Which London areas are popular with overseas investors?
Friday, 13 July 2012 1:52 PM
Almost every day there is a story about nervous investors purchasing central London properties as a safe haven from the economic woes being seen in the eurozone.
London's reputation as a safe haven has only been reinforced during the economic downturn, with more buyers than there are properties.
Wealthy Greeks, Italians, Spaniards and Russians have poured money into some of the capital's most desirable locations in the last few years as the uncertainty in the global economy continues.
The question is, which areas are wealthy foreign investors targeting and why?
Mayfair
Mayfair is one of the most desirable and expensive places in the capital. Houses and flats in Mayfair change hands for several millions of pounds.
It is home to some stunning properties, with Georgian houses, town houses and modern apartments all available.
Mayfair's location, excellent transport links, abundance of top-class restaurants and reputation make it a no-brainer for investors looking to protect their capital.
Knightsbridge
Like Mayfair, Knightsbridge is inhabited by the super-wealthy and property prices in this part of the capital are some of the highest in Europe.
This exclusive corner of central London is home to numerous shops from world-famous brands, some stunning new-build flats and older homes that have been revamped in recent years.
The number of conservation areas in this leafy part of London means the demand for property far outstrips supply, so prices remain robust even in the most turbulent of times.
Chelsea
As well as offering beautiful houses and some top-class facilities, Chelsea has the advantage of providing riverside living.
Investors have long sought refuge in Chelsea, which is trendier than Mayfair and Knightsbridge and popular with young affluent people.
Again, housing stock is limited and demand is high, so it looks likely to attract wealthy foreign buyers for the foreseeable future.
Holland Park
Holland Park is home to numerous celebrities thanks to its great location, parks and stunning properties.
It boasts large Victorian townhouses that change hands for millions of pounds and a variety of world-class restaurants. It is also situated near some of the capital's other desirable areas, including Notting Hill.
Notting Hill
One of the capital's most fashionable locations, property in Notting Hill is in high demand.
As a result, prices have surged and there is little to suggest that this will change going forward.
In Notting Hill, you will find beautiful town houses, quaint art galleries, excellent restaurants and strong transport links, making it an appealing place for a property investor.
Kensington
Kensington is very popular with French investors and families moving to work in the UK.
It is a very stylish place, with attractive Georgian properties, various museums and leafy streets combining to make it one of London's most desirable destinations.
All of the areas mentioned above are in high demand - not just from investors but also affluent families who want to raise their children in a nice area and send them to top schools.
Demand for central London property has always been strong and prices have always reflected this.
Given recent surveys and indicators from property professionals, London's safe haven status is going from strength to strength.
If you are interested in buying an investment property, it is important to seek independent advice before coming to any decisions, as some properties may help you generate a larger return than others.
