Chelsea is one of the most exclusive and affluent neighbourhoods in London. A mix of safety, luxury amenities, culture and architecture have contributed to attract the wealthiest individuals to live here and in turn, property prices have skyrocketed.
Since its edgy past as London’s bohemian quarter and a punk-rock hotspot in the 1960s and 70s, Chelsea has transformed into arguably the most famous area of London. It certainly benefitted from the long list of Victorian artists, celebrities, Russian and Middle Eastern billionaires, high-flying central European and American bankers who chose to call Chelsea their home. J.M.W Turner, Dante Gabriel Rossetti, T.S Eliot, Mick Jagger, Bob Marley, Roman Abramovich and Sir Richard Branson have all been residents.
Chelsea, part of the larger Royal Borough of Kensington and Chelsea (formed in 1965), is divided into two sections: SW3 and SW10. The architecture is mostly Victorian featuring large bay windows, pitched roofs, plain or painted brick, iron railings, porches and small gardens. A few streets, located mostly in what is generally referred as “Old Chelsea” near the Thames, are in the Georgian style. These mansions are usually taller, symmetrical, with exposed brickwork, high ceilings and elongated rectangular windows.
Beautiful architecture is only one of the factors that attract the wealthiest international buyers to buy property in Chelsea. Lifestyle is probably the biggest draw for these individuals. In terms of location, Chelsea is second to none – people can experience the London lifestyle to the full with luxurious shopping and famous restaurants. Green space at every corner and the mighty Battersea Park just a short walk across the bridge. Prestigious schools allow residents to send their children to the best of the best in a safe neighbourhood. Lastly, having access to swanky Knightsbridge and Mayfair where big spenders like to indulge in the pleasures that only an international city like London can offer.
Of course, all of this will come to a cost. At the time of writing the average price per square foot in Chelsea’s SW3 is £1,699 – for perspective, buying a 4 bedroom house will cost you close to £4m and a 2 bedroom flat will cost you £2m. In contrast, Chelsea SW10 has always been more affordable with an average of £1,314 achieved per square foot – a 4 bedroom house will cost you just over £3m and a 2 bedroom flat will cost between £1.5m and £2m.
These prices are far from affordable by European standards (with the exception of Vienna, Milan and some parts of Switzerland), however when considering the return on investment from both a monetary and human perspective, it makes sense that the wealthiest individuals choose to buy in Chelsea.
Interlet has considerable experience in property sales in Chelsea, with an established network of vendors both on and off market. With exclusive opportunities ranging from small commercial units to multi-million pound townhouses, one of Interlet’s key strengths is our diverse portfolio. If you seek to live and invest in Chelsea, Interlet is your ideal partner in property.
