Foreign and local firms have been taking space in the West End and London commercial property market, helping to fuel both occupation and real estate investment activity.
These investors and business players may also be helping to drive rents in London’s prime residential market, which has increased by 16% since their recessionary low in June 2009.
According to Paul White, managing director of the Frogmore Property Company, the cost of houses and home credit deals such as tracker mortgages “could be set to increase in the capital in the near future as the property market strengthens over the next year.”
White added that interest in houses in London is currently coming from both UK-based and international investors, adding that this trend of “a lot of people wanting to invest and buy a home in the UK” is likely to continue, despite the ongoing effects of the recession.
The specialist’s comments come after Knight Frank revealed earlier this month that rentals for luxury homes in the capital climbed for the 15th month in a row, a rise of 15% from June 2009.
