The Real Benefits You Can Get from Investing in Luxury Property in London
London is undoubtedly one of the most diverse, multicultural cities in the world, and this definitely contributes to its global appeal and recognition. The city of London plays host to a good number of global industry players as well, which makes it the ideal centre for real estate property investment, particularly in regard to luxury property. And despite the uncertainty looming with the Brexit referendum, the appeal of London for property investment remains. There are many reasons why the London luxury property market is still booming, and one foremost reason is the favourable rate of exchange, with the second being the rise in house prices. But there are other benefits to investing in luxury property in London, besides. What are these benefits? Let’s find out.
The city of London expanded from small villages and areas, each with its very own charm and personality, and these have all combined to give the city its unique character. Today, the most affluent communities and areas in London are located near the city’s centre, and this includes Chelsea, Belgravia, Mayfair, Kensington, and Knightsbridge. The historic and elegant streets lining these neighbourhoods are a mere stone’s throw away from some of the best retail shops, venues, and restaurants. London properties which overlook gardens and parks come with a hefty price, but London is one of Europe’s greenest cities with its eight Royal Parks, including the famous Regent’s Park and Hyde Park as well as St James’s Park.
Various properties that suit the most selective needs and requirements
London has a wide array of stunning properties ranging from Victorian-style mansions to the most modern serviced apartments and all other kinds of luxury properties which cater to various requirements and tastes. Many of the historic homes in London have retained their original façade and style and serve as residences to some of the most affluent families. But whilst these historic properties’ façade and style remain, the interiors have become modernised with home automation, media rooms and suites, climate control, lifts, and advanced systems for security management. Additionally, the city has adapted to its residents’ needs with developments that provide bespoke amenities and services which are often comparable to some of the most notable hotels.
An incomparable global reputation
Many investors from different countries choose to purchase property in London since the city is considered a safe haven for assets. The United Kingdom has a high ranking in various global indices when it comes to business, and its stability in regard to taxation and regulation is a big plus. Under UK law, investors and business owners are protected, thus leading to more international transactions and contracts. London is also a major centre for finance and other industries, and it boasts some of the best players in aerospace, pharmaceuticals, and technology. Aside from this, London has one of the most developed sectors for professional services, with a selection of premier law firms, property consultants, (especially London property experts like Gerald Eve) and accountants based in the city.
The prices of homes in the centre of London fell in 2017, and they are still down compared to their peak in 2014. But this fall in prices created by Brexit is only temporary, as forecasters confirm; in fact, prices are set to rise this year. The pound’s weakness is a boost to foreign property investors, and this is the best time for them to capitalise on the property market slowdown.
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