills profits slump as ‘obvious challenges’ hit global real estate activity
London-listed international real estate consultancy has seen pre-tax profits fall from £50.4mn in H1 2022 to just £6mn in H1 2023. But Prime Residential markets "have remained relatively buoyant".
What to read next
American broker giants to merge, creating $10bn real estate behemoth
Compass is set to buy Anywhere Real Estate (parent of Coldwell Banker, Century 21 & Sotheby's International Realty) in multi-billion-dollar deal.
Innovo recruits big-hitters to lead new Real Estate Development Team in London
John Forrester and Brendon Moss join the Middle Eastern luxury property giant to 'deliver the highest quality, contemporary projects in London and beyond.'
US brokerage giant launches global division for cross-border property deals
Compass rolls into international markets including the UK with new agent network.
Most read
Forbes-backed brokerage adds another big name to PCL line-up
Latest Founder Partner brings nearly four decades of top-end agency experience to Martin Bikhit’s new venture.
Property billionaire swaps Holland Park for Monaco
David Reuben becomes the latest big name to leave the UK, joining a Monaco set now controlling some £77bn of Rich List wealth.
Inside St John’s Wood Square: Sales launch at ‘once-in-a-generation’ super-prime project
Portia Fox-designed show apartment unveiled as long-awaited transformation of historic NW8 barracks site hits the market, with pricing revealed for the first time.
RFR brings in super-prime specialist as MD
Former Knight Frank partner joins Chelsea-based buying firm.
Guardian: Why are London mansions struggling to sell?
LonRes chief says there is some ‘unbelievably good value’ in the capital's prime neighbourhoods - but warns the market has yet to find its floor.
London Square owner racks up £1bn-worth of Abu Dhabi sales in a week
International buyers drive bumper sales tally for Aldar across two waterfront launches.
Record transfer window kicks off super-prime rental bonanza
Savills handled more than 20 player and manager relocations over the summer, including a string of deals in Cheshire at more than £30k a month.
Super-prime London scheme lands double win at global branded residence awards
Raffles-branded project takes European and urban titles at inaugural awards programme for booming sector.
Martin Kemp Design takes up residence near Buckingham Palace
Luxury design practice moves into new Buckingham Place studio, with a run of prime resi projects underway and a growing furniture range.
Weekly Showcase: Ten featured prime resi listings
PrimeResi's regular stock check, powered by LonRes
LATEST ARTICLES
Have PCL property values turned a corner?
Fresh Savills data suggests the pace of decline is easing across prime markets, as buyers & sellers become 'more aligned on price.'
Major developer calls time on London as viability ‘fundamentally broken’
Economic rewards for taking development risk in the capital have 'evaporated,' says housebuilding giant boss.
Tories’ inheritance tax sums come under scrutiny
Analysis suggests proposed reforms could cost almost twice as much as claimed - and put a sizeable dent in the number of £1mn-plus homes coming to market.
Sotheby’s International Realty rolls out 50th birthday marketing pageant
Luxury property broker brand marks milestone anniversary with an ad campaign, a coffee-table book and a big agent gathering.
Chestertons names new short-lets boss
London agency reports growing demand from owners whose properties have been sticking around on the sales market.