Buying London is grotesque TV – but it shows the capital’s property market for what it is | Elle Hunt
Seven years ago, when I came to London for the first time, I used to love checking out the listings displayed outside real estate agent offices. Even though the prices were usually way too high for me, it was still fun to imagine what kind of property one could buy for either £5 million or £10 million. I also enjoyed pondering over what would be more beneficial to have at home - a spa or a cinema room.
Recently, it's become difficult for me to enjoy the imaginary real estate world without being reminded of the housing crisis in London. This issue has affected me and numerous other people my age, making it impossible for us to own a home. Nevertheless, a new reality show on Netflix aims to offer a glimpse into London's luxurious "super-prime" property market.
London Purchasing is being promoted as the British version of Selling Sunset, a widely popular reality show on Netflix about selling luxury property in Los Angeles. Both programmes merge stunning property showcases with work-related issues, boosted by energetic pop music and intensifying camera techniques, which can be challenging for individuals who experience vertigo or are beyond 33 years of age.
If the agents on Buying London were dealing with something other than real estate, it would be simple to dismiss the show as shallow entertainment. However, this is not the case. It's rather unpleasant because it exposes not only the wealthy groups that are negatively impacting the city, but also the unimpressive and self-serving people who are colluding with them. The contrast between established and new money, institutional favoritism versus worldwide influence, and asset acquisition versus everyday living is evident. Additionally, the housing shortage crisis is frequently hovering nearby, visible just beyond the camera.
In the first episode of Buying London, they clarify why London's top-tier properties are comparatively smaller in size than those shown on Buying Beverly Hills or Selling Sunset. This is due to the way land has been separated throughout London's history, resulting in buyers receiving less than they expect for the high prices they pay. Daniel Daggers, Buying London's leader, reveals that the city is more costly per square foot than other major cities such as Los Angeles and Sydney. But Daggers is not discouraged by this, in fact, he sees it as an advantage.
Daggers, who also goes by Mr Prime, has sold over £5bn worth of properties to wealthy celebrities. He always wants more and likes to compare himself to another "super agent", Daniel Craig. However, he has a personality that seems to be a mix between David Brent and Kendall Roy. Although I cannot endorse Buying London, it's an experience that you have to witness for yourself to truly understand.
Daggers made a statement that he is the only "i" in "super prime" because there is no "i" in team. He said this with great effort.
When he's not putting on airs to appear relaxed as a fancy real estate agent, Daggers markets his company, DDRE Global, as an innovative player fearlessly challenging the conventional big names of the London market. This implies that his customers are often individuals with recent wealth. A lot of them also hail from other countries, such as South Africa, eastern Europe, and Dubai.
Daggers believes that by targeting an overlooked audience and promoting real estate on social media, he is transforming the way London's luxury property is approached. He openly criticizes the conventional real estate agents, referring to them as "old-fashioned rich people who attended prestigious universities and wore sweaters around their necks". However, his position is undermined in subsequent episodes when he attends a mixer event in the same fashion.
Daggers has ensured his success by having a diverse team of agents. In addition to his numerous agents who possess both good looks and ambition, he also has Oli, who identifies himself as a posho and has many connections with high society. Oli has a vast collection of suits, making him a valuable asset to the team.
A lot of the properties that are showcased are bought by people who live outside of the country and don't plan on residing there frequently, if at all. For instance, a family from Eastern Europe is considering purchasing a townhouse in Belgravia that has three bedrooms for their daughter to use occasionally. The asking price for the property is around £8m. Agent Reme was sent to Dubai for work and was tasked with inspecting a property that's worth £7.4m. The buyer wants to mix up their investment portfolio a little bit.
Watching Buying London can be unsettling, especially for those who live in London. The show centers around expensive properties and constantly uses pull-zooms to draw attention to their luxury features. However, this also highlights how the city is predominantly shaped by and for wealthy individuals at the expense of others. Approximately £55.2bn worth of London property is owned by foreign individuals or companies, with 5% of inner London properties and 9% in Westminster falling under this category. London Mayor Sadiq Khan observed in 2022 that many of these properties are left vacant, despite the fact that many Londoners struggle to find affordable housing to buy or rent.
In an effort to address the housing crisis in the capital, some have suggested prohibiting foreign ownership. This idea follows similar measures implemented in New Zealand and Canada. Despite this, foreign investment continues to fuel sales and support the market. While Buying London may aim to focus on luxury properties, even DDRE's agents understand the wider impact.
A "mega-mansion" worth £26 million in Dubai was recently visited by some people. This mansion had an outdoor cinema with a screen hanging over the swimming pool, a games room, and a fully functional American diner. Agent Rosi, who was present at the visit, remarked that there was a lot to see and enjoy in the mansion. This made Oli, who was also present, chuckle at the thought of what you can get in London for £20 million- probably a small studio in Mayfair.
The recent episode of the show is only slightly relatable compared to the overall absurdity of the series. The show addresses the issue of a small yet highly influential group that is molding London. Despite the polished presentation of the show, the image portrayed is quite distasteful. The team of Daggers seems to be skilled at selling houses, but they are out of touch with the current situation.
who works on various topics, including food, lifestyle, culture, and current affairs. She has written for various publications, including The Guardian, The New York Times, and The Sunday Times. Elle is also a presenter for The Guardian's daily podcast Today in Focus. As a writer, Elle covers a broad range of subjects, from cuisine and leisure to social issues and events. Her portfolio includes renowned publications such as The New York Times, The Sunday Times, and The Guardian. Additionally, she is a host for Today in Focus, The Guardian's everyday podcast show.
