Why Haven’t London Property Prices Gone Down?
Earlier this year, many property analysts predicted that London property prices would drop.
They had valid reasons, at least on paper, to justify those claims.
The Brexit fall out, the election uncertainty and the current pandemic are staggering events that can potentially topple the property market.
But despite a few wobbles along the way, London property prices have stood firm. Especially those in Central London.
So how has London property prices remained robust, while other property markets around the world are suffering?
And more importantly, is it worth investing in such a strong property market now?
Read this article to find out!
Traditionally, London has always been one of the world’s premier property hotspots.
It’s safe, culturally diverse, economically sound, undergoing regeneration and full of investment potential.
This status has been further enhanced because of the current pandemic.
With the current unstable situation in America, London has emerged as the undisputed choice for foreign property investors, especially those from China and Hong Kong.
Many of them are seeking a stable market to invest in, in order to safeguard their money.
London is their preferred choice, not only for the living conditions but also the more “hidden” aspects of buying a property.
Transactions are legally transparent, financial assistance is easily obtained, bank interest rates are low and the recent stamp duty holiday rates make London arguably the most investable property market in the world right now.
These factors have proved too good to resist for Far East investors, which has resulted in a sizable increase in foreign purchases over the last few months.
This influx of foreign money into London property is a major factor why prices have remained competitive, even when most other markets are struggling.
There’s a reason we decided to publish this article now.
Recently, it was announced that a stamp duty holiday will be put in place for all property buyers effective immediately, till 31 March 2021.
The tax band for a London property between £125,000 and £500,000 is now capped at 3%, a significant drop from the previous 5%-8%.
On average, buyers can now save around £15,000 for a £500,000 property purchase before 31 March 2021.
So despite competitive prices, investors can still snag a London property on a discount, provided that the purchase is made before the expiration of the stamp duty holiday rate.
One particular London project stands out among the rest.
Newham’s Yard has everything an investor is looking for: high potential appreciation, strategic location and attraction to tenants.
Sitting pretty in close proximity to landmarks like Tower Bridge, The Shard, London City Hall, the central financial district and King’s College, Newham’s Yard is poised to be a huge draw for tenants from all walks of life.
Best of all, its price point makes it eligible for stamp duty holiday rates.
Which means that investors can secure this top notch property at a discounted rate, if fast action is taken before 31 March 2021!
So are you interested to find out more about Newham’s Yard?
Let us help you analyze your current portfolio, and explain how Newham’s Yard can accelerate the fulfilling of all of your investment goals.
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