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A noticeable ‘buzz’ in London as young professionals and students return.
Despite the end of the stamp duty holiday, LCP have been busy spotting the best opportunities for overseas buyers to buy sight unseen. 40% of LCP’s active clients are based in Hong Kong, looking to take advantage of discounted prices and a lack of overseas competition. Bayswater and Pimlico have been popular as both benefit from attractive pricing, central locations and significant new developments along Queensway and within Victoria.
LCP are currently finalising three renovation projects across prime London for homeowners and buy-to-let investors. An unmodernised flat in Pimlico, where our projects team managed the entire design and refurbishment, resulted in the property being let after only 2 viewings. To arrange a consultation or to find out more about LCP’s refurbishment service, please do get in touch or visit our website.
The prime London lettings market has been bustling over the late summer with tenants returning to London for work or study. 47% of new tenants in July and August were from the finance sector. London remains attractive to EU nationals who make up 45% of LCP’s current tenant base. Our lettings data is particularly encouraging given that international travel restrictions remain in place.
Andrew Weir, CEO, was joined by an expert panel from Dubai & London for a live discussion on HNW individuals from the Middle East considering investing or moving to London & the UK. If you were unable to attend, you can watch a recorded version here. Andrew also spoke to Bloomberg radio about the prime London lettings market and featured on property developer Nicole Bremner’s podcast “What’s next for property in PCL.” Click here to see LCP’s recent coverage.
A common misconception is that London is quiet and therefore buyers can easily find a ‘good deal’. The prime London property market is nuanced as real estate is ‘tightly held’ during times of price suppression. When prices soften through lack of the usual demand, sellers become less inclined to openly market their home. Lack of stock is the main issue for buyers seeking either a new home or rental investment. This complex environment is when a buying agent comes into their own, a trusted set of eyes and ears on the ground who can source the best opportunities, many of which are not readily available on the open market. To discuss the best investment opportunities currently in prime London, please do get in touch.
The LCP team has over 150 years of combined experience in the prime Central London property market. Our team’s detailed knowledge and experience is invaluable to those buying, investing, refurbishing, letting and managing a property in this competitive market. If you would like to chat and discuss your property requirements with one of LCP’s senior members, please use our form and we will be in touch.
