Property in London: investments are here
(European News)
London remains for investors to be one of the most attractive real estate markets of the world. According to the CB Richard Ellis agency the total volume of prospective investments in the UK real estate objects is now accounted for about 7.5 billion pounds. 70% of them are accounted for London.
Despite the fact that the housing market in Britain is still unstable, London retains the status of a "paradise for developers". Dozens of investment funds invest in local real estate. The structure of investments is following: the share of premium real estate in central London accounts for about 2.5 billion pounds of investments. Builders in the outlying areas could potentially attract up to 2.8 billion. In total it can be amounted for 9500 homes, which can be built in London.
It is worth noting that only in the last quarter of 2010 the amount of potential investments in London real estate was close to one billion pounds.
Among the investors willing to invest in housing in London dominate British and American investment funds.
London property market remains one of the most popular among world capitals. This is particularly evident in the luxury real estate segment. According to the British newspaper The Telegraph, citizens of 61 countries invested in expensive real estate in London.
The structure of luxury real estate offers in London today is characterized by a large number of proposals for homes in Britain's capital at a price of £5 million. In total, they account for 64% of the total number of proposals. In February 2011 prices in this niche increased by 1%.
By the end of 2010 the most expensive street in London was Victoria Road in the western part of the city. Apartments in one of the local mansions will cost on average 6.4 million pounds, according to the Russian Service BBC.
Date: 02/03/2011
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