London is one of the world’s leading financial centers for international businesses.
This very diverse city is also one of the fashion capitals of the world.
It is one of the top cultural hubs in the UK and its property values are promising. If you’re an investor considering property investment, consider buying a property in London.
If you’re still not convinced that this is a good place to make such a large investment, then you’ve come to the right place.
Here are two reasons why you should consider buying a property in London and how you can start investing by hiring a property sourcing agency.
1. London has a Strong Economy
London is booming in several industries to the extent that the city generates nearly 22% of the UK’s GDP. It is also one of the most populous cities in the UK attracting visitors from around the world.
London thrives in the following industries:
- Service industries
This combination of industries works together to make London the robust city that it is. This is why there is such a high population which leads to a demand for housing.
The high number of people who study abroad in London also make rental properties highly profitable.
London has business districts like Westminster, Canary Wharf, The City, Lambeth & Southwark among others. These locations are home to top businesses in media, finance, and even government agencies.
The proximity to these powerful locations is the reason property values rise in London. This city is a safe bet for investors because of its influential hand in the economic stability of the UK.
2. London has a High Demand
There is a growing demand for residential properties because of the undersupply people are currently facing.
Residential undersupply is what’s driving the property market forward right now.
This presents unique opportunities for investors to fill in the gap and ensure that they invest while the demand is still high.
This undersupply is not great for citizens looking for housing, but it is an excellent financial opportunity for investors looking to purchase properties.
Hence, property values are high and the return on investment is quite promising.
This residential undersupply is causing rental property rates to rise. Even the regeneration in London leads to a price increase.
With this competitive environment in the market, rental prices increase and provide great opportunities for investors.
According to the UK Property Market Forecast, there could be an increase in rental prices by 11.5% in the next four years.
How to Buy Property in London
Consider these two words: property sourcing.
If you decide to invest in property in London, you’ll need to hire a property sourcing agent, or a property sourcing agency to ensure that you make the best purchase decision possible.
The housing market is complex and not everyone has the time or capability to conduct extensive research and negotiate deals.
If you hire a property sourcing agency, you’ll leave them to do the heavy lifting. They’ll walk you through the process of purchasing property and advise you on the best properties to invest in for the highest ROI.
If you’re interested in a property sourcing agency in London, Pearl lemon Properties can guide you through that process.
Make sure that you put your best foot forward when it comes to a big commitment like property investment!