The superstar couple have reportedly splashed out on a luxury detached townhouse in west London, having looked for properties in the trendy Mayfair area and outside of London in the Cotswolds.
The deal is thought to have closed on their new home four weeks ago.
A source told the Daily Mirror newspaper: ''Both Jay and Beyonce are Anglophiles and have been toying with the idea of getting a pad for a couple of years now.
''On previous trips, they have stayed in five star hotels and, on one occasion, a rented mansion. While money isn't an issue, it makes sense for them to have a more permanent base and get to know one particular area.''
A home in London would also make sense as the couple are rumoured to be performing on a joint tour that would arrive in Britain later this year.
The source added: ''They are coming to England this year and touring before the year is out.''
Jay, 44, and Beyonce, 32, appeared to enjoy themselves in the British capital earlier this year when Beyonce performed several sold-out concerts at The O2 arena.
The couple - who have a two-year-old daughter, Blue Ivy - were regularly seen out and about, visiting the trendy Arts Club in Soho and indulging in unusual cocktails at the quirky White Lyan pub in Hoxton, east London.
The 'Drunk in Love' hitmakers currently reside in Jay's native New York when they're not travelling the world.
The day Michelle elected Barack as her future husband.
There are more superheroes than ever in the latest Avengers movie, Captain America: Civil War.
'Peep Show' may be dead, but Mitchell & Webb are not.
Made in America Festival is an annual music event founded by rapper and businessman Jay-Z...
Somehow the people at Universal Pictures got it into their heads that easy-on-the-eyes, thin-on-talent Jessica...