Luxury London property is being buoyed by an increasing number of cash-rich foreigners, who in some cases are willing to pay above the asking price for the best properties the capital has to offer.
The lack of supply means good quality property in areas like Knightsbridge and Chelsea is attracting a flurry of interest as soon as it hits the market. Rich buyers are increasingly engaging in competitive bidding and even gazumping.
Thursday, 24 September 2009
Saturday, 1 August 2009
Property Prices Rise Again
New York Times Reports House prices rose for a third month running in July, the Nationwide Building Society said Thursday, providing further evidence that property prices may have stabilised despite low turnover.
The mortgage lender said house prices rose 1.3 percent this month, the fourth increase in five months, reducing the annual price fall to 6.2 percent, its smallest in more than a year.
Martin Gahbauer, Nationwide's chief economist, said tight supply, pent-up demand and historically low interest rates had been enough to produce a bounce in prices despite the worst recession in decades.
"There is now a reasonable chance prices could end the year slightly higher than where they started," he added. "Only a few months ago, such an outcome would have appeared unthinkable."
Even if prices remain unchanged for the rest of the year, the annual rate will continue to improve due to the sharp fall in prices at the end of last year.
The mortgage lender said house prices rose 1.3 percent this month, the fourth increase in five months, reducing the annual price fall to 6.2 percent, its smallest in more than a year.
Martin Gahbauer, Nationwide's chief economist, said tight supply, pent-up demand and historically low interest rates had been enough to produce a bounce in prices despite the worst recession in decades.
"There is now a reasonable chance prices could end the year slightly higher than where they started," he added. "Only a few months ago, such an outcome would have appeared unthinkable."
Even if prices remain unchanged for the rest of the year, the annual rate will continue to improve due to the sharp fall in prices at the end of last year.
Thursday, 18 June 2009
Foreign Buyers Keep Knightbridge Property Market Close to 2007 Levels
Foreign buyers are currently making the majority of all property purchases in prime London areas such as Chelsea, Knightsbridge and Hyde Park, reports property consultants Cluttons.
Despite the fact that prices have held firm in these traditionally upmarket areas, foreign buyers are prepared to pay a premium to secure the property they want as a result of considerable savings being made on the currency exchange.
Despite the downturn, London is still viewed by foreign buyers as one of the most desirable places in the world to own property, particularly those from Europe and the Middle East who are taking a long-term investment view.
They want to buy in traditional prime locations which have limited stock and little new development, resulting in a strong level of demand.
Prices in such areas have fallen little over the last two years, due to the fact that the majority of these property owners have owned their properties for some time and many are unaffected by the employment market or mortgage availability and have not needed to sell.
They have been in a position to hold out until the market picks up, and with foreign interest now reaching new heights, prices are close to 2007 levels.
Despite the fact that prices have held firm in these traditionally upmarket areas, foreign buyers are prepared to pay a premium to secure the property they want as a result of considerable savings being made on the currency exchange.
Despite the downturn, London is still viewed by foreign buyers as one of the most desirable places in the world to own property, particularly those from Europe and the Middle East who are taking a long-term investment view.
They want to buy in traditional prime locations which have limited stock and little new development, resulting in a strong level of demand.
Prices in such areas have fallen little over the last two years, due to the fact that the majority of these property owners have owned their properties for some time and many are unaffected by the employment market or mortgage availability and have not needed to sell.
They have been in a position to hold out until the market picks up, and with foreign interest now reaching new heights, prices are close to 2007 levels.
Thursday, 30 October 2008
Knightsbridge lettings agents: lettings in London SW7
Knightsbridge boasts some of London's most expensive and well-known designer boutiques in Sloane Street and of course the world famous Harrods and Harvey Nicholls department stores. Stretching from Hyde Park Corner to Kensington Road, it represents the height of London's extravagance in designer fashion.
Knightsbridge homes range from picturesque pastel mews houses to imposing redbrick mansion blocks.
Monday, 20 October 2008
Travel Links to Knightsbridge
Knightsbridge (Piccadilly Line)Victoria Railway Station
Motorway Junction M4 Junction 1
Airport London City
Lettings in Knightsbridge SW7
Knightsbridge - playground of the wealthy and gloriously connected.
Who'd have thought that an area once famous only for its numerous drinking holes and highwaymen would become the Shangri-la for the capital's rich and well-heeled? But Knightsbridge has long since managed to shrug off its less salubrious beginnings and built up a reputation reliant on the finer things in life.
Just take a look up Brompton Road and Sloane Street to get an idea of the clientele the area is trying to attract - the biggest names in fashion lay side by side, protected only by thick, frosted glass and burly doormen.
Christian Dior, Chanel, Prada and Gucci fly the flag for glamour and decadence so if you've got the cash make the most of the beautiful, beyond expensive, wardrobe additions laid out for your delectation.
If the thought of all those big name shops is just TOO intimidating why not make one stop at A La Mode where you'll find all manner of top notch, named clothing plus beautiful, beautiful girly shoe creations by Posh's fave, Gina. For beige and navy fans, who prefer their clothing to err on the safe side, there's Nicole Fahri and Emporio Armani while eclectic bohos with a big bank balance or an understanding partner/relative could try getting through the door of Voyage.
Wednesday, 20 August 2008
Pubs, Bars, Cafés and Restaurants in Knightsbridge
Ruse Down Under
Millenium Gloucester Hotel, Harrington Gardens, Knightsbridge, London, SW7 4LH
Tel: 020 7331 6215
The Zetland Arms
2, Bute St, Knightsbridge, London, SW7 3EX
Tel: 020 7589 3813
Finnegans Wake
34, Gloucester Rd, Knightsbridge, London, SW7 4RB
Tel: 020 7584 0020
Tea Clipper
19, Montpelier St, Knightsbridge, London, SW7 1HF
Tel: 020 7589 5251
The Prince Regent
25, Gloucester Rd, Knightsbridge, London, SW7 4PL
Tel: 020 7589 0905
Anglesea Arms
15, Sellwood Terrace, South Kensington, London, SW7 3QG
Tel: 020 7373 7960
The Queens Arms
30, Queens Gate Mews, Knightsbridge, London, SW7 5QL
Tel: 020 7581 7741
Hereford Arms
127, Gloucester Rd, Knightsbridge, London, SW7 4TE
Tel: 020 7370 4988
The Hoop & Toy
34, Thurloe Place, South Kensington, London, SW7 2HQ
Tel: 020 7589 8360
Kulu Kulu Sushi
39, Thurloe Place, South Kensington, London, SW7 2HP
Tel: 020 7589 2225
Vecchiomondo Restaurant
118, Cromwell Rd, Knightsbridge, London, SW7 4ET
Tel: 020 7373 7756
Abbaye
102, Old Brompton Rd, Knightsbridge, London, SW7 3RD
Tel: 020 7373 2403
Rotisserie Jules
6-8, Bute St, Knightsbridge, London, SW7 3EX
Tel: 020 7584 0600
Harrington Hall
5-25, Harrington Gardens, Knightsbridge, London, SW7 4JN
Tel: 020 7396 9696
The Regency Hotel
100, Queen's Gate, Knightsbridge, London, SW7 5AG
Tel: 020 7373 7878
Sarova Hotels
11, Thurloe Place, Knightsbridge, London, SW7 2RS
Tel: 020 7661 1661
The Paper Tiger Restaurant
10-12, Exhibition Rd, Knightsbridge, London, SW7 2HF
Tel: 020 7225 0776
Cafe Lazeez
93-95, Old Brompton Rd, Knightsbridge, London, SW7 3LD
Tel: 020 7581 9993
Pizzeria Romana
29, Harrington Rd, Knightsbridge, London, SW7 4LU
Tel: 020 7225 0060
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