We have been working in the real estate business for many years, providing clients with all kinds of services. At present, we assist dozens of London authorities with their requirements while giving private landlords rent guarantees. As a result, we are one of the leading teams working in block management Camden has. We are here to help you get the income you deserve, with as little hassle as possible.
During what was a muted pandemic period, London trailed behind the rest of the country in regards to domestic market activity. There was a big drop in purchases and tenancies. It was foreign buyer ownership and demand that actually kept London’s property market going. This is according to research by Benham and Reeves.
Analysing the market
The most recent analysis examines data coming from the Land Registry, looking at overseas purchasers of London buildings. It also took in changes in the level of foreign home ownership. Furthermore, the research examined the complete estimated market value of foreign property purchases in the city.
This research reveals that there was a 4% annual increase in the amount of registrations of London houses by overseas buyers. The total in 2021 was 85,451, an increase over the 81,872 in 2020.
The next thing Benham and Reeves did was apply the property market values over the timeframes. They did so to pinpoint the complete worth of the houses. This estimates that their complete worth was roughly £59.3billion in 2021. The figure here is a 6% increase on the first pandemic year of 2020.
Where are the most foreign-owned properties?
In relation to the greatest sums of London properties owned by foreign parties, Camden is one of the top-ranked boroughs with £3.4billion. Other notable spots are Westminster, Tower Hamlets, and Kensington & Chelsea.
As a matter of fact, only one Borough had a drop in foreign activity in the period; Haringey. Here, overseas registrations fell by a mere 1% year on year. The total value of the properties here also fell by £5m. Contact us if you require the best services for block management Camden can offer.
The Director of Benham and Reeves, Marc von Grundherr also spoke on the situation. He said that the covid virus and travel restrictions did influence foreign buyers and their ability to operate in the London market. This was seen throughout 2020 and for part of 2021. However, he also said that foreign demand has come back to London at a decent pace, pushing the market on.
Join us today for block management in Camden
At Finefair Ltd, we prefer taking a fresh and innovative approach to our work. We are also highly proactive, helping clients to identify what it is that works best for them. Such a strategy has given us a lot of business, as we presently manage a portfolio valued at over £500m. We can even work with clients who want to buy more assets.
So, if you want the top services for block management Camden can give, please speak to us. We have the skills and experience to cater for any needs, including huge blocks.
