Businesses and global investors alike are drawn to property in the centre of the UK's capital because it is "one of the most desirable destinations in the world", according to one real estate expert. Naomi Heaton, chief executive at London Central Portfolio, explained that the lack of space for new developments restricts supply, ensuring that there is always high demand for any accommodation that comes on to the market.
And it isn't just commercial property that is attractive to investors, with Ms Heaton noting that residential real estate is currently proving to be popular. "Eurozone and US concerns over sovereign debt default combined with disturbances in the Middle East have reinforced investor appetite for blue chip assets which can ride out fluctuations in the markets," she stated. Consequently, this has boosted the appeal of housing in London, Ms Heaton added. Earlier this week, WA Ellis revealed that demand for assets in the city's central areas continued to be strong during August, with many property owners experiencing capital growth due to the low amount of high quality stock currently on offer.
- Thursday 08 September 2011