Property in England’s capital retains its position as one of the best forms of investment.
Time and time again, property in London proves itself to be one of the most lucrative assets. There are a number of factors as to why this is. First and foremost there is distinct lack of supply in London. Due to a limited land space and planning regulations on the height of buildings in some areas of the city, there is restriction on what can be built. Therefore demand outstrips supply. Secondly, London is popular. And this love for the city is worldwide.
England’s capital city is teeming with cultural attractions. Museums, theatre productions, music events, festivals, pop ups, restaurants, shops, the list goes on and on. And what sets London aside, is the fact that each of these are cutting edge and world leaders in their own right.
It is easy to see why people want to have their own slice of London. Not only does it come with a certain prestige, but additionally it is a robust investment asset. The market is also open to anyone. Foreigners are not restricted on property ownership. This is exactly why this buzzing metropolis is where people like to park their money.
Capital appreciation.
In fact there is good reason for this. Between 1996 and 2007, average values in the city increased by 289 percent. There was a dip in the market due to the 2008 global financial crisis, however values are now well above this peak. Whilst there has been a bit of a slowdown of late due to the announcement of Brexit, this is just another short term blip. The fundamentals behind the market are too strong to be quashed.
East London.
Due the limited supply of land, east London has been pushed into the spotlight. Traditionally an area for industry, the factories and plants have now moved on freeing up huge land masses. This area was highlighted further as it was the venue for the London Olympics in 2012. East London has undergone mass regeneration and property values have responded according. Additionally, its location is very strategic. The city’s two financial hubs, The City of London and Canary Wharf, are both situated in the east of London.
Developers have been straight on board. Residential developments have been springing up, and investors have been snapping them up. The beauty of this part of London is space. New residential projects are brand new buildings, rather than conversions of older buildings. Therefore, units are not restricted on layouts or sizes as is the case in many other parts of London. This is appealing to Asian investors who are used to brand new projects and are put off by the ‘period buildings’ despite having been refurbished internally.
Royal Victoria Residence.
One such development is Royal Victoria Residence that is situated in London’s historic Royal Docks. Waterside living in an enviably convenient location. Aside from its exceptional finishes, it will make for a great investment. Why? Well the area will benefit from the opening of a new mass transit network of Crossrail that will make travel across London incredibly fast. 40,000 new jobs are to come to the area with Asian Business Port. The area is set to become London’s newest business district, and values at an adjacent area, Custom House have already risen 46 percent between Q1 2013 and Q2 2015.
These are figures that cannot be ignored. And is exactly why there is such hype for property in east London. Interest in the city is not expected to cease anytime soon, particularly with the constant increase in its population. But the capital is not just growing in resident numbers, it is growing geographically too and east London is a destination itself. Projects like Royal Victoria Residence provide the perfect opportunity for investors to make their mark in this exciting corner of London.