Finefair is the perfect team to look after your properties. We know what it takes to manage these assets carefully, especially when you have tenants. This is why we are the top team for property management Kensington and Chelsea has.
London is changing the way retirees look at their properties. In the last two year there has been a huge increase in the number of luxury retirement villages in the capital. These homes tend to be large spacious apartments in modern blocks. Many residents have access to lots of attractive services to improve their quality of life. As a result they favour downsizing to them.
Freeing up properties
Surprisingly the change in attitudes of retirees can have a positive benefit on the property market. If they move to luxury apartments this frees up more large family homes, many of which are currently under-occupied. These can then go to families who may be struggling to find suitable homes.
A new analysis of retirees in London claims that a huge £62bn in property equity could be released if they chose to downsize. Kensington and Chelsea is the Borough with the highest percentage of this. If all over 65s here with homes that have unused space downsized, it would release £5bn in equity.
The number of retirees in London will rise to 1 million by 2030. It will be double this number by 2050. As a result there will be a lot of demand for retirement living homes. It could also mean the potential of even more homes becoming available as people downsize.
Some property owners choose to downsize but don’t sell their assets. This can still be a good option because they can take on tenants. Finefair can help with this, arranging tenancies and offering private lettings and council leasing. In addition we can offer guaranteed rent and handle managing properties.
If you want to arrange the most reliable property management Kensington and Chelsea can offer, rely on us. You can trust our experience and expect a top quality service. Simply get in touch with us today.