Last month the London area experienced an increase in property investment activity after a long five months of stagnation. Perhaps this is the beginning of a renewed interest in foreigners seeking to make real estate investments, which would make the owners of luxurious residential properties very happy.
It seems that Britain’s residential property market is a booming market right now. With countries such as Greece, Ireland, Portugal, and Eastern Europe experiencing a debt crisis, investors are eyeing London and seem to have increased confidence in the investment potential and significant rate of return of British properties.
According to Knight Frank, November saw a greater demand for luxury property but the amount of properties decreased, creating a competitive edge among real estate investors. It seems that now is the time to get an affordable investment.
A 9 percent increase in residential property values increased in November for homes that cost one million pounds or more. Growth has been evident all year with an 11 percent increase in luxury property prices, tempting investors to capitalize on the stable and growing property market.
It has been reported that there was a 23 percent increase in the amount of continental Europeans who were interested in buying residential properties in London since last year. Out of all the purchases in Central London, 60 percent of the buyers were foreign investors. With prices remaining at 14 percent lower than the last time they peaked before the financial crisis, it is no surprise that overseas investment in the London area is so popular this year.
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