As any metro city in the world, London isn’t cheap in any way. Buying a home in London is a dream for many and the city is counted among the most expensive place to live. First time home buyers always feel the crunch of stepping up the home ladder, the have to go through the lending rates, the borrowing costs and to prove to the banks, that they have enough money to pay back the interests and the loans they get. Since 2000 the property value in London has increased rather significantly. Due to recession, not only Europe was affected but the property industry of Middle East affected too.
The property price in London varies as per the accommodation and area sort after. For many reasons central London property is what every first time buyers dread to buy, knowing the costs are high and the property rates in the city are more than double as compared to other parts of London. Places like Kensington, Chelsea, Knightsbridge, and Nottinghill are some areas which come in the expensive areas. Recently for some areas of London the house prices are falling. First time buyers are the one who seek on an average 2 room properties. The rates differ for properties as per the area, amenities, transport, rooms. Commercial property is also one of the toughest properties to buy in London. Many businesses buy the property on lease. Areas like, oxford street, canary warf, central London, Holborn, st pauls are majorly the commercial areas.
London has more then 200 street markets and if you were to find a property which is clean, less noisy and has green areas around it. You wouldn’t want to live near to these street markets for sure. Which makes the decisions of buying a property rather a confusing and cumbersome affair. Honestly speaking, it depends from your preferences where you would like to live. If you like hustling and bustling market areas, which are full of people around all the time, then yes living near street markets is a good idea. Property in London varies from studio apartments to penthouses. London caters to everyone from rags to riches. Average property cost starts from £200,000 to cool £ 1 million plus. Well there you go, if you feel like you have the money of this sort , go for it and buy a pad in London. Surely buying a property in London is no cheap yeah! 🙂
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