Why invest in a new build property in London?
Why buy a new build property?
Less chain, less stress, less hassle. It’s yours as soon as you complete. There is no need to wait for existing owners to move out.
London offers great choice!
New homes are built in all styles and sizes, from small contemporary studio flats to luxury five bedroom family houses and there are countless designs and styles to choose from. Some developers offer personal finishes allowing you to choose different floor covering, tiles and entertainment systems. Properties can be bought in a range of areas across London suiting all tastes and needs.
Built to suit your lifestyle.
New homes are built to make use of every inch of space. Investors can be safe in the knowledge that their new potential tenants will adore their new home. This helps us let the property out faster to a wider range of tenants, saving you time and money!
Capital growth and rental yields.
London is one of the most secure property hot-spots anywhere in the world. If the market should fall marginally, it will always rise again shortly afterwards. Because of this property has out-performed stocks and shares year on year! Investments in todays climates MUST be medium to long term, so between five and ten years. Central London has seen market rises at over 13% in the last 12 months in prime locations.
Rental yields vary by location and cost of property. Yields are sensitive to expensive prime locations and generally will yield less on rental. But, will gain large capital growth in relatively short time periods.
A typical yield:
Islington, N1 last year on a one bedroom apartment was 5-5.75%.
Great Portland Street, W1 on a one bedroom apartment saw yields of roughly 3.5-4%.
Comfort of a warranty.
There’ll be no renovations to be concerned about or repairs to do as the vast majority of new homes come with an insurance-backed 10-year warranty from the National House Building Council or Zurich. These warranties are offered by companies such as NHBC, Premier Guarantee or Build Zone. A warranty takes the stress out of your new purchase and generally covers the following items:
- 10 year Structural Warranty cover
- Insolvency cover available both pre and post completion
- Full risk transfer in years 3-10 of cover
- Cover available for mixed-use development
- Cover as standard for alternative accommodation, additional costs, removal of debris and professional fees
Security and design.
New homes are designed to adhere to high building standards. These standards relate to every aspect of a building’s construction including its structure,ventilation, sound insulation, electrical and fire safety.
New homes are built to a much higher specification than many older properties. Most new developments have fitted kitchens with cooker and hob, fridge/freezer, washing machine and dishwasher. Some new homes are also fitted out with the latest eco-heating systems, climate control, excellent wall and loft insulation as well as double glazed windows and doors. Some developments boast home automation systems that allow owners to control their home remotely from any location in the world through the use of iPads and iPhones.
New Build Handover Service
We do offer all of our customers a bespoke Handover service for a small fee which involves us inspecting and attending the property before completion. We will liaise with the property developers on the fitments and finish of your particular apartment or house. This process does take time but offers you a piece of mind. If we can solve any simple snagging issues before you complete on the property or before your tenant moves-in. This service will save you time, hassle and money.
Our property inspectors are specialists in this field and have been dealing with property developers for many years. We feel this service is invaluable to our customers globally.
The Handover service includes the following:
- Attending the unit and checking the quality of finish and fit through-out the apartment.
- Providing a written report of condition with supporting photographs
- Accepting vacant possession as required on your behalf
- Deal with the developer directly and attend up to two further times
- Organise the furnishings if required and take inventory of installed items
- Call one of our offices in London, Singapore or Hong Kong for more information on our services