London Property

[Rayd8or]

Hello everyone,

 

I'm thinking of getting a property in London.

 

Appreciate advice from current London property owners or anyone who is able to give valid advice on this.

 

Anything that I have to look out for?

 

Thank you.

[Rayd8or]

Any invaluable advice?

 

Thank you.

[Rockaphonics]

Boy.. u are in the wrong neighborhood with that question.

[Dark]

I would say it is very risky as you are playing with many factors including exchange rate, but can be rewarding if things turn to your favour.

 

No matter what, London is a magnet and the Eurozone crisis may cause more HNW to park their funds there, already the Greek and Italian are doing that.

[Kelvingoh45]

Really hv to bet so big meh??? London wor??? How about JB.........Just kidding.....haha........

[Kusje]

I know nothing about property in London but why don't you tell us about what you know about property in London and where you learned it from.

 

With that info, we can tell you if you know enough to be thinking about investing.

 

[Porker]

I will purchase units in the Canary Wharf area if I were you.

Assumptions:

1) No loan taken so interest and exchange rates fluctuation and revaluation doesn't matter to you2) You have a competent and reputable broker and lawyer representing you3) You have viewed the apartments you have actually shortlisted and considered purchasing and walked the surrounding and not rely solely on overseas marketing presentations held in hotel ballrooms!

[Throttle2]

Hello everyone,

 

I'm thinking of getting a property in London

 

Appreciate advice from current London property owners or anyone who is able to give valid advice on this.

 

Anything that I have to look out for?

 

Thank you.

 

1. you have to look out for the zoning. property may be side by side but fall in diff zones

2. there is increase in stamp duty in recent times, do note

3. the rents havent been all that great even at knightsbridge

4. prices have already risen about 50% since the last turn.

5. Britians economy is really not great as we see further job cuts by major UK banks.

6. Exchange rates are in you advantage as near historical lows, however GBPSGD is expect to go lower. under $2 is not an if it is a when.

7. take the maximum loan you can, to cut out the Forex risk. at the same time ensuring you can take the swing. prices in London can swing

8. i can connect you directly to KnightFrank London Office

Edited July 8, 2012 by Throttle2

[Porker]

A few pictures of a decent unit for your consideration. The furniture is awful but the overall design of the apartment is decent (my type)

 

 

 

 

 

[Throttle2]

Mate , you selling si bo?

 

muayhahaha

[Porker]

I already hate the furniture so it can't be mine right?

[Macrotrust]

are u looking for rental yield or capital appreciation.

 

if you are looking for rental , buy areas near University of London where there are many colleges like LSE. UC,King, Imperial, LBS & others where there are many foreign students are renting houses to share room or the whole flat. Of course you need to look at the condition of the apartment & etc.

 

of course you can look at zone 1,2, 3 areas depending on your budget where it is near the tube or train station along picadilly or green line (most prefer)

[Rayd8or]

Thank you everyone for all the response.

 

Very valid advice especially Throttle's.

 

I have been traveling to and fro London and other cities in Europe quite frequently for both leisure and business but honestly more for leisure.

 

Do not want to buy more Sgp properties as do not want to pay higher stamp duties and prices are a little crazy.

 

Thinking of getting London apt for personal use since forex has been favourable. Do not want to stay in hotel as money spent there can be put in a property. I sometimes spend a whole month in London and bills for accommodation runs in tens of thousands.

 

Spoke to a couple of acquaintances and points seem to run along Throttle's and there were other considerations that they pointed out too.

 

Really appreciate everyone's comment.

 

May take up Throttle's offer. Thank you.

[Jman888]

shouldn't the price be sky high now with Olympic this year?

[Jj5599]

Singapore property you buy enough liao?

[Throttle2]

London properties are cheap compared to Singapore.

When we sold our Singapore condo unit last year to the Regional Director of a worldwide bank he was astonished at how the price was here compared to London.

 

I've owned property in London both flats and houses and rented them.

Don't rent to students.

Use a rental management company.

 

Tax has to be paid on rental income and Capital Gains Tax at 18% when you sell your property, if you make a profit.

Stamp duty shouldn't put you off buying.

 

We sold our last property, a 4 bed house in west London, 15 years ago because we had 7 burglaries in less than a year.

That of course is unusual.

 

FX rates are advantageous if you intend using Sing dollars but FX is always another uncertainty to contend with.

Mortgages are more expensive in UK than Sing???

Also consider upkeep.

 

London prices at the topish end are more stable than most if not all of UK but do vary probably even more than Sing prices.

 

You may look at buying to make your life easier and more stable if you are travelling but unless you are looking long term, more than 10 or 15 years, then it might be considered more a gamble than an investment.

 

IMO.

 

 

wow, a 4 bed house in west london 15 yrs ago? for how much? GBP150k - $200k?

 

Which property in singapore did you sell to the bank officer?

 

any indication of price and size?

 

just for personal reference, thanks

 

 

 

 

[Throttle2]

Thank you everyone for all the response.

 

Very valid advice especially Throttle's.

 

I have been traveling to and fro London and other cities in Europe quite frequently for both leisure and business but honestly more for leisure.

 

Do not want to buy more Sgp properties as do not want to pay higher stamp duties and prices are a little crazy.

 

Thinking of getting London apt for personal use since forex has been favourable. Do not want to stay in hotel as money spent there can be put in a property. I sometimes spend a whole month in London and bills for accommodation runs in tens of thousands.

 

Spoke to a couple of acquaintances and points seem to run along Throttle's and there were other considerations that they pointed out too.

 

Really appreciate everyone's comment.

 

May take up Throttle's offer. Thank you.

 

Somebody was showing me a beautiful one at Westminster SW1

About gbp1700 psf. Too bad i boh lui.

 

Also got another one at Providence Wharf, much cheaper.

 

But honestly, i am very conservative and never touch anything i dont know enough.

Plus got no links with London so no reason to buy. Ultimately no money to play such things.

 

You hv fairly good reason to buy so it may make sense.

[Wyfitms]

Prudent to do extensive research as it is a farily large investment.

 

Currently trying to acquire real estate there (for company). It's an eye-opener speaking to the bankers, accountants and brokers there. Many less direct costs involved and pitfalls to watch out for... and also takes time to understand the real estate market there.