London has always been one of the most desirable places to live around the world due to its unique culture, vibrant lifestyle and opportunities for investment. Whether you want to sell or purchase property, you should give some thought by investing in London. There are plenty of reasons why investing in real estate in one of the greatest cities in the world makes sense.
The City is Growing Itself .
With the rise of globalization, London has become a major hub for business, finance and trade. This means there has been an increase in demand for office space, which has driven up prices. As a result, people who want to buy and sell property in central locations such as Mayfair and Kensington can get good returns on their investments.
There are Plenty of Investment Opportunities.
There are many different types of properties that people can invest in. Some examples include housing units, residential and commercial buildings, shops, industrial land and more. Regardless of what kind of property you decide to invest in, it will still be one of the best decisions you ever make.
There’s a Great Networking Community.
As London continues to grow and develop, so does the network of professionals and other people with similar interests. In addition to this, you have a wealth of networking possibilities thanks to events like the Global Investors Conference (GIC). The GIC provides investors from all over the world with a platform to connect and learn about new developments and ideas from experts in the industry.
Prices Are Attractive.
The average price per square foot in central London is currently at $2,000 – which is lower than the rest of the UK. With rents continuing to drop across the country, this gives investors a great opportunity to get into the market before prices continue to fall.
There’s a Lot of Government Funding .
According to Capital & Crisis, there is £20 billion available in government funding for affordable housing projects across England. If you’re planning to put money into renting out your own home, this could be a great source of additional income.
People Have More Money than Ever Before.
Global economic growth has increased over the past few years by 3.5 per cent each year on average. This has resulted in more people having access to better financial resources and greater disposable incomes. In fact, according to Credit Suisse, between 2014 and 2018, people worldwide will spend three times more than they did during the previous decade. As a result, we are seeing a shift towards higher spending and a decrease in saving.
The Cost Of Living Is Low.
A recent report published by Right move found that the cost of living in the capital city was 9 per cent below the national average — making it cheaper to live in London compared to any other big British city. Not only do residents enjoy low costs of living, but they also benefit from the diverse range of cultural activities and festivals held throughout the year.
A Strong Economy Means Businesses Will Be Buying Up Office Space.
Due to London being one of the strongest economies in the world, businesses can afford larger offices in the centre of town instead of paying rent to the landlord in suburban areas. Therefore, if you are looking for a way to earn extra cash through property rentals, consider purchasing office space in central London where competition isn’t as high.
You Can Easily Earn Extra Cash by Working from Home.
If you already work from home yourself, then selling a room or even an entire house may seem like a simple enough task. However, if you want to take things up to another level, think about offering services such as cleaning or handyman jobs.
Everyone Needs Somewhere to Live.
With the increase in population, demand for homes is expected to rise significantly over the next few decades. According to data from the Greater London Authority, the number of households in the zone is projected to reach 2.1 million by 2036. Because of this, there will always be a need for someone to rent out their property.
The Bottom Line.
There are many reasons why investing in rental properties can make sense. Whether you are trying to invest for retirement or you plan to use passive income to pay off your mortgage faster, buying real estate doesn’t have to be complicated. While it’s important to never lose sight of how much risk is involved with property investment, it’s also crucial to understand the potential rewards so you don’t become disheartened when things don’t go exactly as planned. But if things dont go according to plan you can always play online casino games.