The iconic city of London, located on the banks of the Thames, is the nation’s financial centre, and it acts as a magnet that brings in many people for trade and tourism. Located in the southeastern region of England, London has been a centre of business since its inception.
England did not have any particular capital city for several years. Everything started to change once the administration shifted the offices of the central government to Westminster, a place close to London. And the jump in the trade also played a decisive role that allowed London to become the capital city. Later on, this city became the major distribution hub in Europe due to the boom of the Industrial Revolution.
Even after centuries, how is it possible for this city to maintain the upper hand and be a significant player in trade? It’s through the tourism and property dealing sector. Let’s find out!
Here are the top three locations you should visit in London:
Your trip to the city is not complete if you don’t visit Buckingham Palace. You get to explore the staterooms, magnificently decorated with ornaments and luxurious fabrics. The opportunity to witness the Changing of Guard, which happens at 11:30 AM, is a sight to behold.
Big Ben, the world’s biggest four-faced chiming clock, is another prominent emblem in London. You may visit the top of the Elizabeth Tower’s bell, formally known as the Great Bell. However, it might be hard to get hold of this brilliant tour as it’s always in demand.
A ride on the London Eye is a must to view the city from a fresh perspective. This ride is Europe’s tallest Ferris wheel, at 135 meters tall, and the most popular paid attraction in the UK.
If you can get a ride during the sunset, you’ll see the city coming alive from a bird’s point of view.
The UK was able to generate revenue of around $25 Billion and expects an influx of $283 billion from tourism by 2025. If you’re a property investor, you may now think, what about real estate?
Buyers from everywhere piled up as lockdown restrictions have started to cool down. As a result, the real estate sector generated around $76 billion. It’s been a hot and chaotic period for the London real estate market.
The city witnessed sales records flying over the roof, sending the regional average price over $500K for the first time! In January, the average cost of a home sold in London shot up at $620K, reflecting a 43% spike from 2021.
In the case of super-prime properties, the sales have doubled compared to last year. Prime housing prices grew 3%, which increases yearly house price growth to 5% – driven mainly by the leading London areas.
As for 2022, many experts believe a positive trend will follow. The number of first-time buyers has spiked by 30% compared to the previous five-year averages.
Deciding to buy a dream home is a big financial commitment. At Loft & Manor, our experts will guide you in choosing the property matching your exact requirements. To ensure you receive the best service experience, our team of seasoned professionals assists the stakeholders right from the initiation of the transaction until its completion.
If you’re looking forward to buying a home or commercial space in the UK, we’re happy to announce that we have partnered with the Select Group, the prominent name in the property development and investment arena.
Partner with L&M and complete your dream property transactions seamlessly. Contact us now!