How to Buy a Home in the City of London
Buying a home in the City of London requires a determination of your budget and the type of home you want. The area of the City would be the next consideration. Homes in London are very expensive, but some are more so than others. This means you have choices, but the price is not only determined by the size and the decor. Some locations are considered more prestigious, and these are higher priced.
As an example, Chelsea is the most expensive street in London and property is 74 times the average property price in the U.K. Egerton Crescent ranks near the top as the most expensive street in the UK where £8million is the average cost of property. Property in Kennsington and Hyde Park are in the top ten pricey neighborhoods.
You might opt to purchase a home in the City which encompasses many different pockets of property including Clerkenwell, Blackfriars, Shoreditch, St Paul’s and the Barbican. The City area is a square mile which is extremely popular with both workers in the City and those looking for pied-a-terres. Properties are typically studios, 1 and 2 bedroom apartments. These properties are often located in modern blocks and they come with concierge services.
Another area to consider is East of City where warehouse conversions are very popular in areas such as Liverpool Street, Tower Hill and Spitalfields. The stunning Georgian houses are located in the Fournier Street Conservation Area. Many contemporary tower blocks and new developments been built in Aldgate and further to the east.
The West End from Holborn through Bloomsbury, Covent Garden and over to Soho which is London’s nightlife and cultural hub. Many world famous restaurants, bars, theaters, and shops. Properties here range from 1 bedroom apartments to exquisite penthouses offering phenomenal views over central London.
When you have studied your choice of neighborhoods and analysed the prices you can afford to pay, contact an experienced estate agent to show you how to buy a home in the City of London. For most buyers, this area will be far more affordable and better suited to the commercial activities and transportation. Living in the shadow of the great St. Pauls Cathedral is a marvel unto itself.