Millennials drive 42% of OB Private’s sales this financial year
Curated by OB Private, Crafted for You
London’s luxury market is getting younger
A generational shift is underway in London’s super-prime real estate market. Once dominated by traditional, long-established wealth, the sector is now seeing an influx of younger UHNWIs (ultra-high-net-worth individuals) – entrepreneurs, tech founders, and next-gen investors who are reshaping the way luxury property is bought, sold, and lived in.
This is more than just a demographic trend; it’s a transformation of what luxury means. OB Private’s latest data reveals that among our rental transactions in 2024, 16% were occupied by millennials, 24% by individuals under 30, and 20% by students. On the sales side, buyers under 35 accounted for 42% of our high-end transactions, collectively spending over £45 million.
A surge of the self-made millennials
Unlike previous generations, who often inherited wealth, today’s young UHNWIs are predominantly self-made. These individuals approach real estate not just as a status symbol but as a strategic asset, prioritising high-yield properties in key global cities like London.
London’s unrivalled global appeal
Despite economic shifts and tax policy changes, London remains an unrivalled hub for international wealth. The city’s financial resilience, best-in-class cultural institutions, and dynamic luxury lifestyle continue to attract next-gen investors from Europe, the Middle East, the US, and Asia.
The rise of flexibility-first living
The new wave of younger UHNWIs is mobile, highly discerning, and experience-driven. They value properties that offer more than just prime location – they seek turnkey solutions, smart technology, and full-service concierge living. Many are investing in multiple international homes – a London penthouse, a ski chalet in Courchevel, a waterfront estate in Ibiza.
Super-prime rental demand is at an all-time high
Not all young UHNWIs are rushing to buy; many are strategically renting to retain flexibility. Super-prime rentals (over £5,000 per week) now account for 25% of OB Private’s lettings – the highest proportion to date.
A new era for London’s luxury market
As London cements its status as a hub for young wealth, the luxury real estate sector is rapidly adapting to meet the demands of the new elite. This generation of UHNWIs expects more than luxury, they expect a seamlessly curated lifestyle – one that prioritises technology, sustainability, and an elevated lifestyle experience. Millennials aren’t just entering the high-end property market—they’re shaping its future.
A word from our founder Charlie Gibson
“Everything we’ve built at OB Private is designed to encapsulate the way Millennials and Gen Z interact with property, lifestyle and community. We’ve created a brand that naturally attracts this audience – whether through OB Circle, which connects them to exclusive experiences, or through Perky, which fosters an inviting and open environment. Millennials are more open to communication, collaboration and shared experiences, and by positioning OB Private at the centre of that, we’ve seen tangible results – 42% of our transactions now come from this demographic. We’re not just selling homes; we’re creating a new way of engaging with the next generation of ultra-high-net-worth individuals.”
A word from George Vernon
“OB Private has built a brand that effortlessly resonates with the next generation of UHNW tenants. More than just a real estate agency, we offer a lifestyle – seamless, high-spec, and fully serviced. Our exclusive off-market portfolio and deep-rooted connections place us at the forefront of London’s evolving super-prime lettings market. As younger UHNWIs seek flexibility, discretion, and turnkey luxury, OB Private remains the natural choice for those who expect more than just a rental—they expect a tailored experience.”
