Crypto billionaire buys luxury mansion in London amid real estate market downturn

AllInAlice · 2026-02-12T21:18:12+00:00

Stani Kulechov, founder of Aave, has invested £22 million in a mansion in Notting Hill, reflecting unique dynamics in London's luxury real estate market amid pressure from tax reforms. Despite a predicted 40% drop in sales for high-end properties, this purchase signals continued investor confidence in select prime locations.

AllInAlice

2026-02-12 21:18:12

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Aave founder Stani Kulechov has made a major investment in London real estate, purchasing a five-story mansion in Notting Hill. The deal reflects an interesting dynamic in the UK luxury property market, where only select high-end offerings are thriving.

London Market Under Pressure from Tax Reforms

The London premium market is experiencing significant pressure due to the UK government’s policies. The Conservative government has increased property taxes and eliminated tax breaks for ultra-high-net-worth foreign buyers, leading to a noticeable cooling of demand. Forecasts suggest that by December 2025, transactions for properties valued over £5 million could decrease by approximately 40% annually — a clear sign of a luxury segment crisis.

Kulechov’s Purchase: Transaction Details

The founder of the decentralized finance protocol Aave completed the purchase of a mansion for £22 million at the end of last year, according to BlockBeats. The final price was about £2 million below the initial asking price, indicating the buyer’s negotiating position in a weakened market. The five-story Victorian-style building offers panoramic views of the Notting Hill area. Kulechov declined to comment on his acquisition.

A Rare Signal of Optimism in a Depressed Market

Amid widespread activity slowdown in the luxury market, the purchase of such an expensive mansion by a crypto leader is seen as an exceptional sign of confidence in London real estate. The transaction demonstrates that despite overall cooling of interest in the premium segment, some major investors still see potential in prestigious London properties. This highlights the contrast between overall stagnation and selective demand for truly exceptional mansions.

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