City bonus postcodes - No.5: Mayfair, W1

Mayfair has long been considered one of the most sought after London addresses and it's associations with all things well to do ensures it's enduring popularity with bankers, billionaires, royal families and celebrities

Property in MayfairMayfair: the name has always been synonymous with money and glamour, and so it remains.

This W1 enclave is home to billionaire businessmen, royal families and A-list celebrities.  And the addresses are as famous as the residents:  Berkley Square, Grosvenor Square, Park Lane, Hanover Square.

Less well known, perhaps, is Curzon Street – aka, Hedge Fund Alley, which has dozens of boutique private equity and hedge fund firms.

“Bonus buyers,” says Mohamed Nurmohamed of Chesterton Humberts, “usually spend between £1.5-£4m for an apartment in a beautiful and prestigious period building. They tend to like high-tech features – AV systems, modern design, cutting edge fixtures and fittings.

“They buy either as a main residence or as a pied-a-terre. We’re getting quite a lot of interest this year – Mayfair is a global brand, and people are attracted by the prestige, the security and the fact that property here is a safe Blue Chip investment.”

What about the prices?
The Primelocation Index says: down 2% over the past year