Upbeat start to 2021 in London

As we enter 2021, the prime London property market is looking surprisingly positive. As the Covid-19 vaccine is administered around the globe, we will inevitably see foreign buyers returning to our shores. Overseas buyers, historically instrumental in boosting the London property market, were noticeably absent in 2020, although a combination of pentup demand and renewed post-lock down urgency from both domestic and UKdomiciled international buyers resulted in a surge of sales activity, especially in north west London, where buyers have been attracted to large family homes with good outside space and close to green open spaces.

As international buyers return to London, we anticipate increased demand for central London apartments that suffered following a flight from central London, with many buyers focusing on houses without side space. This demand will be further boosted by Hong Kong buyers unnerved by the recent Chinese security law who haven’ t yet been able to invest overseas due to the pandemic. Traditionally ,75 percent of overseas buyers favour apartments in secure blocks with porterage, such as 4-6 St Edmunds Terrace, an exclusive new boutique apartment building by The Linton Group.

It is so difficult to predict how 2021 will play out. Inevitably, B rex it will have some impact but, ironically, the turbulent equity markets, very low interest rates and, more recently, less confidence in the commercial property market have been the catalyst for many investors turning to the residential sector, resulting in a recent spate of activity for apartment purchases up to £1 million, in developments such as Queens Park Place by L ondo newcastle, where we are marketing a two-bedroom apartment for £699,950.

This underlines the fact people still value tangible assets and home ownership. Indeed, the past year has highlighted either the virtues or shortcomings of one’ s home and made everyone appreciate their property in an entirely new way.