Unprecedented Large-Scale Deal in London's Luxury Real Estate Market—DeFi Founder Purchases Mansion

In November 2025, Stani Kretzschmar, co-founder of the DeFi platform Aave, acquired a luxury mansion in Notting Hill, London, valued at approximately 22 million pounds (roughly 4 billion yen). This transaction is considered one of the significant deals in London’s high-end real estate market over the past year. The purchase is notable as a strategic investment decision amid the current rapidly cooling market environment.

Strict Tax Reforms and Market Pressures Facing the London Market

London’s luxury real estate sector is confronting substantial tax reforms implemented by the UK Labour government. The most impactful changes include increases in stamp duty and the abolition of preferential tax treatments for ultra-high-net-worth foreign residents. According to BlockBeats, these tax reforms are having a serious effect, with transactions of luxury properties exceeding 5 million pounds expected to decline by approximately 40% year-over-year by December 2025.

From Seller’s Market to Buyer’s Market—Significant Slowdown in Real Estate Transactions

The five-story Victorian-style mansion in Notting Hill was sold at a price about 2 million pounds below its initial guide price. This discount rate symbolically reflects a market shifting in favor of buyers. The property offers panoramic views of Notting Hill, yet the fact that a price reduction was necessary indicates how severe the market slowdown has become.

Kretzschmar’s recent purchase is regarded as an exceptional large-scale deal within the shrinking London market. The investment decision by a prominent figure in the cryptocurrency industry is interpreted as a sign of a certain level of confidence in the market’s future prospects.