Whether you're an experienced property investor or simply someone who's looking to buy a home in the area, London has always had an enduring appeal in the property market. However, as house prices across Britain have continued to rise over the last couple of years, there has been a lack of investment in the London property market; the result is that now, a buyer's market exists in London, with the tactical property investor expecting returns of 6.5% to 7%.
According to property experts there are numerous London property hotspots - and now is the time to take advantage of them. Fulham, Notting Hill and Pimlico, for instance, have recently seen their properties drop in price; the market in these areas, however, is now recovering. And as the house market in these already well-established areas begins to revive, other areas in London which are not traditional property hotspots have also begun to pick up. For example, Peckham used to be the second most-deprived Local Authority in England; however, thanks to a £300 million mix of government and private investment, Peckham won an award in 2003 for local tourism initiatives. The scheme resulted in 2000 newly created homes in Peckham and the area has attracted a higher number of retail shops. As a result, it is now one of the best places for property investment in London.
As the city gears up for the 2012 Olympic Games, London authorities have been gathering funds for increasing investment in London's East End. However, even before the 2005 announcement, areas of East London and Stratford were benefiting from substantial government investment, making the region one of the city's prime property hotspots. Prices have been rising steadily, and redevelopment plans mean that these areas of London are fast becoming some of the capital's most desirable places to live.
Other redevelopment programmes are occurring across London; Elephant and Castle, for example, has been absorbing the effects of inward-investment and is another emerging London property hotspot. While people wanting to invest in property for sale in London may see a golden opportunity in the current property market, it is important not to get carried away by the lure of a profitable investment; buyers must ฝากขายคอนโด have patience as it can often take anywhere from 15 to 20 years to realise a decent return on your investment.
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