A statistical analysis of the demand for real estate in the UK shows that the very first rise of the cost of apartments in London accounts for the mid eighties. These were the times when property in England was acquired by eminent Arab families, among them, the famous millionaire Al-Fayed. The period of the late nineties until 2004 refers to the Russian investment flows. During this period natives of Russia acquired real estate in huge quantities and thus raised the its price to the soaring heights. Today the market in London is equally divided between domestic companies and individuals, and international investors, and property in London, one of the most prestigious and accessible cities in terms of real estate acquisition, remains to be a desired pulm for many.
During the last twenty years, the cost of houses and apartments in the most prestigious areas of London increased by almost seven times. The property prices in London are growing annually at 3-10% rate, especially the prices for such areas as Mayfair, Belgravia, Knightsbridge, Kensington and Chelsea. In the monetary value grow the services of conveyance solicitors, allowing the deal to happen. The most affordable are considered to be one-bedroom apartments. Property prices in London have increased so greatly that nobody is surprised by the 900,000 pounds cost of one bedroom apartment. And the average cost of presentable two-bedroom apartments of about 124 square meters is currently balancing in the range of 1.5 – 2ml. pounds. Small houses in London in Victorian style will cost from $10 million pounds, townhouses are cheaper 2.9ml. pounds. Of course, these kinds of property are rarely purchased for investment purposes, but as a demonstration of the prestige and status of the owner.
A cheaper, and therefore less prestigious properties are located in North London. The first option to pay attention are the areas of Regents Park and Hampstead – prices in these areas are about 20% lower than for similar objects in the center of London. Charming East London may also be a reasonable direction to take if you are looking to spend a great amount of money, especially the areas of Kew Gardens and Richmond. Most of the property concentrated in these areas has a rich aristocratic history. In this part of London the houses are frequently bought by world-famous celebrities and businessmen.
The most controversial in terms of prestige is considered to be Docklands area. Developers and investors are engaged in its large-scale buildings, are struggling to give it a prestigious status. This course is primarily designed for foreign buyers, since the indigenous British refuse to recognise the elite area. In this regard, realtors, have a reason to believe that real estate is undervalued in Docklands area. And in the futures of growth in property prices in this area of London is approximately 25-30%.
The cost of apartments in London also depends on the proximity of transport hubs. The railway network consists of London Underground, National Rail and the surface trains. The transport system is integrated into a single network, and in fact, it does not matter, next to which station your apartment is located – the proximity to larger transportation hubs is a huge advantage already. All the trains run well on schedule, is equally comfortable and paid single tickets.