New Build Property in the Prime Central London Market Attracts International Investors
Published by Magnate Assets on
Jun 12, 2023
Recent data from Foxtons reveals a remarkable surge in demand for prime London properties, with a 59% increase in demand from buyers and renters in 2022.
Rising Demand for Prime London Property:
Foxtons' annual London Report indicates an impressive rise in demand for high-end London homes. The company's prime London offices experienced the highest levels of transactions since 2016, further underscoring the growing interest in the city's real estate market. Notably, new build properties are in particularly high demand, with buyers and renters seeking the benefits of energy efficiency, low maintenance, and the allure of modern design.
Premium New Builds Attract International Investors:
Premium new build properties have emerged as a top choice for international investors, constituting 15% of all buyers who have expressed interest or entered into agreements for these properties this year. The appeal lies in the opportunity to purchase off-plan or ready-to-move-in properties, combined with the favorable value of sterling throughout 2022. This has positioned prime London as an attractive investment destination for overseas buyers looking to diversify their portfolios.
Alex Isidro, Head of New Homes and Investments at Foxtons, expresses optimism about the continued strength of demand for well-priced new build homes in desirable locations throughout 2023. Additionally, he highlights a growing trend of Hong Kong buyers entering the London market through Build to Rent schemes. These schemes offer flexible tenancy agreements, making the transition to a new country more convenient and accessible for international investors.
The boom in demand for prime London property presents an unparalleled opportunity for overseas investors seeking high-yield investments. With a 59% increase in demand and premium new build properties gaining significant traction, London's real estate market offers stability, growth potential, and attractive returns on investment. As London continues to establish itself as a global hub for real estate investment, overseas investors can confidently explore the wealth of opportunities available and secure their stake in one of the world's most prestigious property markets.