Walking into one of the two remaining apartments at the Chesham Place development in London's Knightsbridge, it is easy to see why the property commands a price tag of ￡40m ($71m). Spread over two floors and kitted out with aged wood, walk-in wardrobes and marble surfaces, the seven-bedroom home is at the premium end of the capital's residential market.

The building was redeveloped by Nick and Christian Candy, the property entrepreneurs behind some of London's most upmarket developments, including One Hyde Park, where a penthouse was reportedly sold for more than ￡100m.

While Nick, the elder brother, says the market may not be as hot as last year, sales at One Hyde Park attest that there is little sign of trouble at the top end of the property market – even as prices lower down the ladder are falling sharply.