The London property market has continued to attract investors from overseas. The new Battersea power station development has been a immense success and 600 flats were sold in 2 days! Demand for luxuries flats has encouraged developers to buy commercail properties and convert them to residential flats. Off plan flats have attracted investors in order to arrange fianace and gain a a quick return on the value.
In a world of sovereign default London properties are valued similar to gold and U.S. treasuries. What does it mean for the niche London property market? The overseas buyers are taking advantage of the weak sterling. Currently there is less supply and more demand which has created a “bidding war”. It is a competitive market but with some sound advise there is a better chance you will pay the right price!