A View on Real Estates in London

A study recently revealed that London's real estate market is currently at its most expensive. Huntly Hooper, a real estate agency, stated that central London has approximately $27 billion in properties, with 14 apartments and houses priced between $80 million and $400 million. It is possible that the value of those homes could be even higher. Peter Wetherell (Managing director of Wetherell) thinks that this trend is due to the exponential growth in the financial buying power of 5% of the world's wealthiest. They are able to purchase companies and assets at discounted prices, and started to benefit when the global market recovered. According to David Adams of John Taylor estate agents, homes that are priced £50 million and above can be found in three districts: Mayfair, Knightsbridge, and Belgravia. There are areas in Kensington and the prime street of North London (Avenue Road, St. John's Wood and Bishop's Avenue, Hampstead) commanding that price, as well as some large properties in Cornwall Terrace, Regent's Park and One Hyde Park, Knightsbridge.

Central London properties continue to be excellent long-term investments, but they certainly seem to be reserved only for the world's wealthiest. Properties turn into a global reserve currency; rich people pay for them and expect a 10% yearly return.

The good news is that you don't have to be filthy rich to live in London.  Britain's Office for National Statistics shared that the prices of properties in surrounding suburbs only rose 2.6% and remain to be affordable. The farther you go from Central London, the lower the prices should be. With a qualified real estate agent, you might find a reasonably priced apartment for rent or for sale in some of the city's best areas—not necessarily in central London, but just a few minutes away.