London is to host the 2012 Olympics, and this is opening up a whole new list of reasons to invest in the city, as well as hotspots in which to make that investment.
Prime central London will always be up there as one of the top hotspots for London property investment, with prime properties in the region appreciating fastest in high times, and seeing continued stability and growth in low times. For example, during the recent downturn house prices in national averages began growing in mid-2009 but have had a volatile time throughout the last 12 months. In central London house prices have grown consistently since the middle of 2009.
Here are some of the places where we recommend for property investment London.
Chelsea and Kensington
Right now wealthy people from around the world are snapping up investment property in London by the bucket load, and Chelsea and Kensington are certainly two of their favourites. Qatari Diar bought the Chelsea Barracks in 2008, but after a legal battle was finally given the go-ahead to redevelop the site in June this year.
East London Tech City
This is a big one. Canary Wharf has always been a solid bet for commercial property investment, but it is to become an even bigger hotspot for investment properties in London. West and Central London have always been the real hotspots, but this will put East London onto the investment map. In a statement about the redevelopment London Mayor Boris Johnston said:
"In the nineteenth century the wharfs and warehouses of east London were the epicentre for world trade. Virtually every commodity was traded in and transported from our city to markets far and wide.
"Today London is at the forefront of the high tech revolution. But we can and must do more to cement our position as a global magnet for the new talent that meets the needs and harness the opportunities of the 21 century. In the outstanding space and infrastructure offered by the London 2012 Media Centre, the Olympic and Paralympic Games will bequeath to London a vibrant new business quarter in the east of our city. We must do everything we can to support its development as one of the UK's leading hubs for businesses exploiting the digital and creative markets.
"We are already doing a lot to support this new economy, from making reams of city data freely available to London's technical talent for transformation into apps, websites or mobile products, to piloting public Wi-Fi on London Underground."
*This page is provided for information purposes only and should not be construed as offering advice. IPIN is not licensed to give financial advice and all information provided by IPIN regarding real estate should never be treated as specific advice or regulations. This is standard practice with property investment companies as the purchase of property as an investment is not regulated by the UK or other Financial Services Authorities.