Is it realistic to buy real estate in London today?

A feature of the UK real estate market is that the prices for properties here largely depend on the locality. If outside of big cities you can buy an apartment the cost of which will correspond to the average prices in Europe, then in London you will have to pay much more for the same option. This trend is primarily due to the great demand for real estate in the capital, since the city is one of the most important business centers in the world.

It is worth noting that London attracts many tourists, and because of this residential properties for rent are in great demand among investors (including foreigners). They allow you to obtain good profits regardless of the season. All of these factors are driving the skyrocketing prices for housing and commercial properties in London.

What are the barriers to buying property in London?

The main obstacle to buying real estate in London is its high cost. It should be noted that even local citizens do not always have the opportunity to save up for housing in the capital, because the prices here often rise sharply. However, for many foreign investors, this obstacle is often not the most serious, as there are other potential questions that might rise up for some:

• the need to confirm the source of your income;
• an account with a European bank, etc.

However, with a competent approach all these points can be resolved successfully. Even under quarantine conditions foreign investors have the opportunity to conclude transactions for the sale and purchase of real estate in London. For example, in Russia many real estate agencies even offer virtual tours of objects that are of interest to potential buyers - an investor can inspect housing, its area, see its infrastructure.

To sum it up, we can say that it is quite possible to buy your own home or commercial facility in London. However, such a deal can be quite expensive.