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21 Nov 2023

London's Real Estate Market: Attracting GCC Investors

London's real estate market is attracting the attention of investors from the Gulf Cooperation Council (GCC) due to its potential for high returns and favorable investment prospects. According to an article by Stuart Leslie on CBnME, several areas in London, such as Tooting, Mill Hill, and Hounslow, have gained increased interest from Middle Eastern investors.

The London property market has shown a remarkable history of resilience and growth, with prices nearly quadrupling over the past two decades, according to data from the UK Land Registry. This growth has occurred despite economic challenges such as Brexit, the global financial crisis, and the COVID-19 pandemic.

One key factor contributing to the strength of London's real estate market is its ability to rebound quickly from economic downturns. For example, luxury homes in London are now 5% above their pre-pandemic levels in March 2020. This reflects London's status as a trusted and reliable real estate investment.

London's regeneration zones are particularly attractive to investors from the GCC. Properties within a 750-meter radius of these zones tend to yield higher returns, with an average annual growth rate of up to 3.6%. Areas like Tooting in Wandsworth and Mill Hill in North London offer promising investment prospects.

Tooting, despite being recognised as one of the world's coolest neighborhoods by Lonely Planet, has seen only a 2% increase in property prices over the past five years. This makes it an affordable option for GCC investors, especially considering its proximity to desirable neighborhoods like Earlsfield and Wandsworth.

Mill Hill, located centrally between Mill Hill East underground station and the traditional village center of Mill Hill, has experienced significant appreciation in house prices, with an increase of more than 80% in a decade. North London as a whole has also seen a 40% increase in rental prices.

London's real estate market is not just an investment opportunity; it also offers a thriving business environment. In 2022, despite the challenges of COVID-19 and Brexit, London saw a 2.5% increase in business start-ups, with a record-breaking 275,548 new businesses launched. The city is known for its entrepreneurial spirit and has the largest concentration of business incubators and accelerators in the UK.

Investing in London real estate presents a golden opportunity for GCC investors. With its history of resilience, potential for high returns, and thriving business environment, London remains a top choice for those seeking long-term investment prospects.

Source: CBnME


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