Aave founder invests in a luxury British mansion in Notting Hill, signaling a contrarian market move

London luxury housing market is facing unprecedented pressure. A series of tax policies implemented by the UK Labour government— including increases in stamp duty and the removal of tax incentives for ultra-high-net-worth foreign residents—have dealt a heavy blow to this once-booming real estate market. Industry forecasts indicate that by early 2026, transaction volumes for properties over £5 million have declined by approximately 40% compared to last year, and the market is clearly in a downturn.

Against this backdrop, a real estate investment by Aave founder Stani Kulečov stands out.

£22 Million Mansion Deal in Notting Hill

According to BlockBeats, last fall, Stani Kulečov completed a major property transaction in the renowned Notting Hill neighborhood in London. The five-story Victorian-style private residence ultimately sold for £22 million—about £2 million below the initial asking price. This price remains among the top in London’s ultra-luxury market and is one of the most significant deals in the area over the past year.

This unique property is located in a prime spot in Notting Hill, offering rare expansive views of the city. Interestingly, Kulečov kept a low profile regarding this purchase, neither making any public comments nor revealing specific motivations behind the acquisition.

A Rare Bright Spot in a Market in Trouble

The reason Kulečov’s investment is noteworthy lies in its timing. London’s luxury housing market is undergoing a profound impact from the UK government’s tax policy overhaul. The increase in stamp duty directly raises the cost of buying, while the removal of tax benefits for non-UK residents and ultra-high-net-worth individuals further weakens international buyers’ purchasing power.

These factors combined have caused a sharp decline in transaction volumes in London’s top-tier real estate market. In this generally sluggish environment, Kulečov’s £22 million deal stands out as a bright spot—it demonstrates that even under the most challenging market conditions, capital still maintains confidence in the long-term value of iconic areas like Notting Hill. Industry insiders see this transaction as a positive signal, suggesting that even amid severe market tests, there are still voices optimistic about the future of London luxury homes.