As we head into 2020, London looks set to remain a great place to own a holiday home with or without the EU.
London has long been Europe’s most sought after international property market. Foreign buyers have flocked to the UK’s capital for years. Even during times of changing legislation, a fluctuating Pound, and Brexit, buyers haven’t been as drastically put off as one might have thought. If anything, the last several months have seen developers and agencies selling London property overseas doing especially well. This can be owed to many things including civil unrest in Hong Kong and favourable exchange rates, but it just goes to show you how London still attracts buyers.
Recent information released by LonRes showed that there has been an upswing in London’s most expensive neighbourhoods over the third quarter. Areas which throughout the last couple of years, had been in the weaker end of the market. This includes neighbourhoods such as Belgravia, Knightsbridge, and Mayfair.
While we wait for Brexit to actually take place, another area that will affect the capital’s property market is a stamp duty cut. London makes up 38 per cent of the stamp duty revenue in the UK. The current prime minister has hinted at removing stamp duty on properties valued over GBP 500,000, however, this has yet to occur. If it does, it will have a major impact on London where a substantial number of properties are valued far higher than this.
Headline transaction levels across the country remain relatively resilient – political uncertainty has been offset by ultra-low mortgage rates and a robust employment market. Any political clarity could trigger additional activity in the market – Gráinne Gilmore, Head of UK Residential Research, Knight Frank, UK.
If you are looking to holiday in London and have always longed for a permanent residence there, then there has never been a better time to shop the market. Provided you have a relatively substantial budget, there is no shortage of properties offering something for everyone throughout the city. Here are a few examples of what’s currently on the market.
London has some dark expectations to tackle: The Euro crisis, rollercoaster financial markets and the rise of populist politics. In addition, a digital revolution has transformed London’s economy with tech disruption changing everything from how we hail a taxi to how we occupy offices. A key feature of the last decade has been an unsettling change. It is, however, change that has paid dividends for those agile enough to adapt. London has proved particularly adept at transforming itself to meet the demands of the new era. The city is so adaptable and examines the next wave of changes to come. What is certain is that the next ten years of change will create new opportunities in the London real estate market – William Beardmore-Gray, Head of London Offices, Knight Frank, UK.
Situated in beautiful Richmond upon the Thames, CDL’s luxurious Teddington Riverside development is luxurious London living, offering idyllic surroundings with waterfront views and parks galore. Richmond is one of the unique places in London where you can feel like you’re in the countryside while only being a short train ride from Central London. As such, it’s a great base to have a holiday home in London.
Teddington Riverside is also a short drive from both Richmond upon Thames High Street, as well as Kingston upon the Thames. Both of which offer plenty of shopping and restaurants, along with supermarkets, bars, and the theatre. You’ll also find a wide selection of schools, including internationally recognised universities, such as Kingston University and The American International University.
There are one-, two- and three-bedroom apartments available at Teddington Riverside. Inside each unit, expect exquisite craftsmanship and state-of-the-art technology. From underfloor heating to Bianco stone worktops and Siemens appliances, every home has the potential to be a showhome.
Price: GBP 670,000 (USD 863,000)
Tottenham Court Road West
New Central London apartment buildings don’t come along every day. If you add excellent shopping and transport options, then they’re even harder to come by. Tottenham Court Road West (TCRW) by Galliard Homes, is set to deliver everything one could want in a London holiday home.
Situated above the western ticket hall of the new Crossrail station at Tottenham Court Road, TCRW fronts Oxford Street and Dean Street. Such an excellent location means that you can pretty much walk to most of the city’s prime destinations, as well as reach mainline train stations and international airports with relative ease. Such are the luxuries of owning a home in Central London.
The exterior façade with features an array of colours and materials which enable it to complement its surrounding neighbourhood and produce a sense of occasion before you even enter the main entrance. When complete, TCRW will boast 81 luxurious apartments arranged in studio, 1-, 2-, and 3-bedroom layouts. This will be further complemented by range-topping penthouses.
Interior designers Argent Design have worked hard to ensure that luxury and technology go hand in hand. Each apartment features luxurious materials including marble and natural oak, along with products from renowned company’s such as Geberit. With such complementing aspects of interior design, you may not want to leave your living room the entire holiday. Read more about the property here.
Price on application