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Prices of property in London have long been determined by rapid growth, doubling every ten years. While the recession has led to lower prices in the UK as a whole, in London they have remained steady. As the city's margins increase to meet demand, smart investors and first-time buyers are constantly waiting for London's next hot spot in search of affordable real estate until prices rise.
For both private buyers and commercial clients, London is becoming so interesting, as it offers a wide range of opportunities for different lifestyles. While commercial buildings for sale in London are forecast to reach a plateau in the coming years, opportunities are emerging in new areas. And building for sale in centre of London are also forecast to level off. Restoration projects in areas such as Southwark and the East End, where some of the most exciting new sites can be found, are proof of that. Experienced investors have already placed their plots in areas such as Shoreditch, Paddington and Ealing Broadway, which are expected to see price increases of up to 50% by 2020 due to their proximity to the London Cross-Rail project.
Real estate prices vary from one street to another, but the most important criterion for buyers is often the proximity to metro stations, lifestyle and, of course, the size and amenities that the property in West London offers. Apartments and houses for sale in London are constantly in demand, while the rental market is one of the highest in Europe and the world.
Investment projects in new property developments in North-West London sector are becoming increasingly popular among foreign investors. It was regarded as a safe haven during the economic crisis, and the market continues to operate at a steady pace. This huge influx of foreign investment is good news for the city, but it has pushed up prices, forcing locals to leave traditional central areas, and led to an increasing number of London commercial properties being rented or sold. This is good news for those who want to get their own property.
Demand for rent in the capital
The demand for housing in London is constantly high, inflated property prices have forced a large percentage of buyers to rent housing. In addition, the population of London is constantly growing, and it is expected that it will continue for the future.
Many investors decided to pay attention to the transformation of houses and apartments in order to increase their profitability. With this method, a gross return of up to 10% is possible, however, you need to consider conversion costs and the potential for higher management fees.
A breakdown of rents for different types of property shows that apartments have performed better than houses in recent years.
Census data from the past few years has shown that a quarter of London families currently live in the private sector, which is 15.5% more than in the last decade. This shift mainly comes down to the availability of real estate.