Off-plan property in London
Real estate in London is an affordable opportunity to save money from inflation, make a profit or purchase housing for permanent residence in one of the most popular megacities of the planet. Off-plan property in London, England, United Kingdom, can be found in many areas of the city.
The purchase of off-plan property at a developer's price in London opens up the prospect of generating income in the foreseeable future. Housing can be resold more expensive or rented out. Construction companies in London do not restrict foreign owners in the right to dispose of housing stock at their discretion. The apartment can be resold without waiting for the end of the development. Since the prices are the most favorable at the start of sales, even in this case, the profit is real. Annual price increases automatically increase the cost of housing in off-plan projects by the time of its delivery. The analysis of the British market says that in the last decade housing has become more expensive by an average of 10% per year.
Real estate prices in new buildings under construction in London
The cost of off-plan property directly depends on the location and area. In the central communities of the metropolis, prices are the highest. In other areas, an apartment can be purchased cheaper. Several current sales offers are listed below:
- In Kensington, it is not always easy to find off-plan property from a developer, since the territory is dominated by low-rise buildings of the middle of the last century. It causes quite high prices. For example, a one-bedroom apartment in a new Riverstone building, which is scheduled for delivery in the 3rd quarter of 2023, is offered for €1.3 million.
- In King Cross, a one-bedroom apartment in a new Cadence building, for rent in the 4th quarter of 2022, is for sale for €705,000.
- In Westminster, Abell & Cleland - Abell House one-bedroom apartments for sale for €2.07 million.
Off-plan property for investment in London
Off-plan property at the developer's price is the optimal format for investment. It is in traditional demand, so even against the background of capitalization of value, there are no difficulties with liquidity. Having bought a property in a residential complex at the excavation stage in London, in the future you can make a significant profit. Advantages of investing in housing stock at the initial stage of development:
- Convenient payment format. Usually, the buyer makes a deposit of 10-13% of the cost. The remaining payments are made in accordance with the agreed plan. Most of the cost is paid at the time of delivery of the property.
- Possibility of purchase in installments. Many developers sell real estate from a developer in London with interest-free installments.
Expats can also buy housing in a new building under construction in London with the involvement of mortgage funds. Banks issue loans not only to local citizens, but also to non-residents of the country.
Advantages of buying a property in new buildings in London
When buying an apartment in an unfinished new building, the future owner can choose the desired type of layout and type of finishing materials, which allows you to get housing with a pronounced personality. Modern residential complexes provide residents with a wide range of amenities, including sports and playgrounds, landscaped gardens, recreation areas, equipped fitness clubs. Owners can use individual parking spaces, concierge service. The old housing stock does not provide such opportunities.
Most of the houses are built on rented land, since according to the laws of Great Britain it can only belong to the Royal House. The practice of leasehold, that is, long-term lease, is common in London. Lease terms can be different, most often in new buildings this period reaches 125 years. Those who buy housing at the excavation stage are automatically insured against the need to incur additional costs that are unavoidable when extending the lease term for the land plot under the house.
Transactions for the purchase of housing under construction are completely safe. The National Housing Commission gives a ten-year quality guarantee for each rental property. The apartments are rented ready to move in. They are equipped with the necessary plumbing and household appliances in the kitchens. In the latter case, making a decision usually takes more time
Our assistance in buying off-plan property in London
The site contains current ads from developers and local real estate agencies. The search system is adapted to the independent study of the pricing policy of the market. You can set up filters and select an object by property type, location, price in euros and dollars. Experts are ready to advise on the choice and help to buy an apartment in London. To get a consultation, it is enough to fill out the feedback form.