International demand for property in prime areas of Central and Greater London has increased exponentially since the 2008 credit crunch.
Although property prices are rising rapidly, the London real estate market continues to offer many superb investment opportunities, whether buying to rent, or as a second home.
With mortgage rates at an all time low, it’s a challenge to find a better investment that will provide a reasonable income combined with healthy capital growth.
Why buy in London?
The London property market is familiar to investors and particularly in prime areas of central London, history has shown that following periods of recession, prices have recovered at a greater pace than other investment opportunities, demonstrating that London property is a realistic and sustainable investment; a good safe haven.
There is a significant demand for good rental properties but on the other hand there is a shortage of good property to rent; demand is easily outstripping supply, resulting in increased rents and yields.
As a result, numerous new developments are under construction in Prime Central London & Greater London, while new up and coming re-generation areas are also proving enormously popular with overseas investors.
Aside from the current economic factors, London is historically a world-renowned international business centre, a growing cosmopolitan city with an abundance of leisure, education and vast business opportunities.
An excellent choice for the real estate investor!
What, where and why should I buy?
The most important consideration is to determine your motive for buying, as a starter answer these simple questions:
- Is it a pure investment exercise, or do you intend to settle in the property some day?
- Do you require rental income or are you more interested in long-term capital growth?
- How long do you wish to keep the property? Do you have an exit strategy?
- Who will manage your investment?
- What are your tax implications – your tax status is defined by your Nationality?
- What is your available budget now and what is your cash flow availability over the coming years?
There are of course many other parameters to appreciate and consider, but this will at least get you thinking about some of the key fundamentals.
Unless you are experienced in the London property market, I would strongly advise that you seek professional advice from a qualified property professional who will advise and assist you to find the perfect property at the best price to suit your specific requirements.
How much does this service cost?
Most professional property advisers will propose a two–tier charging structure.
- Commitment fee – this is typically between AED 3,000 to 6,000 (£500 to £1,000).
- Commission of between 1.5% and 2% of the property value, on successful purchase.
This service gives you the opportunity to clearly define the motive for purchasing a property and will give the London property expert a complete and detailed picture of what you are looking for.
Once your strategy for investment is defined, the search for your property begins. This could be recommending a first time, off the plan investment, or a search for an existing property in a specific area.
At the other end of the scale, there may be a requirement for a rare ‘off market’ development such as a trophy hotel or apartment block.
Once your potential property investment is sourced, the purchase price is negotiated on your behalf, and when agreed, the legal work starts. Your property adviser would most likely recommend a London based lawyer to act on your behalf and advise you through to the completion of the purchase.
In many cases, advice can also offered on renting, refurbishment, re-development and the management of your new purchase.
Background and Experience
I have been actively involved in the London property market for 15 years, London real estate is my passion!
For 10 years I owned a successful mortgage consultancy based in London, the consultancy advised and arranged mortgages for UK and overseas investors purchasing property in prime areas of Central and Greater London.
During this time I actively bought, sold and re-developed London real estate for investors as well as for my own property portfolio, a portfolio I still maintain to this day, a is testament to my knowledge and expertise.
Since arriving in Dubai in 2010, I have assisted several individuals in Dubai and the GCC source property investments in Central & Greater London and in re-generation areas on the peripheries of this wonderful city.
I am now predominantly based in Dubai and work alongside my London based business partner, who, as well as sourcing property, continues to expand our network of developers, agents and other relevant centers of influence in London.
We are relentless when it comes to sourcing suitable investments for our clients; we will ensure that every avenue is explored and will negotiate fiercely on our client’s behalf until we have found the perfect property at the best price.
If you are interested in learning more and are keen to get your foot on the London property ladder, I would be delighted to assist you.
Saba Jackson can be reached on the contact numbers and email address below:-
Dubai: +971 50 105 6091
London +44 7956 518969
Image Source : FreeDigitalPhotos.net