What will 2012 bring?
The Euro zone does not seem to be in good shape at all these days according to the media.
Britain on the other hand is not in too bad a shape and that may explain why we are seeing continued investment interest particularly in Central London. The majority of our buyers are investors looking for long term growth as opposed to short term returns.
In addition the rental market has grown yet again. The shortage of property has pushed asking rents to very high levels. However, I think that the rental market has now peaked and 2012 should bring in more price stability.
Our renewal department has been enjoying much success and we have been able to obtain rent increases throughout our management portfolio.
Our Lettings department has also ventured further West and we are marketing the prestigious Armitage apartments on Great Portland Street.
Overall I believe that 2012 will be a quieter year compared with 2011, however, continued optimism in Central London should keep the property market in good shape.
Indy Perera
2012 - The year ahead
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