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26/11/2009
'Once a generation' London property opportunity |
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The prime central London property market is offering the best chance for buyers to land a bargain in decades, it has been stated.
Chief executive of London Central Portfolio Naomi Heaton said the area offers a strong investment because demand is always rising but there is no land available for expansion.
Moreover, she added: "At the moment, there is a very specific window of opportunity simply because prices are softer than they were. They are ticking back up again strongly, but they are still discounted."
Ms Heaton stated that the recent fall has seen the first continuous drop in prices since 1989.
Those keen to invest in prime central London at this time may wish to speak to Westminster lawyers about the legal aspects of such a transaction.
Recent figures from property portal Zoopla revealed that 57 per cent of the residences worth £1 million or more are located in London.
However, it noted, the number of homes worth seven figures has fallen by 29 per cent in the past two years.
Written by Pauline Adams
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