After years of turbulence and uncertainty, the London property market is gearing up for a great year ahead. With that being said, despite the uncertainty around Brexit, the impact of the Covid-19 pandemic on the UK property market as well as the rising rate of inflation coupled with market liquidity, London has been and will continue to remain a top destination among global property investors; here’s why.
1 Global hub
London receives overseas investments from all around the globe. London has seen an influx of capital from overseas property investors belonging to the Gulf region, Middle East, India, Russia, Europe and America. For a long time now, London has been considered a safe haven for property investments according to estate agents in York. While buying property in London is not cheap, this very property does come with a risk-free certainty as well as a promise of a profitable investment. And let’s not forget, London is a multicultural hub and a cosmopolitan city making it one of the most sought-after areas to invest in.
2 Ease of buying
For one, there are no restrictions or different rules and regulations for overseas investors. The buying process of overseas investors in the UK is exactly the same as the buying process of locals. It does not matter if a buyer has never set foot in the UK, he or she will still be able to buy property in London. Secondly, the regulations are investor-friendly and property buyers have no hassle when it comes to transferring funds into the UK, which makes the whole process a lot easier. The ease of convenience when it comes to buying property in London, as well as the high return on investment of course, is one of the main reasons that London will continue to be a popular destination among overseas investors.
3 Ongoing innovation and development
The UK government has always focused on various schemes to increase investments, and improve development in the country. Schemes such as the Patent Box scheme and the Enterprise Investment Scheme were designed to increase innovation and encourage investment in small businesses. Known as a financial hub as well as a business hub, London is considered to be one of the most competitive cities in the world!
4 Unrivalled connectivity and transportation
For one, London already has 5 international airports. This allows easy connectivity from any part of the world, which is a must for overseas investors and property buyers. Also, the unrivalled tube network in London allows easy reach to various streets, districts, cities and boroughs which further improves connectivity. Experts believe that as the connectivity from the outskirts and boroughs of London increases, the average price of property in London as well as in the outskirts of London will continue to rise.
5 Transparent property markets
The UK boasts of a rather transparent property market. This is due to the number of independent researchers along with the industry data and market trends that are very easily available with the click of a button. For instance, if an investor was interested in buying a flat in the London city centre, he or she could very easily look at the average price of property for such flats, the past prices as well as the future price predictions. Due to the Covid-19 pandemic, more and more sellers have started listing their properties online which further gives investors the ease of looking at properties from the comfort of their living. And, the introduction of virtual tours and 36o degree videos makes viewing properties all the easier for overseas investors. In fact, the UK has been ranked as the third most open and transparent property market in the world!
6 Foolproof exit strategies
The one reason that many overseas investors consider investing in London as a safe investment is that the London property market always has a well-thought out exit strategy. Even in some of the toughest market conditions, there is always a buyer who is willing to buy property in London. For instance, during the Covid-19 pandemic, there were still multiple buyers who were keen on investing in London. Since London is considered to be one of the best markets in the world, there will always be a buyer who is interested in purchasing property in London which becomes one of the best exit strategies for every investor.
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