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A few facts about the apartments in London

By David Hopes Subscribe to RSS | February 13th 2012 | Views:

London is the most prime destination of UK and takes pride in being one of the greatest cities of the world. Being a financial center London has been the prime center where a large number of people come and stay from all over the world. London has been home to regional populations who have permanent residence over here and are quite wealthy. On the other hand there is a high demand for rental property especially from the businessmen and employees of multinational companies. Apart from this, London has some of the finest universities of the world drawing a large number of affluent families from all over the world who buy or rent property and homes for the purpose of higher education of their children. Therefore, the apartments in London have always been in great demand. Moreover, more and more people in UK are buying real estates and apartments in London as an investment.

A few facts about the apartments in London:

Compared to existing demand the numbers of apartments are falling short in London. Due to shortage of land in the city the number of such residences in London is getting higher than the number of houses. With a large number of overseas investors buying the apartments in London these homes are in high demand. And this ever increasing demand for them in London is sure to lead to a strong growth of property in the coming years.

According to estimation the average property value in the UK is likely to increase by 27% by 2015, with London having the greatest gains of 35%. And this surge results from shortage of new houses and apartments.

In comparison with previous prices the London apartments are already receiving excess price offers and this is much higher than even the pick market of 2007. The houses and apartments in London in excellent locations with all the mandatory criteria have received a rise of at least 10% to 12% than before.

The rapid growth in property prices is encouraging more and more existing homeowners of London to put their homes for sale. On the other hand, this comes as a concern to those investors and buyers, who for the first time may find it crucial to take the first plunge into real estate venture.

However, it is a matter of hope for the buyers that various housing schemes in London are selling growing number of apartments at affordable rates. More than 10,000 such new apartments and houses will be sold at reasonable prices through various housing initiatives and financial support will also be provided by the Homes and Communities Agency.

Since the waiting list for houses is really long what it needs most is construction of more apartments including affordable units by enabling the house builders. Apart from building more number of homes, it is also necessary to hand over decision-making power to the local authorities.

This is the time when outdated planning laws need to be altered to get the job done without constraint. Whereas, lots and lots of apartments need to be built to meet the demand for accommodation, low interest rates and affordable prices are also vital to make an apartment in London available for common people.

David Hopes - About Author:
Rowan Saunders is a real estate advisor who has been in this field for fifteen years by now. He has a thorough knowledge of real estate market trend in UK and the latest developments in this field. He has written a number of articles and blogs on real estate market. His study helps us to understand the current real estate market scenario in UK.

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