In my opinion, a recent article in “The Independent” is another one of the many signs that indicates that the property market in London is overheated and the bubble is just getting bigger:
“A one bedroom basement flat in South Kensington has been put up for sale for nearly £600,000, despite being described as “uninhabitable” and only having 30 years left on its lease.”
ONS House Price Index informs that the average house prices in London rose by 19.3% in the year to June 2014, down from May rate of 20.1% but still an extremely strong growth rate.
Everyone knows that those increases in price are unsustainable in the end, therefore it is probably the optimum time to sell your property in London and buy your Villa Overseas where you can still find significant reductions in most of Southern Europe holiday destinations.
Nevertheless things are slowly starting to change as most potential buyers feel that this market has touched bottom and if we add the fact that the buying sentiment of mid age professionals in London looking for a place to spend their holidays and with the chance of renting it out while not using the property, it is a good opportunity to have your own house overseas and maybe one day a place to retire in the cold winter months.
If this could be a plan you may consider and you would like to find out how Financial North ® may assist you to obtain finance to invest on a property Overseas, please contact us at firstname.lastname@example.org