Apartments for sale in London
When it comes to property in London, this city occupies one of the leading positions in the list of the most popular cities in the world. An apartment in London for foreigners is not only an opportunity to get the status of a wealthy person and enjoy the world cultural heritage. It also allows you to get a stable income.
Apartments for sale in London, England, UK are notoriously known to be highly expensive property. However, not only millionaires live there. There is a middle class in every country. Even with a modest budget, you can buy an apartment in the heart of the UK. But you should keep in mind that the cost of apartments in London will be much higher than in other major cities in the world. Even modest-sized apartments are often sold at prices over €100,000.
The metropolis can be divided into six zones, which are connected with their own metro lines. The main part is Central London. Two more areas are suburban, it takes at least an hour to get from them to the city center. Each part of the city is divided into boroughs. Popular boroughs are Greenwich, Enfield, Kensington, Westminster, Hammersmith, Hampstead and Islington. You can find high-quality housing in all parts of the city. The highest property rates are observed in the central parts of the city such as Westminster, Mayfair and the City.
Lifestyle in London
Although the famous metropolis may seem stiff and cold with endless rain for most of nationals from other countries, its climate has its pros. For instance, the winter is short and mild with the spring starting in early February. Summer will be a perfect option for those who do not like high temperatures as it is warm but not too hot. In addition, in an hour you can get by train to the coast of the English Channel and visit the resort of Brighton. The city has an famously vibrant cultural life with plenty of exhibitions, concerts and sports events.
The population is international, which allows expats from any country feel comfortable and explore other cultures.
The local lifestyle allows you to find something of your own regardless of your age and gender. There are many free, open to the public museums in the city. It also features many parks and green areas perfect for walking. Young professionals are offered wide opportunities in developing professional skills. In the IT sector, nationals of all countries can find work they would enjoy. Families with children are able to find schools that provide a high level of education. Expats say that even a poor knowledge of English is not an obstacle when enrolling to the school. Children are immersed in the language environment and after a few months they are fluent in English. Retirees have access to quality health care and social service.
Buying real estate does not allow you to apply for a residence permit, but it simplifies the process of obtaining a multivisa. Investors who have invested money in the country's economy such as assets and securities of the Bank of England can apply for a residence permit.
Apartment prices in London
There are no cheap flats in London. First you need to assess your opportunities. The city is quite expensive, but not inaccessible. You can buy a flat in London for investment or for relocation. The cost of housing largely depends on a number of factors:
- Proximity to the center
- The size and number of rooms;
The apartment prices start from €300,000. But this is a minimum price tag for a small resale property. One-bedroom apartments in Ealing, Colindale can be purchased within €300,000-€400,000. The price of new units is several times higher. In an off-plan project in the Finsbury Park metro area, a two-bedroom apartment can be bought at the price of €782,000. The project is scheduled to be completed in a year. Ready-to-move-in two-bedroom apartments in central London are sold for €920,000 and more. The type of property is one of the most important factors. For instance, penthouses are priced at €5 million and more. A house in London can be bought at a price of €6.5 million. The upper threshold reaches double digits. Prices for mansions go as high as €90 million.
The peculiarity of local legislation is that the land in the UK belongs to the king. The rest have the right to use it on a lease basis. The owner of leasehold housing buys property and gets a lease agreement for the land plot where it is located. The terms of the contract can vary, there are no restrictions on the contract duration. This is a generally accepted scheme for buying housing in London and most of the apartments are leasehold options. As a rule, a low property price means that the lease term is coming to an end. When it is extended, the owner has to pay for the entire term of the contract at once. You should pay attention to this fact when buying an apartment.
Investment apartments in London
Many property hunters consider housing in the metropolis as a great investment solution. Investing in an apartment in London is profitable due to the capitalization of its cost. It can be an off-plan unit or an already commissioned and ready for living option. The most profitable solution is invest in new off-plan projects:
- In most cases, the buyer pays only 10-30% of the cost when buying a flat at the early stage of construction. The rest of the payments are made at the time of delivery of the house.
- The average annual growth in prices for residential properties in London is about 10%. It means that by the end of construction, the property will have become more expensive.
The National Housing Commission gives a ten-year warranty on every home sold. The apartments are handed over to the tenants ready to move in, with an equipped kitchen and a bathroom.
Another reason to buy an apartment in London is stability. No matter what cataclysms shake the world, even the economic crisis does not influence the prices of the city's housing market. No wonder wealthy people from all over the world invest in local housing stock. It is difficult to find a millionaire who does not have apartments in the capital of Great Britain. But this does not mean that property in the capital is available only to wealthy buyers. On the market you can find different types of real estate, not only related to the premium class.
We will help you buy an apartment in London
Our website offers an exclusive selection of new apartments from top developers in London as well as resale options. With our search filters, you can find your ideal home in no time. You search by type of property, its size, cost and many other factors. The prices are given in euros and dollars. Our platform also provides up-to-date home sales statistics and answers to the most common questions from future home buyers. Our experts are ready to guide your through the best offers and help you with paperwork. Get in touch with our team today to get more information.