In 2020 we wrote a blog about the impact the Covid-19 pandemic had had on the UK property market. At the time investors from overseas were more interested in buying in the UK than ever before. However, instead of just investing in one apartment in a prime London location, we saw purchases of multiple properties across developing boroughs such as Stratford, Harrow, and Canning Town.
Four years on, and after a buoyant few years for the property market, we’re now seeing the market change once again. International investors – primarily from Asia and the Middle East - are once again interested in buying property in Prime Central London (PCL) locations.
This shift in behaviour is likely to be due to several reasons. One being a possible reverse on the ‘race for space’. Investors know renters are looking to return to London after impulsively moving out of the capital during the pandemic, and those that have moved out want a weekday base to avoid long commutes.
As Property Wire reported ‘the number of new prospective buyers in London rose by 12% between August and September’[1] in 2023.
High-net-worth investors who buy PCL property are also used to an unpredictable market due to high inflation and political uncertainty. Yet, they still believe London is a secure and safe location for investment.
This is because the mix of high levels of identity protection compared to other countries, a stable currency, and a democratic government, combined with being one of the world’s most well-known cities make for long-term safety and security for property investors.
Many of these purchasers are cash buyers, which in the current economic state of high-interest rate mortgages works in their favour, and developers across PCL are willing to negotiate on costs to ensure smooth and speedy sales – it’s a win-win for everyone involved. In August last year, JLL’s Prime Central London Report[2] revealed 71% of properties sold in London were purchased with cash.
Our Group Sales Director, Samuel Lewis-Clinton, says: “During the height of the pandemic I found that international investors would club together to buy a bulk of properties in zones 3-6, sometimes even further out. But now it seems there is more demand than ever for those ‘trophy’ London properties which will rent or sell quickly at a very high value.”
And to achieve those high yields investors are turning to us to provide them with fully furnished apartments. Our range of INVESTA Prime collections offers curated furniture collections for PCL properties and high-end investments. We have considered every detail to provide luxurious finishes to suit the most prestigious residences and clients. You can see the full collections here.
Samuel says: “We introduced our INVESTA Prime furniture collections for our most exclusive clients who want luxury and quality, but not an eight-week wait time.”
London is, and always will, offer some of the most attractive property in the world, and we’re incredibly proud of the part we play in it.
To find out more visit www.investa-london.co.uk
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