London has long been one of the world’s truly global centres. The financial powerhouse of Europe, the UK’s capital is home to some of the most prestigious real estate around and has been a consistent location of choice for investors in the Gulf looking to put their money into overseas property.
The number of nationalities buying property in London has risen by two-thirds since 2008. The pound’s weakness enabled buyers from 51 nations to buy property in the British capital in June. Chinese and Vietnamese are among the new investors.
Buried beyond the wrought iron gates and tree-lined façades of mansions in fashionable locales of prime London lie the real gatekeepers of the ultra-wealthy: the guards hidden among the shadows; the microphones, pressure pads and sensor beams that criss-cross the gardens…
Summer is here, the much derided home information packs are gone, house prices are slowly returning to their 2007 peak and you have decided to put your home on the market. This time, however, it is different – you have recession wary and double-dip conscious buyers to contend with.
Something we have all learned over the last two years, and most recently with the election result, is that nothing is ever certain. The mantra ‘don’t put all your eggs in one basket’ is now perhaps more relevant than ever, particularly where money matters are concerned.
The question of what makes the best kind of investment is one that we are regularly asked by our clients – both domestic and overseas. In general our clients are inclined to favour new build on the basis that this is a style they are both familiar and comfortable with.
Looking back over 2009, despite the huge economic downturn, it was an unusually strong year for property prices. Prices rose substantially across the UK and recent Nationwide figures show the annual rate of growth has now risen to 8.6 per cent, up from 5.9 per cent in December — the highest rate of growth for two years.
Most homes are bought and sold on the open market, using an estate agent whose job it is to get as many serious viewers as possible through the door. Sellers put up with a stream of strangers – scrutinising the plaster, opening the cupboards and making comments about the decor – because they know they have to in order to achieve a sale, hopefully at a decent price.
The election could bring house sales to a halt at what is traditionally the busiest time of year. Graham Norwood offers tips for sellers and finds bargains for buyers.
Supremely wealthy, an Arab businessman is being shown round a mansion on The Bishops Avenue, the famous billionaire’s row in north London. It is an eye-watering property: it offers the ultimate in bespoke, knee-deep luxury, from the latest in security to lavish leisure facilities, intelligent domestic systems and, of course, a trophy location.
As a professional consultancy, our role is to guide our clients and managing expectations is an important part of this process. Some of our investment clients have a clear focus and vision of what they are trying to achieve; others are happy to be led and guided by us.
LONDON — A three-bedroom, 2,300-square-foot apartment recently went on the market in London’s fashionable Eaton Square and an Italian buyer immediately snapped it up for £5.65 million — a surprisingly quick sale in what has been a flat market.
