Construction projects in the UK are considered reliable investments. There are many properties that can satisfy any customer's taste – from cosy country houses to prestigious apartments. Despite the global economic and political situation, real estate in London will be in constant high demand. Some of the reasons are the country's stable development, an increasing number of migrants who need housing, and leading business centres in the country.
Advantages of Buying Real Estate in the London
A wide range of offers at 1newhomes.com makes it possible to invest in construction projects with different layouts, locations, and technical parameters. Studios or 1-bedroom apartments can bring a stable income if you rent them. But what is more critical, the property is less likely to be affected by stagnation compared to other European countries.
The most popular objects of investment in real estate in the UK are:
● Student apartments
● Office spaces
● Residential real estate
The cost of Central London apartments keeps increasing every year. The average cost can increase by 10% within only one year. Purchasing a couple of properties can become a new source of stable income for landlords. If the property is close to a famous attraction, it can increase the object's cost even more.
Each year London is visited by 30 million tourists. You can count on the property rent money 365 days a year as the tourist flow does not depend on weather conditions, unlike Spain. After all, the UK is a world educational centre, and the living situation for international students has always been a hot topic and will remain so. Rent prices increase by 1.4% every year.
Buying a new building under construction is also considered an exciting option. Low Commission payments, optimal price, first-class properties are some of the main advantages of investing in British real estate. If you decided to buy residential property to rent it out, there are some search criteria to consider:
Housing conditions: The price may vary based on property conditions. If you decide to buy an old apartment and do the remodelling yourself, make sure to check for all the permission documents.
● District: The cost of rent may increase or decrease depending on the area.
● Mortgage: Mortgage rates depend on the minimum deposit, but professional real estate agents can arrange the best options.
● Purchase of one apartment or multi-apartment buildings: When you purchase several units in the same building, you can generally receive a good discount.
1. Why Are London Property Prices Rising?
The fact is that there are not many residential facilities built each year makes the demand unusually high. World economic instability, political conflicts, and global sanctions encourage investments in safe and reliable old markets, including real estate in London. Moreover, there are not enough new homes in the capital to satisfy everyone's demand.
2. Why Is It Profitable to Buy Real Estate Right Now?
During Brexit, London’s real estate became a goldmine for foreign investors. The pound became less stable due to the UK's decision to leave the European Union. It was a moment of "light turbulence", when the best conditions have become possible. This is one of the factors that explain the particular revival in the real estate market.
Although the process of leaving the EU is over, it is still possible to get favourable conditions. Pandemic has put half of the world in lockdown. It is the right time to invest with minimized risks: there are corporate defaults, oil prices go down, but real estate in London is still in high demand.
Perhaps a few years ago, suitable apartments were listed on realtors' websites for several weeks, and potential buyers could schedule a weekend visit to look at them properly. Currently, the situation has changed.
Why Would I Buy Property in London?
There are many reasons why London is the best city for investment. Some of them are:
● London is a world business centre. Its commercial real estate is the most expensive in the world due to the high demand.
● London is a beautiful city, and each corner is full of history.
● Property in London brings stable income for landlords due to the constant flow of students and tourists.
● London is generally safe and provides all necessities for families with children: schools, education centres, entertainment.
Whether for your family or as an investment, buying a property in London is the best decision. No city in Europe can show constant growth, a stable economy, and favourable real estate conditions as the UK's capital city. Catch this opportunity before it's too late.