If you’re thinking about buying a property in the UK, now is the time to do it. London properties are the most expensive properties in the world, according to real estate site, Nestpick, and although some might think that this isn’t an attractive proposition, there are many reasons why now could be the best time to invest in them, if you have enough money to play with. Here are just five reasons why now could be the best time to invest in London properties.
London’s economy is expected to grow by 1.8% this year, more than double any other major European city. This means that there’s increased demand for housing and office space across all sectors, fueling growth for developers and investors alike. In addition, with interest rates at a historic low of 0.5%, mortgage repayments are lower than ever before.
Home ownership rates are decreasing
While home ownership rates are decreasing, rental prices are increasing. If you’re looking for a stable investment, consider buying property in one of London’s boroughs. The average purchase price for a four bedroom house is £1.4m ($1.8m).
Foreign investors like you…
London is one of the most international cities in the world and has a thriving economy. The UK’s decision to leave the European Union has left some uncertainty in its wake, but that hasn’t stopped people from investing. What was once thought of as a risky investment opportunity is now becoming more attractive than ever.
Inflation will increase your property value
Inflation is on its way up, and as it does, your property will increase in value. As inflation increases, so does the demand for goods and services—which means that your property will be more desirable. Furthermore, when inflation goes up, interest rates go down. This means that you’ll be able to get a better mortgage at a lower rate of interest. All of this translates into one thing: higher profits!
Ayana Properties is a top-tier UK estate agency with offices in the Middle East, Africa, and India. Its award-winning and highly skilled staff provides professional guidance on purchasing, investing in, and managing real estate in London, Manchester, Birmingham, and other parts of the UK.