London, a safe haven for property investment25 September 2015
Throughout the last few years we’ve seen a lot of turbulence in global markets. Of course who can forget the big crash of 2008; but more recently there have been volatile times in Europe as well as other countries across the globe, such as Russia and China. However, one thing that has remained steady during such times of crisis is London’s property market. We hear regularly in the press that prices are going down, that buyers are becoming more cautious or that the market has slowed. This may be true in other parts of the country, but London has never been more popular, not just with those who live in the UK; but also with overseas investors.
London is often said to be in a property bubble, with many questioning when it’s likely to burst. However, in recent years we have seen prices continue to rise and an ongoing influx of foreign money that certainly for the interim doesn’t seem likely to stop any time soon. Why is London so attractive as a property investment? To start with, many see owning a piece of prime real estate in London as a long term investment, it’s a safe place to park a million or so pounds in the knowledge that the return on investment will increase – or in the worst case scenario money won’t be lost.
Secondly, the UK has favourable property laws, particularly for the buyer and more often than not the process is simpler than in other countries. What’s more, London property is not only attractive but located in one of the fastest and most cultural cities in the world, whilst also being at the centre of business.
Presently, you can’t walk around London without noticing that there’s a lot of building going on. This gives investors the opportunity to get in early and buy off-plan, which has become increasingly popular over the last few years. What’s most exciting about off-plan is the chance to pick out your unit and make any tweaks that you deem necessary, and there’s always the added bonus of the reduction in price.
Exciting ongoing developments include:
The Nova Victoria building: Just one of the new developments to spring up in the last year or so, it’s not quite completed yet, giving you the chance to get in on the ground floor and invest early. The borough hasn’t always been favourable but more recently the area has been seen as up and coming, and investment has yielded some spectacular results. The area has always been known for its great commuter links but now we are seeing an influx of high end brands such as Jimmy Choo, Burberry and Tom Ford. There’s also great entertainment situated nearby (for those well-deserved nights out) with the St James Theatre and the Curzon cinema just a stone’s throw away. For more information visit http://www.gartonjoneswestminster.com/news/why-you-should-invest-in-the-nova-building/
The Abel and Cleland development is another example, with highly sought after apartments in the heart of Westminster, which is known for both its local cultural amenities and luxury residences. The apartments are decorated with the sleekest design and include up-to-the-minute modern amenities. The units have a fresh feel and are ultimately sophisticated making the living areas perfect for entertaining. Some of the most desirable features include courtyard gardens, a 24-hour concierge service, private cinema, pool and sauna. The apartments are open plan with fantastic views of all that Westminster has to offer. For more information visit http://www.gartonjoneswestminster.com/current-developments/abell-cleland-house/
Kings Gate is yet another significant luxury development in the borough of Victoria. These types of building projects are signalling real transformation to the area, making Victoria not just up and coming; but highly sought after by those in the know. The building stands proudly in the heart of Victoria, with fantastic views of not just Buckingham Palace but also the Royal Gardens in the north. Why not take a stroll down the riverside or pop in to one of the local patisseries for a well-earned treat, or simply soak up the beauty of the Royal parks: the choice is yours. The apartments boast all the luxury and quality you have come to expect from Garton Jones as well as underground parking and 24 hour concierge service. For more information please visit http://www.gartonjoneswestminster.com/news/kings-gate-unique-and-luxury-development/
The Courthouse is the newly-refurbished old Magistrates Court, which was completed in the summer of 2014. Located on the corner of Horseferry Road and Marsham Street, the building oozes luxury from the outset with its grandiose lobby and use of outstanding materials such as Portland stone. The Court House comes equipped with a fitness suite for whenever the mood takes you and residents can benefit from the underground parking facilities as well as the concierge and porter service. There are studio, or one, two or three bedroom apartments on offer, or for all-out luxury there is the opportunity to own the penthouse. For more information please visit http://www.gartonjoneswestminster.com/current-developments/court-house/
Great Minster House is a brand new development that only opened its doors in March of this year. Located a stone’s throw away from Big Ben, the collection of luxurious apartments on offer in this building are simply exquisite. These elegant apartments showcase British design and each is finished to the highest of standards incorporating space saving ideas with luxury design. The open plan is ideal for entertaining while you can take in the stunning views that Westminster has to offer. For more information please visit http://www.gartonjoneswestminster.com/current-developments/great-minster-house/
When you combine such fantastic developments coupled with the strength of the pound against foreign currencies, it’s easy to see why London property is such a great investment. Many have predicted that the price of property in London is set to rise by around 10% in the next five years meaning that despite some reports; London is set to be a safe haven for many years to come.