LONDON
4. Employment
City-centre living has become more popular in recent
years, with many professionals choosing to live close
to where they work rather than to make the long
commute back and forth between home and work.
Canary Wharf is a perfect example of this; many
investors have seen their rents increase substantially,
thanks to new companies relocating nearby. Even if
you are not buying in London’s city centre, it’s still
important to consider local employment prospects
while keeping an eye on the news for expansion plans
or inward investment.
A large company arriving on your doorstep or a new
office block can spell an influx of prospective tenants
and boost rentals. Lots of empty retail units or closing
down signs in shop windows should ring alarm bells.
Decide on the size of the property
So, should you be buying one- or two-bed apartments,
or opting for larger family homes? Truth is, this will
all depend on the area you decide to invest in.
One of the most common mistakes South African
investors make when buying property in London is
to come over with preconceived ideas of what they
are going to buy to attract a certain type of tenant.
I often hear variations of the following: ‘Well
Mike, we are only look ing at t wo-bedroom
apartments because we only want to attract young
professionals.’
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