Mortgage customers buying in London might have to pay a premium, but they are likely to make money on their purchase, with the market only expected to go one way.
London Central Portfolio noted that the British capital is the “most desirable destinations in the world” when it comes to property investment and is currently being buoyed by a large number of foreign investors.
Chief executive Naomi Heaton explained that the overseas buyers come to the city to take advantage of the security the industry offers and grab a property at a bargain rate thanks to the current weakness of the sterling.
She noted that turmoil in Europe and the US, as well as fears over the Middle Eastern markets, has led many international investors to look towards the relative safety of the UK.
“In addition, the weakness of sterling for many non-residents continues to make London central more affordable and the savvy investors know that it may well benefit from the inflationary environment that the UK is anticipated to see,” she said.
“Few people doubt that the long-term outlook for London central is anything other than bright.”
WA Ellis recently released figures showing that international interest had helped to keep prime London property values high in August.
