24 September 2009
There is an "exceptional opportunity" to invest in central London property
People seeking to buy a home in central London could benefit from an "exceptional opportunity" at present, an expert has said.
According to Naomi Heaton, chief executive at London Central Portfolio, the market is being driven by high net worth individuals who recognise that the recession has created good purchasing conditions.
She made her comments following the release of figures from Primelocation.com, which suggested that prime asking prices for homes increased by 1.42 per cent last month.
Ms Heaton said: "The inherent supply constraints of areas like London central - the Royal Borough of Kensington and Chelsea and the City of Westminster - will always lead to a robust [market] performance."
She added that the global desire to own bricks and mortar in some of the world's most prestigious addresses means there is a constant expansion of the potential market against a backdrop of limited properties and land development.