Areas to Buy Property in London
Whether you are looking for a home or an investment property in London, knowing what area to buy property in London is extremely important. London is a popular place with a lot of history and a fairly stable economy. While London is a popular place to buy property, some communities are considered much more desirable than others. After the global housing market crash, investors have become increasingly careful with their investments. Here is a short list of the best areas to buy property in London and why these areas are so desirable to investors and residents.
As you might know, where you live shows a lot about your economic status. People want to live in Mayfair because the area has a global reputation. It is one of the most affluent areas in London and those who want to live among the rich and the famous often settle here.
If you are buying on a lower budget, you might want to consider investing in property in Wimbledon. Wimbledon is close to central London for those working centrally and also has a wide variety of different transport links to choose from. Commuting is made easy and investors can still keep their mortgage costs low.
If you are looking for new developments, you are sure to find them in Southwark. More and more tourists and investors are becoming attracted to this area because it is going through a regeneration effort in the South Bank. The economic growth in this area has been on the rise since 2008. In addition to growth, more and more businesses are relocating to Borough because the cost of space is so low.
Stratford is in the process of becoming a new metropolitan centre. A current development is under way to connect Stratford to London City with a Channel Tunnel Rail Link station. Because of this, investors working in the city centre have their eyes on this new Stratford City. There are also a number of redevelopments under way for those looking for newer homes.
Both new and old areas in London can earn investors money over time. If you want to buy property in London, it is important to research what is going on in each area before you commit. Find out why people want to live in an area, which areas have potential, and how much you can expect to buy a home for so you can make an educated decision.
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