Why Marylebone is London’s New Opulent Haute Spot

MaryleboneWatch out Knightsbridge, Belgravia, Mayfair, Kensington, and Chelsea, Marylebone is rising right to the top of London’s elite neighborhoods. Marylebone has been shunned by many expatriates and executives of high-power for years now. But why? Marylebone sits in an enviable location, close to Regent’s Park and famed Oxford Street. Despite this, London’s elite have long looked down on Marylebone.

“Marylebone was traditionally dubbed the area for medical tourism,” says Alex Lawrie, a small-business owner in Marylebone. “Rich people from the Middle East would keep a pied-à-terre in case they needed to visit Harley Street or Welbeck Street [both known for private health care]. It also had the reputation for housing wealthy British bankers who couldn’t afford Chelsea.”
Marylebone apartmentsBut Marylebone is now being sought after wealthy and stylish ones who wish to live in a neighborhood that’s just as good as the rest. The culprit behind this Marylebone craze? Money. Prices in Marylebone are much more friendlier as compared to Mayfair and Knightsbridge, where £5m buys more space than other areas in upmarket central London. Now, for those seeking more lavish properties, prices are starting to match those in Knightsbridge so take advantage now. Mayfair is so yesterday.
In fact, a new study from Knight Frank showed that 15 percent of Marylebone buyers in the past year came from Mayfair, five percent moved from Belgravia and seven per cent left Knightsbridge, Chelsea and Kensington. “Little over a decade ago Marylebone was an overlooked luxury London address,” says Tom Bill, head of residential research at Knight Frank. “But it has become a case study in urban rejuvenation.” So how did Marylebone become so popular? Designer stores started popping up, pavements were relaid, and developers were persuaded to transform offices into luxury residential properties. Marylebone now has one of the biggest construction pipelines in the capital.
The Chilterns

Galliard Homes is constructing stunning, lavish flats called The Chilterns on Chiltern Street, which were visited by Angelina Jolie back in 2013 when the star was searching for property in London. Since many desire to call Marylebone their new home, monthly rents have increased by 19 percent over the past two years. Mayfair and Knightsbridge monthly rents have declined by one percent and six percent correspondingly. Marylebone offers a unique village feel that oozes charm with properties ranging from townhouses to flats that are well priced, despite the rise in prices.