London calling and thai investors with big wallets ready to answer
Well off locals are among the many foreigners looking to acquire prime residential properties in the British capital, but in general they lack adequate market information to be able to identify the best opportunities
London is consolidating its position as the world's number one super-prime residential market and emerging as a secured investment option for those with very deep pockets. The city's property market has always been seen as a safe haven for international investors, but now it is increasingly so with buyers from Europe, Asia and the Middle East seeking the best properties. The resilience of the prime central London market is an important factor attracting investors.
Average property prices in central London have increased by 35% over the last three years and are now 16% above their 2007 peak. Prime homes typically achieve between 1,500 to 2,500 per square foot (about 790,000 to 1.31 million baht per square metre), with exclusive super-prime properties selling for in excess of 3,000 per square foot. Growth is also likely to continue, particularly in the light of limited supply.
The demand and supply dynamics for central London provide a compelling proposition for investors seeking both safety and potential for capital appreciation. Central London has limitations on developable land, as well as stringent planning regulations, which means demand continuously outstrips supply, and now even more so as the market is attracting global investors.
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