London remains top marathon city for property values
Mayfair tops table for the world’s most expensive marathon neighbourhood as London remains priciest race city
The latest analysis from Enness Global has revealed that London is currently the most expensive property market of any city hosting a World Marathon Major, with Mayfair also ranking as the world’s most expensive marathon neighbourhood for those wanting a front-row seat to the action.
Enness Global analysed average property values across the seven World Marathon Major host cities ahead of next week’s London Marathon, as well as looking at the most expensive neighbourhood within each city and the property prices they currently command.
London home to the highest house price of all major marathon cities
The analysis shows that London tops the table when it comes to average property values, with homes across the capital currently costing an average of £6,930 per square metre.
New York ranks second at £5,436 per square metre, followed by Boston at £5,040. Berlin and Tokyo are broadly in line at £3,953 and £3,931 respectively, whilst Sydney ranks sixth at £3,165.
Chicago is home to the most affordable property market of any World Marathon Major city, with average values sitting at £2,322 per square metre.
However, when it comes to the most prestigious marathon neighbourhoods where property prices are concerned, it is London’s Mayfair that commands by far the greatest premium.
Mayfair tops the table of most prestigious marathon neighbourhoods
The analysis by Enness Global shows that property in Mayfair currently costs an average of £29,301 per square metre, making it the world’s most expensive marathon neighbourhood.
This means Mayfair is more than four times more expensive than London’s city-wide average and almost 78% more expensive than Hudson Yards in New York, which ranks second at £16,483 per square metre.
Bellevue Hill in Sydney ranks third, with an average value of £12,287 per square metre, followed by Beacon Hill in Boston at £9,034 and Minato in Tokyo at £8,819.
Elsewhere, Berlin’s most expensive marathon neighbourhood, Mitte, averages £6,899 per square metre, whilst Chicago’s Lincoln Park is by far the most affordable at £3,661.
Enness Global notes that the world’s leading marathon cities also tend to be among the world’s most desirable property markets, with neighbourhoods positioned close to key race routes often benefitting from particularly strong demand due to their prestige, connectivity and international appeal.
In London, locations such as Mayfair, Knightsbridge and Belgravia continue to attract ultra-high-net-worth buyers from around the world, helping to cement the capital’s position as the leading prime property market of any marathon city.
Islay Robinson, CEO of Enness Global, commented:
“Cities that host the world’s most prestigious marathons tend to share many of the same qualities that appeal to high-net-worth buyers. They are globally recognised, well connected and home to some of the most desirable real estate in the world.
London continues to lead on both counts. Not only is it the most expensive World Marathon Major city when it comes to property values overall, but Mayfair is comfortably the most valuable marathon neighbourhood anywhere in the world.
For many buyers, owning property in these areas is about far more than having a good view of race day. It’s about owning a home in one of the world’s most exclusive and internationally sought-after locations.”
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