Ownership of Upmarket UK Properties taking on International Flavor
For those who have the cash to spend, today’s housing market in the UK is a beautiful thing. Whether it is becoming a landlord for the first time, remortgaging into a nice rental property or simply moving home, the depressed property prices make it possible to fulfill any property owning fantasy if your wallet is fat enough. That is not the case for the majority of those living here though, as each day brings new economic challenges and frustrations. There is one place in the UK which continues to see property prices climb – the capital city of London. Proof of the attractiveness of the area continues through multiple big ticket purchases by those coming in from outside the area and picking up some great real estate deals.
Buyers with an appetite for international ownership are still flocking to the UK, bucking the usual slowdown which takes place yearly in the hours just before Christmas. So far, a 21% increase in upmarket properties have been placed in the under offer column, which is also an increase of almost 10% on October.
The Fulham area is still a hot area for real estate deals, according to chief executive Peter Rollings, with Marsh & Parsons. He commented on the area, saying: "There's plenty of bonus money around, although they'll never say who they are or where they are working. We have one guy chasing a £3 million mansion flat in Fulham. He's had his surveyor in but he's not even looked at it. Two-bedroom flats at £500,000 are flying out the door."