Prime central London hits the skids: is it really over for the capital’s luxury property market?

Ten years ago a slew of new words entered London’s property lexicon: oligarch, ultra-prime, and UHNWI (ultra-high net worth individuals)

The centre of London — rebranded as “prime central London” or PCL — had come roaring out of the global financial crisis. International buyers converged on Kensington, Knightsbridge, and Mayfair from every corner of the globe in search of a trophy London home, tricked out with Bulthaup kitchens, home cinemas, and, of course, a spa in the newly excavated basement.