Investors have rushed in to reserve luxury homes planned for the revamped Battersea Power Station, with 600 of the 800 properties already claimed after just five days on the market.
The buyers are the first to advance on the redevelopment of south-west London’s iconic behemoth where the price tag per square foot exceeds £1,000.
The UK is experiencing a sharp increase in the number of HNWs making the move from Eastern countries, particularly China. Chloe Barrow finds out why AS UNATTRACTIVE AS living in the UK may be — the faltering economy, the unpredictable weather, sky-high living costs and seemingly hefty income tax — there is no denying its global popularity as a homemaking destination.
As irresistable as the glossy brochures of large scale housing schemes may be, many home hunters might find a better deal if they focus on smaller, less high-profile developments. One attraction of these more humble projects is their “specialness” offering the chance to buy a “one off” flat, rather than clone of the other 199 apart-ments in the block.
Forget bunds, gilts or gold. London prime central residential property is emerging as the safest of all safe havens. If you want to know where those in the know put their personal savings, just talk to a real estate agent in London.
The residential property market in the Prime Central London (PCL) area will remain bullish in 2012, spurred by demand from foreign investors looking for a safe haven amidst uncertain global market conditions, said UK real estate agents and property consultants.
Proposals unveiled last week by the government to boost the housing market — including a scheme to help encourage the return of 95% mortgages — are, as ever, directed towards the new-build market, which is, at present, turning out less than half the number of properties required.
It is a well rehearsed fact that, since the downturn, the rich are getting richer. According to a recent report by Merrill Lynch and Capgemini, the number of millionaires across the globe grew by 8.3 per cent to 10.9m in 2010. The total wealth of these individuals rose to $42,700bn, up from $40,700bn in 2007.
Vastu is the new feng shui – or, rather, the old one, given that some say the former inspired the latter.
… around 40 per cent of the world’s most expensive real estate is bought by Asian buyers for whom the “energy” of a house can be important – and vastu is already impacting on non-Asian design.
We were delighted to be interviewed for a recent radio programme on “The Voice of Russia” about why and where Russia’s billionaires are buying property.
LONDON: In a district in north-west London that is a favourite nesting ground for bankers from all over the world, a premium housing project suddenly found itself making distress sales after the recession. They sold one flat to an Indian.
Luxury-home prices in central London rose at the fastest pace in a year in May as the pound’s weakness encouraged overseas buyers to compete for a declining number of properties for sale, Knight Frank LLP said.
LONDON — It’s not usually until summer is in full swing that wealthy Arabs descend upon London, but this year, along with the unusually warm weather, the rich have come early. As the Arab spring sweeps across the region, Middle Easterners seeking refuge for their cash are snapping up million-pound properties in the British capital.
