Although London's property market has attracted a great deal of interest from overseas investors in recent months, it appears that the West End is a hotspot for British buyers. According to estate agency LDG, which specialises in real estate in this district of the city, around 60 per cent of the transactions it handled in the last three months were for investors from the UK. Partner at the firm Ben Everest commented: "Low stock levels and a lack of quality instructions are the main factors driving the market forward."
However, the firm noted that when it comes to tenants in rental properties in the West End, the market is dominated by people from abroad. International students are particularly keen to rent in the area, Mr Everest noted. This demand may enhance the appeal of purchasing an investment property in this London district. Meanwhile, Property Frontiers recently highlighted the East End of London as a good location for investors to focus on. According to the organisation, Greenwich has growing appeal for tourists due to its involvement in the 2012 Olympic Games. Investors may therefore want to take advantage of rising demand for accommodation in the district, director of the company Ray Withers suggested.
- Tuesday 01 November 2011