London is one of the world’s most popular tourist destinations and a colorful city with a rich history. If you choose a proper housing option, you can invest in London’s property that will ensure you a stable income. Despite the fact that the average cost of housing in London is higher than in other cities in Britain, many people from all over the world want to live here, which makes investing in local property very profitable.
Our team will help you buy an investment home in London as well as advise on any issues related to the process of buying real estate in the UK capital.
Property for sale in London, UK
Foreigners can buy property in London without any restrictions. There are two common options:
- Freehold property. In this case, you fully own the land as well as the property that stands on it.
- Long-term tenancy or leasehold property. This is a long-term rental property with the right to extend the lease term. This form of ownership is very popular in the UK. Most apartments are sold on leasehold. Lease terms can range from 21 years to 999 years.
To select a quality property and form of ownership, it is best to contact our real estate specialists, who will help you make the best choice based on your goals.
Popular boroughs (areas)
Choosing a location where to buy property in London is a important task. To make the right choice and be satisfied with the purchase, you should consider the location factor.
If you want to live in the thick of things, central London is a great option. The two prestigious areas in this part of the city are Knightsbridge and Belgravia. The average cost of real estate in London, England, UK in these areas is as high as €3,884,817 and €3,980,952 respectively.
Known for its magnificent views of the river, South London is a great option for young professionals and families. Neighborhoods such as Clapham and Dulwich Village have terraced houses, river view apartments and remodeled apartments. Average London property prices in these areas are €988,742 and €1,594,755 respectively.
In recent years, West London has seen a significant rise in house prices. Districts such as Hammersmith and Fulham offer the best options for real estate investment. The average cost of housing in these areas reaches €1,123,285 and €1,594,724 respectively.
Property types and prices in London
The average cost of real estate in London at the end of the first half of 2022 was €614,847. However, prices are highly dependent on the type of property the buyer chooses. Below are the main types of property in the UK capital.
Flat
An apartment is the most common type of property in the UK. London’s market offers studio units as well as apartments with one to seven bedrooms; sometimes exclusive apartments with nine or more bedrooms are available. The average cost of an apartment in London is €510,977.
Terraced house
These houses are also called townhouses. They adjoin each other on both sides and are built in one line, respectively, their adjacent territory is smaller than that of detached ones. Compared to detached houses, the average cost of such units is lower - €675,106.
Duplex
In Britain, duplexes are called twin or semi-detached houses. This is a house with two identical apartments with separate entrances. Duplexes are more expensive than terraced houses with the average price of €793,630.
Detached house
A detached house can technically also be called a private house. Since such buildings are not interconnected, they have more space for organizing the yard area. The average price reaches €1,234,542.
Investment property in London
London is not only the capital of the United Kingdom, but also a multicultural metropolis with residents speaking more than 300 languages. This is one of the most technologically advanced cities in the world, which is why more and more people choose to live there. The demand for housing here is always high due to the growing population, making investing in real estate in London a smart choice. The cost of housing in the city is constantly growing. For example, in August 2022 it increased by 8.8% compared to the same month last year.
Renting out houses and apartments in London brings a stable income, which is primarily due to high demand. The average annual rental yield (return on investment, ROI) in the British capital is 3.6%, but the figure varies depending on the area. Thus, ROI in the borough of Barking and Dagenham is 5.5%, in Newham - 4.9% while in the City - 2.9%.
We will help you buy property in London
Our website offers a collection of the latest property deals from verified developers in London and owners. Here you will find detailed descriptions and photos of real estate, as well as real-time prices in dollars and euros. Leave your enquiry on our website and we will guide you through the best options matching your goals as well as provide professional assistance when buying a home.
