BUYERS LOOKING AT LONDON’S LUXURY REAL ESTATE MARKET IN 2021

BUYERS LOOKING AT LONDON’S LUXURY REAL ESTATE MARKET IN 2021

While 2020 was a year filled with uncertainty over Covid-19 and Brexit, investors can rely on the continued success of the London luxury real estate market in 2021.

Developers are hoping to cash in on this expected property boom by releasing high-end homes across the capital. From Tower Bridge to Battersea Power Station, 2021 will see the rise of brand-new penthouses and apartments.

Fast start to 2021

With a Brexit deal all signed and sealed, the brakes will well and truly be off the prime London property market in the early months of 2021.

Foreign buyers will also be flocking to complete purchases before the introduction of the 2% stamp duty surcharge for non-UK buyers. The savings available on early deals could be substantial, as much as seven figures for properties above £35 million.

Healthy competition

Although overseas investors might not be able to travel into the UK in the early months of 2021, there are enough wealthy UK buyers to get the luxury London real estate market moving.

Fearing that prices might rocket during the latter half of 2021, people seeking to upgrade their property will be moving fast which will likely see a spike in demand for larger houses. The market for homes in excess of £10 million is already strong and is set to become super competitive.

Return to the office

The Covid-19 lockdowns saw City workers ditch their desks for their home offices. While many stayed nearby in the Home Counties, others took the opportunity to escape to their country retreats.

With the rollout of the vaccines, experts predict that workers will flood back to the City to pursue their careers. This will prompt the return of overseas property investors to prime central locations such as Regent’s Park and Mayfair, which have seen a dip in prices over the past few years.

Others might wish to keep their weekend properties, while investing in a luxury apartment in the heart of London. Developers have been tapping into this trend with top-end developments springing up across the capital.

Easter promise

One area worth watching out for is East London. Once known for its docks and industry, this popular patch of London has a youthful vibe and is perfectly located for City workers and those travelling in from their second homes on the Suffolk coast.

East London is also home to plenty of creative and technology businesses, which has created stiff competition for plush apartments costing more than £750,000.

Conclusion

London is a centre for culture, education and financial services, making it one of the world’s most desirable cities. Investing in luxury London real estate has never been more appealing, as no other city in the world has the blend of prestigious postcodes, top schools and desirable shopping areas.

Property management

Once you have bought your perfect London property, you then need to ensure it is maintained to a high standard. There might also be some repairs or alterations you need to make before you decide to move in or rent it out.

Put your precious investment in the hands of a professional property maintenance company who can ensure all the necessary safety checks are carried out. From servicing a boiler to treating areas of damp, don’t let a minor issue develop into a serious, and more expensive, problem.

The experienced team at Top Household Management have a history of working with luxury private households in London and around the world. We know how to cover every detail that goes into a well-functioning home, tailoring our day-to-day residential property management to provide peace of mind and ensure the highest of standards are always maintained.

© 2021, Top Household Management Ltd

While 2020 was a year filled with uncertainty over Covid-19 and Brexit, investors can rely on the continued success of the London luxury real estate market in 2021.

Developers are hoping to cash in on this expected property boom by releasing high-end homes across the capital. From Tower Bridge to Battersea Power Station, 2021 will see the rise of brand-new penthouses and apartments.

Fast start to 2021

With a Brexit deal all signed and sealed, the brakes will well and truly be off the prime London property market in the early months of 2021.

Foreign buyers will also be flocking to complete purchases before the introduction of the 2% stamp duty surcharge for non-UK buyers. The savings available on early deals could be substantial, as much as seven figures for properties above £35 million.

Healthy competition

Although overseas investors might not be able to travel into the UK in the early months of 2021, there are enough wealthy UK buyers to get the luxury London real estate market moving.

Fearing that prices might rocket during the latter half of 2021, people seeking to upgrade their property will be moving fast which will likely see a spike in demand for larger houses. The market for homes in excess of £10 million is already strong and is set to become super competitive.

Return to the office

The Covid-19 lockdowns saw City workers ditch their desks for their home offices. While many stayed nearby in the Home Counties, others took the opportunity to escape to their country retreats.

With the rollout of the vaccines, experts predict that workers will flood back to the City to pursue their careers. This will prompt the return of overseas property investors to prime central locations such as Regent’s Park and Mayfair, which have seen a dip in prices over the past few years.

Others might wish to keep their weekend properties, while investing in a luxury apartment in the heart of London. Developers have been tapping into this trend with top-end developments springing up across the capital.

Easter promise

One area worth watching out for is East London. Once known for its docks and industry, this popular patch of London has a youthful vibe and is perfectly located for City workers and those travelling in from their second homes on the Suffolk coast.

East London is also home to plenty of creative and technology businesses, which has created stiff competition for plush apartments costing more than £750,000.

Conclusion

London is a centre for culture, education and financial services, making it one of the world’s most desirable cities. Investing in luxury London real estate has never been more appealing, as no other city in the world has the blend of prestigious postcodes, top schools and desirable shopping areas.

Property management

Once you have bought your perfect London property, you then need to ensure it is maintained to a high standard. There might also be some repairs or alterations you need to make before you decide to move in or rent it out.

Put your precious investment in the hands of a professional property maintenance company who can ensure all the necessary safety checks are carried out. From servicing a boiler to treating areas of damp, don’t let a minor issue develop into a serious, and more expensive, problem.

The experienced team at Top Household Management have a history of working with luxury private households in London and around the world. We know how to cover every detail that goes into a well-functioning home, tailoring our day-to-day residential property management to provide peace of mind and ensure the highest of standards are always maintained.

© 2021, Top Household Management Ltd