<h2>Introduction </h2>Riverside living along the Thames has a timeless appeal, combining scenic beauty, cultural heritage, and a dynamic lifestyle. This blog explores why owning a home by the river is highly coveted in London, highlighting the unique benefits and lifestyle
 opportunities that come with Thames-side properties.<h2>Lifestyle and Investment Benefits</h2><ul><li>Scenic Views and Recreational Opportunities:
 <ul><li>Explain how proximity to the river enhances quality of life through leisure activities and natural beauty.</li></ul></li><li>Cultural and Historic Significance:
 <ul><li>Highlight the connection between Thames-side living and London&rsquo;s rich cultural heritage.</li></ul></li><li>Strong Investment Performance:
 <ul><li>Discuss market trends that indicate robust demand and stable property values in riverside locations.</li></ul></li></ul><h2>Conclusion</h2>Living along the Thames offers a unique blend of beauty, lifestyle, and investment appeal. For those seeking a property that embodies the spirit of London, riverside homes deliver a captivating living experience and strong long-term value.<h2>Sources:</h2><ul><li>JLL Lifestyle and Investment Reports</li><li>CBRE London Waterfront Studies</li><li>Historic England and Local Authority Data</li></ul>&nbsp;

The Appeal of Riverside Living along the Thames

Blog Post 5

Experience the charm of riverside living in London. We talk about the benefits and lifestyle advantages of owning a home along the iconic Thames. #ThamesLiving #JLLRealEstate

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<h2>Introduction </h2>Traditionally known as a global financial centre, Canary Wharf is witnessing a significant transformation as it becomes an attractive residential destination. This blog examines the drivers behind this shift, including urban regeneration, lifestyle enhancements
 and market trends that are turning the area into a sought-after residential hub.<h2>Transformation Drivers</h2><ul><li>Urban Regeneration Projects:
 <ul><li>New mixed-use developments, improved public spaces, and enhanced transport links are redefining Canary Wharf.</li></ul></li><li>Lifestyle and Community Appeal:
 <ul><li>Increased focus on leisure, dining, and green spaces is making the area more family-friendly and appealing to residents.</li></ul></li><li>Investment Potential:
 <ul><li>Rising demand for residential units and strong rental yields are attracting both local and international investors.</li></ul></li></ul><h2>Conclusion </h2>The transformation of Canary Wharf into a residential hub represents a new chapter for one of London&rsquo;s most dynamic areas. With robust redevelopment plans and a shift in market demand, this evolution offers significant opportunities for homebuyers
 and investors alike.<h2>Sources:</h2><ul><li>JLL Urban Regeneration Reports</li><li>CBRE Canary Wharf Studies</li><li>Greater London Authority Updates </li></ul>

Why Canary Wharf Is Transforming into a Residential Hub

Blog Post 4

<div>Canary Wharf is not the same anymore! We discover why this iconic financial district is transforming into a vibrant residential hub and what it means for investors and homebuyers. #CanaryWharf #JLLRealEstate</div><div> </div>

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<h2>Introduction</h2>Stamp duty and other property-related taxes are critical components of the total cost of buying a home in London. Understanding how these taxes are calculated and what exemptions or reliefs might apply is essential for budgeting and planning. This blog
 demystifies the complex tax structure, offering practical insights for prospective buyers.<h2>Breakdown of Key Taxes</h2><ul><li>Stamp Duty Land Tax (SDLT):
 <ul><li>Explain the tiered structure, thresholds, and how the tax is calculated.</li></ul></li><li>Additional Property Taxes:
 <ul><li>Overview of other applicable taxes, including second home surcharges and potential capital gains implications.</li></ul></li><li>Planning and Budgeting:
 <ul><li>Provide tips on how to factor these taxes into your overall property budget and strategies for tax efficiency.</li></ul></li></ul><h2>Conclusion</h2>A clear understanding of stamp duty and related taxes is essential for anyone buying property in London. With careful planning and expert advice, buyers can navigate these costs confidently and optimize their investment strategy.<h2>Sources:</h2><ul><li>JLL Taxation Guides</li><li>HM Revenue &amp; Customs Publications</li><li>CBRE Financial Insights</li></ul>

Demystifying Stamp Duty and Other Taxes When Buying Property in London

Stamp duty and property taxes can be a headache when buying overseas property. We share how to simplify these costs, providing clear guidance for buyers navigating London&rsquo;s property tax landscape. #LondonTaxes #JLLInsights

First-Time Homebuyer Tips for Navigating London’s Property Market

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<h2>Introduction</h2>London&rsquo;s luxury real estate sector is renowned for its sophistication and exclusivity. High-net-worth individuals (HNWIs) are driving demand for premium properties, with trends evolving in response to global events, lifestyle changes, and shifting
 investment priorities. We explore the latest buyer behavior trends and the factors influencing luxury property transactions in London.<h2>Trends Among High-Net-Worth Buyers</h2><ul><li>Preference for Exclusivity:
 <ul><li>HNWIs increasingly seek properties that offer privacy, bespoke amenities, and unique architectural designs.</li></ul></li><li>Lifestyle and Investment Considerations:
 <ul><li>Buyers are not only looking for luxurious living but also for properties that serve as sound investments, offering stable returns and long-term value.</li></ul></li><li>Global Influence:
 <ul><li>International buyers are drawn to London&rsquo;s luxury market by its status as a global financial center and cultural hub.</li></ul></li></ul><h2>Market Drivers and Buyer Behavior</h2><ul><li>Personalization and Customization:
 <ul><li>The demand for tailor-made properties that reflect individual lifestyles is at an all-time high.</li></ul></li><li>Tech Integration and Smart Homes:
 <ul><li>Luxury buyers are increasingly seeking homes equipped with advanced technology that enhances comfort and security.</li></ul></li><li>Sustainability and Eco-Friendly Features:
 <ul><li>A growing number of affluent buyers consider environmental sustainability an essential aspect of luxury living.</li></ul></li></ul><h2>Conclusion</h2>London&rsquo;s luxury real estate market continues to evolve, driven by sophisticated buyer behavior and global economic trends. Understanding these trends is crucial for developers and agents looking to cater to the discerning tastes of high-net-worth
 buyers while ensuring sustainable, long-term growth.<h2>Sources:</h2><ul><li>JLL Luxury Market Reports</li><li>CBRE Global Luxury Trends</li><li>Financial Times Real Estate Analysis</li></ul>&nbsp;

Luxury Real Estate in London: Trends in High-Net-Worth Buyer Behavior

Luxury Real Estate in London Trends in High-Net-Worth Buyer Behavior

Eyeing your next home in London&rsquo;s luxury real estate market? We uncover the latest trends in high-net-worth buyer behavior and what drives demand for exclusive properties. #LondonLuxury #JLLInsights

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<h2>Introduction</h2>Entering London&rsquo;s property market for the first time can be both exciting and overwhelming. With high prices and fierce competition, first-time buyers need a solid strategy to secure their dream home. We offer practical, research-based advice from
 budgeting and financing to choosing the right neighbourhood ensuring that new buyers can confidently navigate the market.<h2>Essential Tips for First-Time Buyers</h2><ul><li>Budgeting and Financing:
 <ul><li>Develop a realistic budget, factoring in hidden costs such as stamp duty, legal fees, and moving expenses. Secure pre-approval for a mortgage to strengthen your bargaining position.</li></ul></li><li>Research and Due Diligence:
 <ul><li>Use trusted sources and market reports from JLL and CBRE to understand neighbourhood trends, price movements and potential investment returns.</li></ul></li><li>Choosing the Right Location:
 <ul><li>Consider factors like connectivity, future development plans, and local amenities when selecting an area.</li></ul></li><li>Engage Professionals:
 <ul><li>Work with experienced real estate agents, mortgage brokers, and legal advisors who specialize in London property transactions.</li></ul></li></ul><h2>Navigating the Process</h2><ul type="disc"><li>Property Viewing and Inspections:</li><ul type="circle"><li>Attend multiple viewings and conduct thorough inspections to avoid costly surprises.</li></ul><li>Negotiation Tactics:</li><ul type="circle"><li>Be prepared to negotiate on price and terms, and don&rsquo;t be afraid to walk away if the deal doesn&rsquo;t meet your requirements.</li></ul></ul><h2>Conclusion</h2>For first-time buyers in London, preparation and informed decision-making are key. By following these tips and leveraging expert advice, new buyers can overcome challenges and secure a home that meets both their needs and long-term investment goals.<h2>Sources:</h2><ul type="disc"><li>JLL Homebuyer Guides</li><li>CBRE Residential Market Data</li><li>UK Mortgage and Legal Advisory Services </li></ul>

<span style="font-size:10.0pt;line-height:107%;font-family:'Calibri',sans-serif;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:DengXian;mso-fareast-theme-font:minor-fareast;mso-hansi-theme-font:minor-latin;mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-US;mso-fareast-language:EN-US;mso-bidi-language:AR-SA;">Buying your first home in London? We share a
comprehensive guide providing first-time homebuyers with essential tips for
navigating London&rsquo;s competitive property market. #LondonHomeBuyers #JLLInsightsBuying your first home in London? We share a comprehensive guide providing first-time homebuyers with essential tips for navigating London&rsquo;s competitive property market. #LondonHomeBuyers #JLLInsights

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With the October Budget behind us, the outlook for both prices and rents remains positive. The government is forging ahead with its plan to deliver more homes, but it will take some time before we see any real impact on overall supply. Increased government
 borrowing means the latest inflation forecasts from the Office for Budget Responsibility have come in higher than expected, which could throw some cold water on more bullish forecasts for mortgage rates.&nbsp; But the direction of travel appears to
 be the same, even if it may take a little longer to get there. Lack of supply and more competitive mortgage rates are expected to underpin growth in prices over the next five years. Rental growth is expected to exceed inflation and wages over the five-year forecast period, but an increase in activity in the sales
 market means rental growth is expected to lag price growth, with rents forecast to be 17% higher by the end of 2029. <h2>2024 outlook</h2>Back in May we forecast house prices nationally would rise by 2% in 2024. This was underpinned by a continued resilience and lack of distress in the sales market, with prices holding firm despite the challenge of higher rates and uncertainties in the
 run up to the election (which at that point we were thinking would take place in the autumn). An early election was seen as a positive for the market, but Budget jitters meant much of that hoped for momentum was lost (or at least delayed).Looking at the latest government figures (year to August 2024) shows prices have risen 2.8% annually, with more recent Nationwide figures for the year to October at 2.4%. There are obviously a few months to go but we expect year end growth to come in
 marginally above our 2% forecast. Scotland and the north of England are expected to see higher growth. Higher mortgage rates remained most challenging for more expensive markets in London and southern England, with growth in these regions, as forecast,
 lower than other areas of the UK this year.<img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1730756189/resi/gb/Articles/Images/Resi-Forecast-Chart-1.jpg" />We forecast UK rents would end 2024 4.5% higher annually.&nbsp; The ONS Private Rents Index, which we benchmark against, is still showing growth of 8.4% in the year to August, but new lets data from Homelet data shows average rents were 4.3% higher in
 September 2024 than they were a year earlier. We expect ONS figures could end the year higher than our 4.5% forecast, but the significant imbalance between tenant demand and supply has levelled off in recent months so we expect some further heat will
 come out of the rental market as we move into 2025. <h2>Lessons from the (recent) past</h2>Looking back over the last 25 years, price growth (taken here in five-year chunks to mirror our five-year outlook) shows three distinct periods for growth. Before the Global Financial Crisis five-year growth of 60% or more was the norm. But the period
 of re-correction that followed saw much of this froth removed from the market as five-year growth fell back to single digits or low teens to compensate for the significant tightening of the debt markets. But for the last decade, despite significant variation in mortgage rates and a global pandemic, house prices rises over a five-year term have remained remarkably consistent. Peaking in 2017 at 33% but otherwise ranging from 21% to 27%.&nbsp;<img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1730756189/resi/gb/Articles/Images/Resi-Forecast-Chart-2.jpg" /><h2>UK Economy</h2><style>td,
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<div style="overflow-x:auto;" align="center"><table cellspacing="0" cellpadding="0" border="1" align="left"><tbody><tr class="red"><th scope="col"></th><th scope="col">2025</th><th scope="col">2026</th><th scope="col">2027</th><th scope="col" data-role="resizable">2028</th><th scope="col" data-role="resizable">2029</th><th scope="col">Change 2025-29</th></tr><tr><td>CPI (OBR)</td><td>2.6</td><td>2.3</td><td>2.1</td><td>2.1</td><td>2.0</td><td>11.6</td></tr><tr><td>Wages (OE)</td><td>2.7</td><td>2.4</td><td>2.5</td><td>2.8</td><td>2.9</td><td>14.0</td></tr><tr><td>UK GDP (OBR)</td><td>2</td><td>1.8</td><td>1.5</td><td>1.5</td><td>1.6</td><td>8.7</td></tr></tbody></table></div>Source: JLL Research using Office of Budget Responsibility, Oxford EconomicsThe outlook for economic growth remains muted, with inflation expected to sit a little higher than the Bank of England&rsquo;s 2% target until 2029.&nbsp; But the Bank of England rate cutting cycle is expected to continue and assuming swap rates settle
 post Budget and the US election we&rsquo;ll likely see mortgage rates fall back too - if not quite as quickly as we had hoped. Consensus forecasts suggest rate cuts will run through until the end of 2026, with mortgage rates expected to become more competitive over this period. Following a similar trend to 2024 we anticipate lower value markets will benefit first.&nbsp; Activity
 will be driven by first time buyers, with home movers following once rates become more attractive. Higher value markets in London and the south are expected to see stronger growth in the second half of our five-year forecast period.<h2>Market activity</h2><style>td,
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<div style="overflow-x:auto;" align="center"><table cellspacing="0" cellpadding="0" border="1" align="left"><tbody><tr class="red"><th scope="col" data-role="resizable"></th><th scope="col" data-role="resizable">2024</th><th scope="col">2025</th><th scope="col">2026</th><th scope="col" data-role="resizable">2027</th><th scope="col">2028</th><th scope="col">2029</th></tr><tr><td>Housing Starts</td><td>135,000</td><td>157,000</td><td>179,000</td><td>199,000</td><td>224,000</td><td>244,000</td></tr><tr><td>Transactions</td><td>1.0m</td><td>1.2m</td><td>1.3m</td><td>1.3m</td><td>1.3m</td><td>1.4m</td></tr></tbody></table></div>Source: JLL Research, ExperianCommitting to build 1.5 million homes over the course of this parliament, the government has set itself an ambitious target.&nbsp; But ramping up delivery without any demand side stimulus will be a real challenge. Current supply side plans have started
 to put the building blocks in place to ramp up delivery but increasing delivery in a meaningful way with current planning, labour force, and supply chain constraints won&rsquo;t be a quick fix. JLL forecast new housing starts across the UK will total
 1 million homes between 2025 and 2029.&nbsp; Conversions of existing stock (currently accounting for around one in ten net additions) are expected to rise too, so we&rsquo;ve allowed (possibly sightly ambitiously) for 200,000 in the next five years
 taking us to a forecast of 1.2 million homes. <h2 style="text-align:left;">Sales price forecasts</h2><style>td,
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<div style="overflow-x:auto;" align="center"><table cellspacing="0" cellpadding="0" border="1" align="left"><tbody><tr class="red"><th scope="col">Sales price growth (% pa)</th><th scope="col">2025</th><th scope="col">2026</th><th scope="col">2027</th><th scope="col" data-role="resizable">2028</th><th scope="col">2029</th><th scope="col">Change 2025-29</th><th scope="col">Average pa 2025-29</th></tr><tr><td>UK</td><td>3.5</td><td>4.0</td><td>4.5</td><td>3.5</td><td>3.0</td><td>19.9</td><td>3.7</td></tr><tr><td>Greater London</td><td>2.5</td><td>3.5</td><td>5.0</td><td>5.0</td><td>4.0</td><td>21.6</td><td>4.0</td></tr></tbody></table></div>Source: JLL Research A new government with ambitious plans for housebuilding and more comfortable with a higher tax environment, particularly for wealthier households, could mean future growth prospects differ from the recent past. But neither of the these seem a sufficient
 departure from the current trend to meaningfully change the path of growth over the coming five-year period (2025-2029). We do expect higher rates (even if they fall back from current levels) will limit growth prospects, meaning our 2025-2029 forecasts sit at the lower end of the recent five year averages. We expect growth of 19.9% nationally 2025-2029. London house prices are expected to increase by 21.6% over the same period, underpinned by a lack of new homes reaching the market for sale. We expect lower value markets to see stronger growth towards the
 beginning of our five-year forecast period, with more expensive markets outperforming once the rate cutting cycle continues into 2026 and 2027.&nbsp; <h2 style="text-align:left;">Rental forecasts</h2><style>td,
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<div style="overflow-x:auto;" align="center"><table cellspacing="0" cellpadding="0" border="1" align="left"><tbody><tr class="red"><th scope="col">Rental growth (% pa)</th><th scope="col">2025</th><th scope="col">2026</th><th scope="col">2027</th><th scope="col" data-role="resizable">2028</th><th scope="col">2029</th><th scope="col">Change 2025-29</th><th scope="col">Average pa 2025-29</th></tr><tr><td>UK</td><td>3.0</td><td>2.5</td><td>3.0</td><td>3.5</td><td>4.0</td><td>17.1</td><td>3.2</td></tr><tr><td>Greater London</td><td>2.5</td><td>3.0</td><td>3.5</td><td>4.0</td><td>4.0</td><td>18.2</td><td>3.4</td></tr><tr><td>UK BTR</td><td>3.0</td><td>3.5</td><td>3.5</td><td>4.5</td><td>4.5</td><td>20.5</td><td>3.8</td></tr></tbody></table></div>Source: JLL Research In the five years to September 2024 rents rose nationally by 27%. But the rapid rise in rents in the last three years isn&rsquo;t reflective of the long-term trend.&nbsp; Five-year growth figures in early 2020 sat at around 12%, when rents broadly tracked
 wage growth. The supply demand imbalance which has in part driven rent rises (wage growth and inflation also contributed) is now becoming more balanced, but a lack of new stock entering the market means we anticipate rental growth will exceed wage growth and inflation
 over the next five years. The October Budget did little to change our view.&nbsp; Capital Gains Tax for residential property remained the same, meaning exit costs didn&rsquo;t rise, but entry costs did.&nbsp; Landlords looking to purchase homes now having to pay an additional
 2% stamp duty over the previous already elevated bill. We expect this will mean more traditional buy-to-let landlords will leave the market than enter over the next five years. But activity in the sales market is expected to increase too, likely meaning an increase in tenants moving across into owner occupation, alleviating some demand side pressures in the short term.&nbsp; JLL forecast UK rents will rise 17% over the next five years, with rental growth in the London expected to total 18% over the same period.<h2 style="text-align:left;">What to watch</h2><ul><li style="text-align:left;">EPC C by 2030 &ndash; Around half of all privately rented homes nationally are EPC D or below.&nbsp; As we move closer to the 2030 deadline, we expect some landlords will offload less efficient stock or remove properties from the
 market to retrofit to meet the new standard. Expect rents to rise in the run up as stock levels fall. For sales, landlords selling properties could bring more lower value homes to the market impacting average prices. </li><li style="text-align:left;">Renters Right Bill &ndash; Current proposals include the provision for tenants to challenge market busting rental increases. Our forecast for lower annual increases will help cushion the impact here but may limit the potential for
 growth in some markets, particularly if the courts are overwhelmed with applicants. Landlords concerned around the impact of the bill could also chose to exit the market, particularly as the sales market improves. </li><li style="text-align:left;">Buyer incentives &ndash; With the stamp duty threshold returning to its previous &pound;300,000 level for first time buyers next spring there was surprisingly little in the budget to incentivise buyers.&nbsp; However, there was reference
 to Phase 2 of the Spending Review in Q2 2025, so we could see further incentives or concessions introduced then. </li><li style="text-align:left;">Rates &ndash; A more rapid fall in mortgage rates could mean higher value markets see stronger growth earlier. </li><li style="text-align:left;">Housebuilding &ndash; The government has ambitious plans for new homes.&nbsp; We do expect activity to increase but still assume starts will lag the 1.5 million target. Our current forecast accounts for stock scarcity in the new homes
 market towards the start of the five-year period with new development activity not expected to be sufficiently high to have any negative impact on prices. </li><li style="text-align:left;">International buyers and prime London &ndash; Changes to non-dom rules and increases in SDLT on additional properties mean higher costs for overseas buyers. But a lack of stock, particularly of new homes, means those who are in the
 market may find choice scarce and competition for the best stock remains strong.&nbsp;</li></ul>

JLL Residential Forecast 2025-2029

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Houses prices expected to rise by 20% in the next five years as lower mortgage rates bring buyers back to the market. Rental growth slows from recent highs.

Houses prices expected to rise by 20% in the next five years as lower mortgage rates bring buyers back to the market. Rental growth slows from recent highs.

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The announcement on additional borrowing had already unsettled investors in the run up to the budget, driving government borrowing costs to a five-month high.&nbsp; But leaks and briefings on some key policies pre-Budget appear to have had the desired
 effect meaning we&rsquo;re still below post mini-budget levels.
For housing there was little evidence of some of the much-speculated changes we heard rumour of in the run up. Some will see this as a missed opportunity.&nbsp; But this is far from the worst-case scenario many had feared. And clarification on government
 plans, or at least an end to pre-budget speculation, should bring more prospective buyers back to the market.
After all, the housing market looks to be in decent shape.&nbsp; Mortgage approval figures in September were at their highest for more than two years, with lower rates bringing more prospective buyers back to the market.&nbsp; Prices are edging up in
 response and activity across the market is recovering, too.
So what was in the budget for housing? 
<h2>UK economy on the path to recovery</h2>
The latest figures from the Office for Budget Responsibility (OBR) suggest the UK economy will grow by 1.1% this year and by 2.0% in 2025 in real terms. Inflation (CPI) is expected to sit marginally above the 2% target each year until 2029. 
<h2>Stamp Duty Land Tax (SDLT)</h2>
Changes to stamp duty rules mean those purchasing properties in addition to their main residence (buy-to-let and second homes) will now pay a 5% rather than 3% surcharge. Adding &pound;10,000 to the stamp duty bill for a &pound;500,000 home. 
The single rate of SDLT charged on the purchase of dwellings costing &pound;500,000 or more by corporate bodies will also rise from 15% to 17%. 
Increases in rates were not necessarily viewed as a significant revenue raiser (an extra &pound;400 million by 2029/30) but would rather level the playing field between first time buyers and investors. But extra stamp duty for additional properties was
 not accompanied by an increase in incentives for first time buyers, with nothing in the budget on the first time buyer zero rate thresholds, which are due to drop back from &pound;425,000 to &pound;300,000 in April 2025. Instead, the government has
 committed to consult the industry on extending the mortgage guarantee scheme, effectively a 5% deposit scheme for first time buyers. News on that is promised in Phase 2 of the Spending Review next Spring.
<h2>Capital Gains Tax (CGT)</h2>
Tax on gains for residential property were left at their current level of 18% for lower rate and 24% for higher rate tax payers. Disposal of other assets, including shares, was normalised with residential property at 24%. With suggestions that &lsquo;normalisation&rsquo;
 could have been imposed with income tax rates, this should add some comfort to those in the sector. &nbsp;
<h2>Affordable housing</h2>
The government reaffirmed its commitment to deliver more affordable homes.&nbsp; A &pound;500million top up was promised for the Affordable Homes Programme and a consultation for an ongoing five-year rent settlement at CPI+1 (guaranteeing the rent cap
 on the amount providers can charge) was announced.&nbsp; Those wanting clarity on future grant investment will need to wait until the Spending Review in Q2 next year.
<h2>Right to Buy</h2>
Discounts for those purchasing through Right to Buy scheme will be reduced and councils in England will be able to keep all the receipts from sales to deliver new homes. This will need further investment to stem the loss of social housing through the
 scheme, with the latest annual figures showing 3,046 homes started using Right to Buy receipts versus 6,275 sold. 
<h2>Inheritance tax (IHT)</h2>
The Chancellor announced current inheritance tax thresholds will be frozen until 2030, two years ahead of plans pre-budget. This means individuals can continue to leave &pound;325,000 free of tax, rising to &pound;500,000 if leaving your home to your
 children. Couples can inherit each other&rsquo;s allowance, meaning if you tick all the boxes &pound;1million can be left free of IHT. 
But new rules will bring previously exempt assets into play, meaning pensions, which had been IHT exempt, will fall within the totals from April 2027. Owners of agricultural and business property, again previously able to benefit from exemptions, will
 from April 2026 need to consider their liabilities over certain thresholds, although allowances will mean an effective rate of 20% rather than 40%. 
<h2>Housing supply</h2>
We&rsquo;ve already heard from the government on its plans for delivering more homes, so perhaps a lack of detail within the budget was to be expected. The government committed &pound;5bn to their housing building programme in 2025/26 and repeated its
 commitment to provide 300 new planners (effectively less than one per authority), but the new planning framework (NPPF) due at the end of the year is expected to fill in some further gaps here. 
<h2>Non-doms</h2>
As expected, the government announced it will end current non-domiciled tax rules from April 2025 and introduce a new residence-based system. For those looking to bring assets into the UK, the government will extend the temporary repatriation facility
 from two to three years. This isn&rsquo;t new, and follows similar plans announced under the Conservatives. The budget confirmed that only gains made after April 2017 will be considered as part of the new proposals, but the door is still open for
 government to bring worldwide assets within the scope of UK inheritance tax.
<h2>What we missed</h2>
With the government having already announced plans to reinstate ambitious housing targets post-election we had hoped the budget would include some news on stimulus for demand. Yet incentives for home purchase, changes to stamp duty land tax (aside from
 the increase for additional properties) and the reintroduction of Multiple Dwellings Relief were conspicuous in their absence this time around. 
More positive news on the UK economy and further interest rate cuts expected before the end of the year will likely support house price growth. But while we acknowledge increasing demand when supply remains low could challenge affordability further, the
 government needs to reassure developers and investors that there will be a market for a higher number of new homes they&rsquo;ve committed to deliver.&nbsp;

Residential Roundup – Budget Special

With the plans from the first Labour Budget in 14 years expected to bring in an extra &pound;40bn &ndash; read Marcus Dixon&rsquo;s overview of what was included for housing, in this week&rsquo;s Residential Roundup.

With the plans from the first Labour Budget in 14 years expected to bring in an extra £40bn – read Marcus Dixon’s overview of what was included for housing, in this week’s Residential Roundup.

The first Labour Budget in 14 years was never going to please everyone. This was a tax raising Budget, with the Chancellor&rsquo;s plans expected to bring in an extra &pound;40bn. Employers will be shouldering much of the financial responsibility, with funding public services core to Labours plans.

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Residential Roundup

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<div>There are few who would question the need to deliver more homes. Research from Centre for Cities suggests Britain has a 4.3 million home deficit compared with the average European country. Meaning we would need to build almost 450,000 homes per annum over the next 25 years to satisfy future demand and address the historic deficit. At present we struggle to hit 200,000.</div>

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Residential Roundup - 1 September

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<div class="row">
 <h2>Q2 2023 Sales Index </h2>
</div>
The JLL Prime Central London Index saw prices fall for the third consecutive quarter.&nbsp; The Q2 2023 index recorded a quarterly fall of 2.1%, with prices 5.9% down compared with the same period in 2022. Prices are now 6.8% lower than
 they were when prices peaked in the third quarter last year.&nbsp; 
The upper echelons of London&rsquo;s prime market are proving more resilient. With prices down 0.8% in the 12 months to June 2023 compared with a 6.7% fall in homes priced at under &pound;2 million (likely to be most impacted by changes in interest rates).

Despite sentiment impacting prices we saw deals agreed (exchanges) increase in an admittedly slow Q1 this quarter, with a 28% increase in sales in Q2 2023.&nbsp; With volumes on par with Q2 2022 (down -1.2%). 
Stock levels rose in Q2, with 8.3% more properties on the market than in Q2 2022 and 9.7% more than at the end of the first quarter this year. Stock on the market is now at the highest level since the end of Q2 2020. 
<h2>Q2 2023 Lettings Index</h2>
The uncertainty which is hampering activity in the sales market often has the opposite effect on lettings. With households more likely to stay in rented for longer or choosing to rent when delaying their decision to buy. Just over half
 (51%) of JLL deals agreed in Q2 2023 were renewals, up from 45% a year ago and 24% in Q2 2021. This was the highest rate of renewal since Q2 2020. 
The number of new lets rose this quarter compared with last, up 13%.&nbsp; But the second quarter is usually more active than the first. Comparing new lets agreed (excluding renewals) in the second quarter this year with Q2 last year showing there were
 18% fewer deals agreed, with the number agreed down 35% compared with the Q2 five-year average.
This quarter the JLL Prime Central London Index saw rents rise by 1.9%, with rents 5.4% higher than they were at the same point a year ago. Small flats (1 and 2 beds) saw this highest annual increase in rents at 6.7% whereas more expensive properties
 (&pound;3,000 per week or more) saw a more modest 2.9% annual increase. 
Rents are now 26% higher for one-bedroom flats (which have seen the highest growth) than they were three years ago at the end of Q2 2020. With the JLL Prime Central London Rental Index 19.2% higher overall over the last three years.
For prospective tenants having to contend with low stock levels there appears to be some respite as we move into the summer. Stock levels are starting to increase, albeit off a low base. With the number of rental properties listed to let at the end of
 Q2 2023 up 13.8% on the same point in 2022. But volumes remain 55% down on levels we were seeing pre-pandemic in Q2 2019. 
<h2>All Source: JLL/ LonRes</h2>
Our JLL Prime Central London Index is based on a &lsquo;basket&rsquo; of properties, valued by JLL at the end of each quarter. 
Director of UK Residential Research at JLL, Marcus Dixon, explains: 
&ldquo;The implications of stubborn inflation on the UK mortgage market are hampering activity in prime central London. While fewer buyers are heavily indebted - almost half buy cash - uncertainty surrounding the short-term outlook is impacting prices. 
&ldquo;The lettings market remains competitive, stock levels have improved on their 2022 lows but there are still more prospective tenants than there are properties. This has resulted in further rent increases this quarter, with rents almost 20% higher than they were in 2020.
&ldquo;The lower end of the rental market continues to see a steady stream of (formerly) prospective buyers moving across into lettings. With smaller properties, mainly one- and two-bedroom flats, recording the highest annual increase in rents, while prices for similar properties are seeing more significant falls than homes in more expensive price bands.&rdquo;

JLL – Prime Central London (PCL) Index – Q2 2023

The recent rise in interest rates does not impact all sectors of the housing market equally.

Prime Central London (PCL) Index – Q2 2023

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The Renters (Reform) Bill was introduced to parliament on 17th May 2023. It follows the 2022 private rented sector white paper, which outlined the government&rsquo;s aspirations for the future of privately rented homes. The bill aims to deliver on the
 government&rsquo;s plan to &ldquo;bring in a better deal for renters&rdquo;, which includes the ending of &lsquo;no fault&rsquo; evictions. These changes of course have implications for landlords too, but the bill aims to allay some of their concerns
 by strengthening Section 8 powers under which landlords can recover their properties.Further regulation includes proposals for a new property portal and rental redress scheme, which aim to make it easier for landlords and tenants to resolve issues and for councils to track and penalise rogue landlords. For landlords, increased use of
 Section 8 could also make it easier to identify tenants with a history of rent arrears and antisocial behaviour, aiding the tenant referencing process and mitigating risk for those taking on new tenants.But we are still at an early stage. The bill is entering the approval period, where questions on the detail behind the proposals can be answered and views sought. The bill must follow a set path before receiving Royal Assent and becoming law. The next
 step will be a second reading, giving MPs the opportunity to scrutinise the bill and make any amendments to the proposals. This will also be an opportunity for interested parties to contact their MP to put forward their views on the proposals.The bill must then progress through committee, parliament, and the House of Lords before details are agreed and Royal Assent is sought. This is a lengthy process, with the time from bills being introduced to becoming law often exceeding 12 months.<h2>Current proposals include:</h2>The end of the AST - Section 21 will be abolished, aiming to provide tenants with greater security. Fixed term tenancies will be scrapped, meaning a tenancy will end only if the tenant chooses to leave (usually by giving two months&rsquo;
 notice) or the landlord is able to provide a valid reason to end the tenancy. To assist with this Section 8 will be strengthened to allow landlords to recover their properties. From six months into the tenancy landlords may give the tenant notice
 (usually two months) to vacate if they are looking to move back into the property, sell or redevelop. Landlords can also gain possession if the tenant is in breach of their tenancy or falls into arrears.If implemented, it is likely changes will apply first to new tenancies, with existing tenancies transitioned across into the new structure within a pre-defined period. There are some exemptions for students lets, however this could we be one of the elements
 of the bill where we see some changes introduced.Annual rental reviews&nbsp;&ndash;&nbsp;Rental increases will be limited to one per year, with new powers for tenants to challenge above market rate rental increases through a tribunal.
Pets&nbsp;&ndash;&nbsp;Landlords must have reasonable grounds to refuse a tenant the right to request a pet in their rented property. It is not yet clear what constitutes &lsquo;reasonable grounds&rsquo;,
 hopefully this will become clearer as the process progresses, but tenants who are refused can use the new redress scheme to refer the final decision to the ombudsman. For landlords, existing regulations will be strengthened to ensure tenants are liable
 for any damages caused by their pets.Redress scheme &ndash; Proposals for a single redress scheme for both landlords and tenants. The ombudsman will provide a free service if tenants have complaints regarding their landlord, the standard of the property, or any outstanding
 repairs. Under current proposals landlords would not be able to make a complaint about a tenant to the ombudsman but they could be offered mediation services to settle disputes between them and their tenants. Landlords would be required to join the
 scheme with local councils empowered to take enforcement action against those who fail to sign up. Lettings agents will not be required to join.New property portal &ndash; Landlords will need to sign up to a new property portal. This will be a digital record of the landlord and their properties. Landlords will need to be registered and keep records on themselves and their rental
 properties up to date to legally market a property to let. Proposals are for councils to have access to the portal to enable them to flag any unspent offences or restrictions in the landlord&rsquo;s name.More detail on the bill can be found <a href="https://www.gov.uk/guidance/guide-to-the-renters-reform-bill" target="_blank">here</a>.Our team here at JLL will keep you updated throughout the process and are here to answer any questions you may have on the bill or the implications for you as a landlord or tenant.<h2>JLL Research | June 2023</h2>JLL is a leading global professional services firm specialising in real estate and investment management, with $16.6bn annual revenue in 2020, operations in over 80 countries and a global workforce of over 90,000. With over 7,000 employees and 15 offices
 in the UK, we support our investor, developer and occupier clients at every stage of the property lifecycle across both commercial and residential asset classes. This includes land purchase, access to capital, planning, development advisory, leasing,
 building management and sales.JLL&rsquo;s Residential and Living team consists of over 300 professionals who provide a comprehensive end-to-end service across all residential property types, including social housing, private residential, build to rent, co-living, later living, healthcare
 and student housing.&nbsp;Disclaimer: &copy; 2023 Jones Lang LaSalle IP, Inc. All rights reserved.Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or
 warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any
 form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves
 the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.

Renters Reform Bill

The Renters (Reform) Bill was introduced to parliament on 17th May 2023. It follows the 2022 private rented sector white paper, which outlined the government&rsquo;s aspirations for the future of privately rented homes.

The Renters (Reform) Bill was introduced to parliament on 17th May 2023. It follows the 2022 private rented sector white paper, which outlined the government’s aspirations for the future of privately rented homes.

market-update-may-23

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The housing market remains more resilient than many had anticipated. The latest results from the RICS Survey show market conditions remain challenging, with agents still expecting prices to fall in the coming months in response to higher borrowing costs and uncertain market sentiment. But the outlook for the next 12 months remained more positive. Over the longer term there is a clear commitment from both Labour and the Conservatives to support home ownership. But until we see rates top out, we expect the market to continue to tread water. This means lower levels of activity, but prices will, we expect, remain more resilient as a lack of distress and high levels of equity act as a buffer to more challenging economic conditions. <h2>The economy</h2>The outlook for the UK economy is improving, with the IMF upgrading their 2023 UK forecast. Echoing recent announcements from the Bank of England the IMF no longer expects the UK will fall into recession this year, with their latest forecasts expecting
 GDP will rise in 2023. Growth is expected to be modest at +0.4% but reflects a welcome venture into positive territory following the previous -0.3% forecast in April. This improved outlook means the UK no longer sits at the bottom of the list of G7
 economies for 2023, now moving ahead of Germany.But inflation is still proving stickier than many had hoped. Rates have fallen, with single digit annual increases for the first time since August 2022. It was always anticipated that rates would drop back this month, with the impact of rising energy
 costs priced into rates a year ago, but the 8.7% annual increase remained higher than the Bank of England and many forecasters had anticipated.Further falls in energy costs in the coming months will help to bring inflation down further, but annual food price inflation remains at 19.1% according to the latest ONS figures.Core inflation (calculating the rise in costs when energy and food, alcohol and tobacco are stripped out) rose by 6.8% in the year to April, up from 6.2% in March. With the recent increase in five-year swap rates and stubbornly high inflation meaning
 a further rise in Bank Rate at the June MPC appears more likely.<h2>New development</h2>Activity in the new homes market remains muted. While schemes on site continue to deliver homes, levels of new starts have dropped and activity in the sector has been more subdued in Q1. The National House Building Council (NHBC) reported new build completions
 fell 7% annually in Q1 2023 but the number of new homes registered to be built fell 40% to less than 28,000. This follows news that new applications in 2022 fell 14% on 2021 levels, now at their lowest level since 2006, according to figures from the
 DLUHC. In London, Molior reports constructions starts down 43% on Q1 2022.<h2>House prices</h2>Considering the considerable change that has been thrust upon the UK housing market this year it remains remarkably robust. Activity has dropped back, but we are starting to see the reaction to the initial interest rate and sentiment shock following the
 mini budget recede, as prospective buyers re- enter the market. With time on the market and mortgage approvals all starting to recover from the lows of late 2022 and early 23.Low levels of unemployment, wage growth (albeit mostly below inflation), and more equity within the market all mean forced sales are less prevalent. But for those who are looking to transact in this market there does need to be some realism about prices
 and additional cost facing purchasers.The latest Land Registry figures show all regions saw a monthly fall in prices in March, with prices UK wide 1.2% lower than in February, the fourth consecutive monthly fall. Prices are now 2.4% below their November peak but remain 4.1% higher than they
 were a year ago.After seven consecutive monthly falls the Nationwide reported house prices rose 0.5% in April, but prices dropped back marginally in the latest May figures, down 0.1% month-on-month with prices falling annually by -3.4%, now -4% lower than they were at
 the peak last summer. The Halifax reported at -0.3% fall in April, following a rise of 0.8% the previous month, with prices on par (+0.1%) with April 2022. First time buyer activity is proving more resilient than expected, with a competitive rental
 market driving those who can to buy instead.Falls in achieved prices show higher rates and rising costs are impacting the housing market, although both activity and prices appear more resilient than many had expected. The latest figures from Rightmove show asking prices rose in May, up 1.8%, higher
 than the usual 1.0% May figure.Uncertainty over rates appears to have put the brakes on the recovery in mortgage approvals posted in March. Seasonally adjusted figures from the Bank of England showing the number of mortgages approved for house purchase fell by 5%, from 51,500 in March
 to 48,700 in April. The average rate on new mortgages rose to 4.46% in April, up 5 basis points on March figures. Overall borrowers repaid &pound;1.4bn more than was lent in April 2023, which aside from the pandemic was the biggest net repayment on
 record.<h2>Rents</h2>The rental market continues to record near double digit growth in rents on new lets. The Homelet Rental Index showing annual rental growth remains strong at 9.9% across the UK in April 2023, with a current average rent of &pound;1,199, 1.3% higher than
 the March figure. London saw rents rise annually by 11.0%, with average rents on new lets exceeding &pound;2,000 per month. Scotland saw the highest annual increase, with rents on new lets rising 12.1%.<h2>Global view</h2>In the US, the Federal Reserve increased its key interest rate by 25 basis points, pushing its benchmark rate to between 5% and 5.25%. This is the tenth time rates have increased since March 2022. Rates could be topping out though with the Fed hinting
 at a pause on further rate rises when they next meet in June.Singapore has announced a doubling of its Additional Buyer Stamp Duty. Overseas buyers purchasing a property in Singapore will now pay 60% tax on their purchase, with those buying using a trust will pay 65%. Permanent residents buying second homes in
 the city will also pay more.<h2>What&rsquo;s new from JLL</h2>Our latest Prime Central London report shows rents rose again in Q1 2023, but prices have dropped 4.3% compared with Q1 2022. Read more <a href="https://residential.jll.co.uk/insights/research/prime-central-london-q1-2023">here </a><h2>JLL Research | May 2023</h2>JLL is a leading global professional services firm specialising in real estate and investment management, with $16.6bn annual revenue in 2020, operations in over 80 countries and a global workforce of over 90,000. With over 7,000 employees and 15 offices
 in the UK, we support our investor, developer and occupier clients at every stage of the property lifecycle across both commercial and residential asset classes. This includes land purchase, access to capital, planning, development advisory, leasing,
 building management and sales.JLL&rsquo;s Residential and Living team consists of over 300 professionals who provide a comprehensive end-to-end service across all residential property types, including social housing, private residential, build to rent, co-living, later living, healthcare
 and student housing.Disclaimer: &copy;2023 Jones Lang LaSalle IP, Inc. All rights reserved.Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations
 or warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in
 any form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL
 reserves the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.

JLL Residential Market Update – May 2023

The housing market remains more resilient than many had anticipated. The latest results from the RICS Survey show market conditions remain challenging, with agents still expecting prices to fall in the coming months in response to higher borrowing costs and uncertain market sentiment. But the outlook for the next 12 months remained more positive.

The housing market remains more resilient than many had anticipated. The latest results from the RICS Survey show market conditions remain challenging, with agents still expecting prices to fall in the coming months in response to higher borrowing

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Spotlight on Cambridge

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JLL Residential - Spotlight on Cambridge&nbsp;

JLL Residential - Spotlight on Cambridge

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Affordable and attractive London hotspots for First Time Buyers

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House prices have risen significantly nationally over the last three years, and it feels as if the first step onto the housing ladder has become more challenging. Despite this, the dream of owning their first home for many is not dwindling.

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A higher proportion of homes bought with cash and a sustained lack of stock in the most sought-after locations means Prime Central London (PCL) is less tied to fluctuations in UK mortgage rates. However, the central London market is not
 immune to changes in economic conditions, with sentiment rather than interest rates often having a greater impact on activity and pricing. And while Prime Central London is less reliant on debt the discretionary nature of many purchasers buying decisions
 means PCL is often more reactive to changes in sentiment and economic headwinds than mainstream, both when prices fall and when they increase.
&nbsp;For the rental market, uncertainty often increases demand with prospective purchasers holding off on their decision to purchase and renting or remaining in rented instead. We continue to see demand outstripping supply for prime homes, but there
 is more balance in the market this year than we have seen over the last 12 months. Stock levels, while still significantly lower than the pre-pandemic norms have improved, and rental growth recorded in the Q1 2023 JLL Prime Central London Index has
 returned to single rather than double digit annual growth.
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Prime Central London – Q1 2023

jll-residential-market-update-april-2023

How has the Prime Central London (PCL) housing market performed so far this year, and how much of an impact will the ongoing economic headwinds have on the sector?

How has the Prime Central London (PCL) housing market performed so far this year, and how much of an impact will the ongoing economic headwinds have on the sector?

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Inflation remained stubbornly in double digits (just) in March. With a rate of 10.1% meaning expectations of
 a further rate rise at the next MPC meeting are looking more likely. Consensus amongst forecasters is for rates
 to now top out higher than the 4.25% to 4.5% anticipated earlier in the year. Albeit, then expected to fall back
 later this year. Confidence in the UK economy is returning, with ratings agency S&amp;P Global upgrading the UK
 rating, reversing the post mini-budget downgrade, as well as reaffirming the AA rating for UK debt.News is mixed on the jobs front too. Unemployment edged up in March to 3.8%, from 3.7% in February. The number of
 payrolled employees is rising, with figures showing a million more payrolled workers nationally in March 2023
 compared with pre-pandemic
 in March 2020 (a 3.5% increase). Rates had risen the most in London (+4.0%) and Northern Ireland (+5.0%) in the
 three years to March. Despite this the job market has been slightly less frenetic than it has been of late, with
 government figures showing
 the number of vacancies fell for the ninth consecutive month in March, albeit at 1.1 million they remain higher than
 the pre-pandemic norms. Wage growth in the three months to February averaged 6.6%. But spending power continues to
 be eroded by increases
 in living costs, particularly food and energy, with real wages (accounting for inflation) dropping 2.3%.<h2>Sales market</h2>The latest figures on house prices show quite a spread in performance between indices, with the Nationwide figures
 for March suggesting an annual fall of 3.1%, with prices falling for the seventh consecutive month. Figures from the
 Halifax put prices
 in March 1.6% higher than they were a year ago, up 0.8% on the previous month (Nationwide is reporting a 0.8%
 monthly fall). The Land Registry, tracking completions and usually less reactive to changes in the market, is
 reporting February figures,
 with prices down 1.0% monthly but still showing an annual increase of 5.5%.But the consensus amongst agents is that prices have softened so far this year. The latest RICS survey suggesting
 respondents were more likely to have seen houses prices fall in their market in the last three months, with the net
 balance -47% for the
 UK and -43% for London.According to the RICS survey, demand for homes remained more subdued in March too.&nbsp; More agents reported a
 reduction in new buyer enquiries, with the net balance relatively unchanged from the previous month at -29%
 nationally. London respondents
 reported a fall in new buyer enquiries too, but results were less clear cut, with a net balance of -7% seeing fewer
 buyers.<h2>The mortgage market</h2>Just over 40,000 loans were approved for house purchase in February, 37% up on the lows of January 2023 but still 37%
 down on volumes last February and 18,000 (31%) shy of February 2019 levels. Yet despite further rises in the Bank
 Rate, fixed rates offered
 by lenders are more competitive, with both two- and five-year fixed rates at their most competitive since the
 mini-budget in March 2023, with rates sub 4.3% for a two-year fix and below 4.8% for a five-year according to
 figures from the Bank of England.<h2>The rental market</h2>Rents are still rising nationally.&nbsp; The latest figures from Homelet show all UK regions saw rents rise both
 annually and month-on-month. UK rents rose to a new high of &pound;1,184 per month, up 0.8% on February 2023 and
 9.8% on March 2022. London
 recorded the highest annual increase of any UK region, with rents up 0.2% monthly and 11.8% annually in March.Tenant demand nationally continues to be strong. The non-seasonally adjusted net balance is at a five months high of
 +46%, while landlord instructions still lag, with more agents reporting landlord instructions falling in the last
 three months. In London,
 market conditions are similar, with more agents reporting an increase in tenants registering (the net balance
 increased from +31% to +40% month-on-month) and landlord instructions failing to keeping pace with demand, with a
 net balance of -20% in
 March. A shortage of stock combined with strong demand is expected to put additional pressure on rents. The
 near-term rent expectations balance (those expecting them to rise) increased from +45% to +59% month-on-month.<h2>Forecasts</h2>JLL forecasts remain unchanged. We anticipate price falls in most markets this year as purchasers try to balance
 increases in living costs and higher interest rates. But with significant levels of equity and a resilient
 employment market we expect these
 falls to be limited to single digits in 2023. Rents are forecast to rise in all markets this year, supported by
 increases in wages and supply shortages. <h2>JLL Research | April 2023</h2>JLL is a leading global professional services firm specialising in real estate and investment management, with
 $16.6bn annual revenue in 2020, operations in over 80 countries and a global workforce of over 90,000.&nbsp; With
 over 7,000 employees and 15
 offices in the UK, we support our investor, developer and occupier clients at every stage of the property lifecycle
 across both commercial and residential asset classes. This includes land purchase, access to capital, planning,
 development advisory,
 leasing, building management and sales.JLL&rsquo;s Residential and Living team consists of over 300 professionals who provide a comprehensive end-to-end
 service across all residential property types, including social housing, private residential, build to rent,
 co-living, later living, healthcare
 and student housing.&nbsp;Disclaimer: &copy; 2023 Jones Lang LaSalle IP, Inc. All rights reserved.Data within this report is based on
 material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no
 representations or warranties as to
 the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a
 general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any
 form or by any means
 without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability,
 damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL
 reserves the right to pursue
 criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.

JLL Residential Market Update – April 2023

Inflation remained stubbornly in double digits (just) in March. With a rate of 10.1% meaning expectations of a further rate rise at the next MPC meeting are looking more likely.

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2022 was a record-breaking year for Prime
Central London (PCL). Buyers spent almost &pound;5.2
billion on homes last year, 9% higher than in
2021, already a strong year, and the highest
amount spent for more than ten years. Even in
2014, when sales reached &pound;4.94 billion, 5% less
was spent than in 2022.<a href="https://res.cloudinary.com/drt5ol8ck/image/upload/v1673866400/videos/APAC%20Articles/JLL_PCL_Report_Q4_2022.pdf" target="_blank">Download report </a>

Prime Central London Report - Q4 2022

thumbnail_Cover Photo - UK Report

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<a href="https://storymaps.arcgis.com/stories/5c2aeccd86c64c6abe619f4e73b8b183" target="_blank"><button class="Button primary">View the full report</button></a> The JLL Big Six Residential Report compares activity, prices, and rents across six UK cities outside London: Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester. This report incorporates data from the JLL UK Cities index, comparing changes in prices and rents across mainstream and prime developments in each city. In the last ten years UK cities have recorded some of the highest increases in new residents. Figures from the 2021 census show that across England &amp; Wales more than 33.6 million people, over 56% of the population, lived in cities, 2 million more
 than in 2011. With the pandemic accelerating the adoption of hybrid working some questioned the future of urban living. But the influx of new residents heading for our regional cities proves there is more to city living than just the attraction of a short commute.
Demand for homes has risen across our Big Six cities this year. Back in 2020 and early 2021 we saw an acceleration in the number of households looking to leave urban areas and escape to the country. Yet 2022 has firmly signalled the return to the city.
 Students and young professionals are returning in their droves. Rents have risen this year across all our Big Six cities and the new homes market, both build-to-sell and build-to-rent has seen activity increase too. Help to Buy has been a key source of demand for city centre new build over the last ten years. Across the four English cities, over 13,200 equity loans have been issued on Help to Buy homes since the beginning of the scheme. &nbsp;But with 31 October
 marking the end of Help to Buy registrations nationally we were already anticipating interest from first-time buyers would fall in 2023. Combine this with recent rate rises and we expect the number of first-time buyers could fall further.&nbsp;But
 with fewer households buying homes we anticipate demand for rental properties will increase. Almost 100,000 homes have been completed in the city centres of the Big Six in the last ten years. Demand for homes has meant prices achieved in the last three years have risen by an average of 14.6%. The JLL Cities index, which values new flats in each city shows prices have risen by between 4.9% and 17.6%. Demand for rental properties has increased too. With rents rising by an average of 15.4% across the Big Six. Leeds recorded the highest annual increase in rents, with scarcity of stock pushing average rents for new homes in the city up by more than 20%
 in summer 2022 compared with the same period a year earlier.&nbsp;<a href="https://storymaps.arcgis.com/stories/5c2aeccd86c64c6abe619f4e73b8b183" target="_blank"><button class="Button primary">View the full report</button></a>

Big Six Residential Development Report

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The JLL Big Six Residential Report compares activity, prices, and rents across six UK cities outside London: Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.

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&nbsp;
The last 15 years have seen UK house prices reach new highs on the back of a period of record low borrowing costs. Never prior to 2008 had the UK base interest rate dipped below 2%. But in the period since the Global Financial Crisis (GFC) it has averaged
 0.5% and hit a low of 0.1% during Covid.
<h2>Interest Rates</h2><iframe src="https://flo.uri.sh/visualisation/11644913/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:600px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
 A spike in borrowing costs &ndash; and an anticipated further steep rise in mortgage rates - alongside continued high inflation and a rising cost-of-living have prompted predictions from the most bearish forecasters of 20%-30% falls in UK house
 prices. 
But UK house prices have never fallen by more than 20%. And this prompts a question of whether the underlying market prospects are now truly worse than the early 90s recession where house prices fell 20% cumulatively between 1989 and 1993; and the GFC
 where prices fell by 15% between January 2008 and May 2009.&nbsp;&nbsp;
&nbsp;
<h2>House price crashes have been rare in the UK</h2><iframe src="https://flo.uri.sh/visualisation/11645505/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:600px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
In the early 90s, inflation was high (like today) and GDP was low and falling into negative territory (like today). But, a key differentiator was that unemployment was extremely high at circa 10% in the early 1990s &ndash; today it is at a record low
 of 3.5%. And while unemployment is expected to rise in the coming 18 months, it is expected to hit 4.9%, below the average of 6.7% since 1971 and the past 10-year average of circa 5.2%.&nbsp;
Meanwhile, the GFC was fundamentally a credit crisis built on poor lending practices through the early 2000s which saw people with poor credit history and no equity lent sums of money they could ill-afford to repay. Ultimately the &lsquo;house of cards&rsquo;
 collapsed, banks failed, millions lost their jobs and people were forced to walk away from mortgages they could never afford in the first place.
In the period since, lending practices have been tightened significantly &ndash; and the housing market is now built upon much stronger foundations.
<h2>Absence of distress</h2>
JLL analysis of the Bank of England Mortgage and Lending Report found that 62% of the UK&rsquo;s 8.4m mortgaged owner occupier households have at least 25% equity in their house. Another 34% have between 10-25% equity and 4% have between 5% and 10% equity.
Just 0.2% or circa 17,000 owner occupied households in the UK have less than 5% equity &ndash; and, statistically at least, there are no households with zero equity. Meanwhile, more than 95% of the circa 3m UK buy to let landlords who own with a mortgage,
 own at least 20% in their property.
<h2>Mortgage affordability</h2>
But ultimately the amount of equity the UK&rsquo;s homeowners possess only tells half of the story. An era of cheap borrowing is ending and mortgage affordability is about to become squeezed. However, mortgaged households in the UK have the highest incomes
 by tenure &ndash; averaging &pound;80,000 per annum. Before the recent rise in UK interest rates, the average household income spent on a UK mortgage was equivalent to 18%. With the average two-year fixed rate mortgage cost having risen to circa 6%,
 that income to mortgage expenditure percentage has risen to circa 27% - the level it was around the time of the Global Financial Crisis. And if mortgage rates hit 7%, the average household income to mortgage cost ratio would hit 30% - the rate it
 was in the early 1990s. But merely spending 30% of a household income on housing costs is not a reason to assume a collapse into distress. With low unemployment and the highest average incomes, the UK&rsquo;s mortgaged households have a more stable
 financial footing than the GFC or the early 1990s recession.
The vast majority should be able to ride out a squeeze on their household incomes avoiding the need to sell their home to make ends meet. But it will be a further extension of the current cost of living crisis.
Circa 1.1m households were on the current Standard Variable Rate coming into this recent rate rise. Another 1.2m households will come to the end of their fixed term over the next year. JLL calculates that those 2.3m households combined will be spending
 an additional &pound;8bn on mortgages by Q4 2023. This could ease some of the current high inflation, but it could also hamper GDP growth. The customers spending that extra on their mortgage would perhaps most likely be transferring that from their
 previous savings/investment allocations or from their typical discretionary spend on food, leisure and entertainment.
<h2>Low repossessions</h2>
Furthermore, banks currently have a low appetite for repossessions. In the early 1990s, banks repossessed circa 100,000 homes per annum. In the GFC the rate was about 50,000 per annum. Currently there are about 4,000 repossessions per annum which out
 of the UK&rsquo;s circa 11m mortgage properties represents a rate of about 0.04% per year. It takes two years to repossess a home &ndash; and in the current cost of living crisis, it could be a difficult public profile position to be seen to be adopting
 a repossession strategy. However, banks are a regulated entity so they cannot turn a blind eye to customer defaults. But there are other options that can be explored such as tracker rates or interest only periods and it is highly likely banks will
 exhaust all these options before pursuing a route of foreclosure.
<h2>Opportunistic buyers</h2>
Ultimately, we expect that there will be far less distress in the market as there was in previous crashes &ndash; as long as there is no sharp rise in unemployment.
But JLL predicts there will be a steep fall in UK housing transactions.
The number of First Time Buyers (FTBs) before the GFC typically totalled 400,000 per annum out of a total of circa 1.5m annual transactions.
Post GFC, FTBs fell to 325,000 and total transactions to 1.2m. JLL predicts there will now be circa 200,000 viable FTBs with sentiment among aspiring homeowners taking a hit, mortgage affordability becoming stretched to new homeowners and the ending of
 help to buy, which typically helped circa 50,000 FTBs onto the ladder per annum. This cocktail of transactional headwinds will see overall transactions fall to circa 1m in 2023.
The transactions that do occur will be dominated by slightly more motivated sellers (but not financially distressed) faced with a higher proportion of &lsquo;opportunistic&rsquo; buyers (such as cash buyers who will account for about 25% of all transactions,
 up from the current 18%). These opportunistic buyers will not expect to pay asking price. But the vendors who are not distressed will only accept a fall in values to a certain level &ndash; ie more of a discount than a fully blown correction and certainly
 not a crash.
<h2>Sluggish market</h2>
This dynamic will create a sluggish market in which buyers and vendors haggle over price and ultimately less transactional activity occurs with the supply of new homes for sale gradually becoming constrained.&nbsp;
Against this backdrop, JLL is forecasting that UK house prices will fall in value in 2023 by 6% which equates to an average discount of &pound;17,500 from the average UK house price of circa &pound;290,000.
Of course, as in any market, there will be winners and losers. Not all types of home, cities or regions will be impacted to same level.
On a regional level JLL&rsquo;s forecasts falls ranging from circa 4% across Greater London to around 8% in Wales, the North East and Yorkshire &amp; the Humber.
<h2>But transactions are forecast to fall sharply with price falls to follow</h2><iframe src="https://flo.uri.sh/story/1729166/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:600px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
<h2> Falling supply</h2>
However, in many of the housing supply constrained UK city centres, where there is a greater concentration of equity rich buyers, price growth is still expected.
Ultimately new housing supply is expected to fall even further behind target as a result of the tightening market conditions.
JLL forecasts that there will be a national shortfall of 610,000 homes over the next 5 years alone &ndash; up from JLL&rsquo;s previous expectations for an already stark shortfall of 500,000 homes. In London private new home starts are forecast to average
 circa 16,000 per annum &ndash; well below the Greater London Authority target for 52,000 new homes per annum.
<h2>And UK housing supply will continue to fall well short of targets</h2><iframe src="https://flo.uri.sh/story/1729214/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:600px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
<h2> Rental market</h2>
The current supply demand imbalance across the UK rental market looks set to endure as fewer households move across into owner occupation and demand for rental properties increases further.
We expect that prospective buyers, as well as those who would under normal circumstances have transacted under Help to Buy, will remain in the rental market. This adds further fuel to an already constrained rental market and will, we expect, mean the
 supply demand imbalance and resulting rental growth will continue. Rental growth is expected to be particularly strong at the front end of the five-year period before falling back in line with historic norms of circa 2% - 3% as inflation is brought
 back under control.
The outlook for investors is mixed. Demand for rental properties looks set to continue, and forecasts of rising rents and falling prices suggest we could see a rise in yields across the board. But the cost to service debt will remain a key issue for more
 highly indebted landlords.
The purpose-built UK BTR sector is expected to outperform the wider UK rental market in terms of rental value growth.
<h2>Economic Forecasts</h2><iframe src="https://flo.uri.sh/visualisation/11646570/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:400px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
 <iframe src="https://flo.uri.sh/visualisation/11646658/embed" title="Interactive or visual content" class="flourish-embed-iframe" frameborder="0" scrolling="no" style="width:100%;height:250px;text-align:center;" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe>
<h2> Forecasts</h2>

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<section>
 <div class="row">
 
 <div class="column-four height-100">
 <div style="max-width:540px;">
 <h2>UK House Price Growth (%pa)</h2><img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/picture3c661fa16-e344-4166-b880-888d9a918512.png?Status=Master&amp;sfvrsn=69cedcd0_1" sf-size="100" alt="" /></div>
 <div style="max-width:540px;">
 <div>
 <table class="table table-borderless k-table" align="center">
 <tbody>
 <tr>
 <td style="min-width:50px;width:20%;text-align:center;">2023</td>
 <td style="min-width:50px;width:20%;text-align:center;">2024</td>
 <td style="min-width:50px;width:20%;text-align:center;">2025</td>
 <td style="min-width:50px;width:20%;text-align:center;">2026</td>
 <td style="min-width:50px;width:20%;text-align:center;">2027</td>
 </tr>
 <tr>
 <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">-6</td>
 <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">1</td>
 <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">4</td>
 <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">5</td>
 <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">5</td>
 </tr>
 </tbody>
 </table>
 <h2>Cumulative Growth</h2>
 8.9%
 </div>
 </div>
 </div>
 

 <div class="column-four height-100">
 <div style="max-width:540px;">
 <h2 style="color:black;">UK Rental Value Growth (%pa)</h2><img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/picture2a3722ef1-673e-4ce1-bb95-44b6dae7a33a.png?Status=Master&amp;sfvrsn=cdbed46_1" sf-size="100" alt="" /></div>
 <div style="max-width:540px;">
 <table class="table table-borderless k-table" align="center">
 <tbody>
 <tr>
 <td style="min-width:50px;width:20%;text-align:center;">2023</td>
 <td style="min-width:50px;width:20%;text-align:center;">2024</td>
 <td style="min-width:50px;width:20%;text-align:center;">2025</td>
 <td style="min-width:50px;width:20%;text-align:center;">2026</td>
 <td style="min-width:50px;width:20%;text-align:center;">2027</td>
 </tr>
 <tr>
 <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">4</td>
 <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">3.5</td>
 <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">2.5</td>
 <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">2.5</td>
 <td style="min-width:50px;width:20%;font-size:24px;font-weight:600;text-align:center;">2.5</td>
 </tr>
 </tbody>
 </table>
 <h2>Cumulative Growth</h2>
 15.9%
 </div>
 </div>
 </div>
</section>
 Forecast disclaimer -&nbsp;Forecasting is a complex task at the best of times, but with so many moving parts making predictions in the past six months has been made all the more difficult. As always, we at JLL will continue to revisit our forecasts on a regular basis.
Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved. Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.

JLL UK House Price Forecasts - Housing set for a correction, not a crash

correction not crash

Housing set for a correction, not a crash

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<h3>An oversea buyer&rsquo;s guide to investing in Prime properties in London, UK</h3>Luxury properties in Prime Central London (PCL) present a solid investment opportunity for overseas buyers.The financial and political stability that London affords means that, with the right advice and preparation, investing in London property could result in a springboard for your investment portfolio, a secure pension, or a route to setting your family
 up for the future. Whatever your investment goals, this expert guide is designed to help. Explore the potential opportunity when investing in Prime Central London real estate, the attractions
 that make PCL such a desirable place to buy, and the mechanics of buying a UK property as an overseas investor or non-UK citizen.&nbsp;<h3>What is the size of the opportunity in Prime London properties for an investor?</h3>Prime Central London real estate &ndash; sales growthAccording to the <a href="https://residential.jll.co.uk/insights/news/prime-central-london-q1-2022">JLL Prime Central London Sales Index</a> &ndash; our quarterly study into how the PCL market is performing, there was a 3.3% annual
 increase in achieved prices in Q1 2022, with prices up 0.6% on Q4 2021. Achieved prices for Q1 2022 came in at 4.7% higher than pre-pandemic (Q1 2020).The same study showed a 7% annual increase in sales, making Q1 2022 the busiest Q1 for five years. Activity was predominantly driven by properties listed at between &pound;2million and &pound;5million, with sales up by a quarter (25%) on Q1 2021.Post-pandemic, Londoners continue to make the return to the office, on a full time or flexible working basis, which in turn is driving demand for Prime Central London flats.
 Between January and March 2022, we saw a rise of 13% in the number of PCL flats sold, compared to Q1 2021.With Prime Collection properties commanding strong prices, there continues to be opportunity for overseas investors who are looking to own and occupy or buy to let.Prime Central London real estate &ndash; lettings growth Now is a good time to invest in the buy to let Prime Central London real estate market. Our <a href="https://residential.jll.co.uk/insights/news/prime-central-london-q1-2022">JLL PCL Rental Index</a> recorded a 15% increase in
 rents achieved &ndash; the highest annual rise in more than 10 years. This 15% annual increase in achieved rents also put Q1 2022 3.1% higher than Q1 2020, pre pandemic, proving that the rise wasn&rsquo;t the result of a pandemic dip. As always, there is movement out of and within Central London, with renters negotiating a competitive market. In 2021, some PCL tenants were in a strong position to negotiate significant rent reductions. In 2022, we are seeing many tenants appreciate
 how competitive the Prime Central London rental market is and therefore paying more to stay in exclusive locations. JLL research shows an 18% annual increase in the number of rent renewals across Prime Central London in Q1 2022, compared with Q1 2021, during the pandemic.&nbsp;Attractions in Prime Central London that make this area a unique investment opportunity London&rsquo;s mix of the historic and the modern makes the city a truly unique place to explore, invest in and live. There is an overview of the local area and property types in Knightsbridge, Kensington &amp; Chelsea, Mayfair, Marylebone, Belgravia,
 and Westminster in: <a href="https://residential.jll.co.uk/insights/research/guide-to-investing-in-prime-properties-london-uk-jll">&lsquo;Are luxury properties in Prime Central London a good investment?&rsquo;</a>.
 Prime Central London covers the following six areas:<ol><li>Knightsbridge </li><li>Kensington &amp; Chelsea</li><li>Mayfair</li><li>Marylebone</li><li>Belgravia</li><li>Westminster </li></ol> To make sure you find the right property, in the right area, at the right price, it is critical to work with trusted experts who have in-depth knowledge of the Prime Central London real estate market.&nbsp;The mechanics of buying Prime properties in London as an overseas investor According to research published in Showhouse1, overseas investment in Prime Collection properties collectively brought an estimated &pound;1,188million to
 the Prime Central London market in 2020. Of Prime transactions in 2020, 11% came from French nationals, 9.2% came from Hong Kong and the USA, 8.3% from China, and 7.3% from India. Here, we answer some frequently asked questions from overseas buyers: -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Can a foreigner invest in UK property? Yes. In 2020, more than 40% of investment in Prime Central London&rsquo;s luxury properties came from overseas investors. Residential estate agents like <a href="https://residential.jll.co.uk/">JLL</a> are well versed in guiding
 overseas buyers through the UK buying process. -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; What do overseas buyers need to know about the UK buying process? The estate agency you partner with (i.e. JLL) and the conveyancing solicitor you appoint are both critical to this process. Once you&rsquo;re ready to buy, the amount you are offering to pay (your &lsquo;offer&rsquo;) is presented to
 the seller by the estate agent. You will need to be able to prove how you will fund your offer, how quickly you are looking to &lsquo;exchange&rsquo; and &lsquo;complete&rsquo; (more on these below), and who your solicitors are. If your offer is accepted by the seller, your solicitor will carry out the conveyancing process on your behalf. This is complex, but, in brief, your solicitor will carry out &lsquo;searches&rsquo; of the Land Registry and Local Authority
 records to examine the planning history and to look for any potential developments surrounding the property. You will also need to instruct a property surveyor to check the structural strength of the property &ndash; this is known as getting a &lsquo;survey&rsquo;.
 &nbsp;
 Next, the seller&rsquo;s lawyers draft a sale agreement (also known as a &lsquo;contract&rsquo;), which, once agreed by both parties, is signed by you and them. The signed sale agreements or contracts are then exchanged between your lawyers
 and theirs. This is known as &lsquo;exchange&rsquo; and means you are legally bound to proceed with the purchase and pay a deposit. The next step is to &lsquo;complete&rsquo; on the purchase, at which point you pay the balance of the purchase price and formal documents will be signed and dated, transferring the property from the seller to you. Your proof of ownership, known as &lsquo;title deeds&rsquo;,
 can then be found on the public register at the Land Registry. It is important to be aware that there are different types of ownership in the UK. Freehold means you own it completely, and leasehold means there is a time limit on the number of years you will own it for. However, many
 leaseholds are very long (up to 999 years) and freeholds can also be purchased if the freeholder is open to selling it. Once you have completed on a property and you become the legal owner of the property, you will be liable for Stamp Duty land tax, which is payable to the Land Registry within 30 days of completion. <a href="https://residential.jll.co.uk/#contactus">Get in touch</a> if you are considering buying in the UK for the first time and would like our experts to guide you through this process over the phone. -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invest, or own and occupy? UK property tax laws can be complex, which makes it crucial to work with estate agents and conveyancing solicitors who can direct you through the process efficiently. Depending on whether you decide to invest in UK property to live in (own and occupy) or as an investment (buy to let), the tax implications will be different. Since 1st April 2021, UK non-residents purchasing residential property in England and Northern Ireland are required to pay a 2% Stamp Duty surcharge. This is in addition to: <ul><li>The 3% Stamp Duty surcharge on purchases of &lsquo;additional&rsquo; dwellings. This could be property you are buying as a second home or as a buy to let property;</li><li>The 15% Stamp Duty rate on property purchases more than &pound;500,000 by companies; and</li><li>The Stamp Duty rate for UK home buyers. -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Do you need UK residency to invest in London prime property? </li></ul> No, you don&rsquo;t need to be a UK resident to&nbsp;buy Prime properties in London, or anywhere else in the UK. Our experts can talk you through the buying process,
 tax implications, expected rental yields for buy to let investors, and much more.&nbsp;<a href="https://residential.jll.co.uk/#contactus">Get in touch</a>.Share your investment goals with us and our Prime Central London property experts can help match you to the right type, value and location of property for your needs.
&nbsp;<hr />1&nbsp;<a href="https://www.showhouse.co.uk/news/foreign-buyers-make-up-over-40-of-londons-prime-property-market/">https://www.showhouse.co.uk/news/foreign-buyers-make-up-over-40-of-londons-prime-property-market/</a> <a data-sf-ec-immutable="">&nbsp;</a>

Guide to investing in Prime properties London, UK | JLL

An oversea buyer&rsquo;s guide to investing in Prime properties in London, UK

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JLL Residential Research Report | August 2022

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<h3>Are luxury properties in Prime Central London a good investment?
</h3>
Property prices in Prime Central London (PCL) grew 8.1% in the year to February 20221, compared to Hong Kong, where residential property prices declined by 2.9%, to their lowest since January 20212. Hong Kong was also ranked as the
 least affordable housing market
 3 by Demographia, which assesses house prices in relation to income across 92 major housing markets in eight world nations4.
Prime Central London outperforms many major international markets
While house price growth in the UK in the year to February 2022 was strongest in Wales - with growth of 14.2%, <a href="https://residential.jll.co.uk/insights/news/prime-central-london-q1-2022">London property prices</a> continued
 to increase at a strong rate (8.1%) and England&rsquo;s capital city still boasts unrivalled attractions across the six Prime Central London locations.
As well as boasting strong post-pandemic growth, <a href="https://residential.jll.co.uk/prime-collection">Prime Central London real estate</a> has proven to be a less volatile investment than Hong Kong&rsquo;s, for example, during
 periods of financial crisis. According to a recent article, quoting house price drops during the 2008 credit crunch, London property prices dropped 11%, compared to 50% in Hong Kong and 77% in Singapore5.
PCL property prices are strong and growing compared to previous years
Our quarterly research shows that residential property prices in Prime Central London were up 0.6% in Q1 2022, compared to Q4 2021, and achieving prices that are 4.7% more than in Q1 2020. <a href="https://residential.jll.co.uk/prime-collection">Luxury London properties</a> listed for between &pound;2milion and &pound;5million saw particularly strength growth, with sales up 25% year on year.
The figures speak for themselves, but what are the non-financial benefits of investing in London?
The benefits of buying Prime Central London: A quick area overview
When it comes to investing in luxury London property, are you looking to own and occupy or buy to let? Your investment intentions will inform the best area to buy in and the right type of property for you.
Here&rsquo;s a quick area overview of the six Prime Central London locations.
Knightsbridge
Possibly the most iconic of the six Prime Central London locations, Knightsbridge is home to a selection of high-end townhouses, unique mews properties, and luxury flats, all within touching distance of the luxury, opulence, and history of landmarks like
 Harrods, the V&amp;A, and the London Oratory.
Kensington &amp; Chelsea
A designer shopper&rsquo;s paradise, the London Borough of Kensington and Chelsea boasts stunning detached family homes and spacious terraces, all on the doorstep of the high-end boutiques and designer flagship stores lining the Kings Road and Sloane
 Square.

Luxury dining at the Borough&rsquo;s Michelin-starred restaurants (Bibendum, Elystan Street, and Kitchen W8) means you&rsquo;re spoilt for choice when it comes to fine dining. Properties in this area are also walking distance to the Saatchi Gallery, Chelsea
 Physic Garden, and Chelsea Embankment Gardens. Luxury properties in Kensington and Chelsea offer a feeling of space, opulence, and community within Prime Central London.
Mayfair
Featuring high ceilings and a true feeling of space, Mayfair&rsquo;s luxury flats often sit within stunning period properties that have been sympathetically converted to the highest specifications.
New build developments in Mayfair also put you close to some of London&rsquo;s most famous streets, sights, and shopping. From the designer flagship stores along Bond Street and the quintessentially British tailoring on Savile Row, to outdoor living at
 Hyde Park, and fine dining at Claridge&rsquo;s and Browns, owning a property in Mayfair will give you the very best of city London.
Marylebone
London is a collection of distinctive areas, each one boasting a unique character. Marylebone has built up a real village-like feel right at the heart of the action. Its streets are lined with al-fresco dining spots and independent retailers, and with
 fascinating art on show at the Wallace Collection, a Marylebone property is one for food lovers, those in search of unique boutique spots, and art collectors alike.
The area is perfect if you&rsquo;re looking to invest in the best of London period property, updated to the very highest standards for modern living.
Belgravia
Luxury flats and terraced houses on quiet squares, Belgravia&rsquo;s beautiful residential north to south streets connect Hyde Park to Chelsea Embankment, while its east to west properties join up Chelsea and Westminster.
Home to perhaps Peggy Porschen Cakes &ndash; perhaps the London food scene&rsquo;s most Instagrammable exterior, as well as to a whole host of other beautiful, independent boutiques and eateries, Belgravia feels typically London and is popular among working
 professionals with second properties outside of the capital.
Westminster
Westminster is all about incredible views of iconic landmarks. Home to stunning penthouse apartments close to Westminster Abbey, the Houses of Parliament, Buckingham Palace, and St James&rsquo; Park, Westminster offers riverside views and London living
 at its best.
London is the home of luxury living with properties right at the heart of the action. Prime Central London offers the perfect mix of leafy green parks, river views, iconic landmarks, and opulent retail, dining, and cultural experiences, for the discerning
 buyer.

Discuss your property portfolio objectives with our <a href="https://residential.jll.co.uk/prime-collection#enquiry">Prime Central London experts</a> and we will uncover the right luxury property for you. &nbsp;
<hr
/>
1&nbsp;<a href="https://www.gov.uk/government/news/uk-house-price-index-for-february-2022">https://www.gov.uk/government/news/uk-house-price-index-for-february-2022</a> 
2&nbsp;<a href="https://www.reuters.com/world/asia-pacific/goldman-sachs-expects-hong-kong-home-prices-fall-20-by-end-2025-2022-03-30/">https://www.reuters.com/world/asia-pacific/goldman-sachs-expects-hong-kong-home-prices-fall-20-by-end-2025-2022-03-30/</a> 
3&nbsp;<a href="http://www.demographia.com/dhi.pdf">http://www.demographia.com/dhi.pdf</a>
4The study assesses house prices in relation to income in 92 major housing markets across eight nations &ndash; 1. Australia 2. Canada 3. China 4. Ireland 5. New Zealand 6. Singapore 7. The United Kingdom 8. The United States. <a href="http://www.demographia.com/dhi.pdf">http://www.demographia.com/dhi.pdf</a>5&nbsp;
<a href="https://www.habitatinvestments.co.uk/prime-central-london-remains-one-of-the-best-global-real-estate-investments-it-is-claimed/">https://www.habitatinvestments.co.uk/prime-central-london-remains-one-of-the-best-global-real-estate-investments-it-is-claimed/</a>
<a data-sf-ec-immutable=""></a>

Investing in Prime properties London | JLL

Are luxury properties in Prime Central London a good investment?

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Restrictions lift but rising rates could temper demand amongst some potential buyers 
The Bank of England continues to walk a challenging tightrope, one which some say it stepped onto too late. Global economies continue to struggle with rising inflation, a combination of demand returning following the lifting of covid restrictions alongside
 the implications on food and fuel costs following the war in Ukraine. The Bank of England alongside many global banks is responding by increasing rates in an attempt to counter inflation. &nbsp;
For borrowers, the first week of August provided mixed news. On the first the Bank scrapped the requirement for lenders to impose additional affordability tests on borrowers, announced back in June. But days later, the Bank followed this with further
 increases in the base rate. It has to be said this wasn&rsquo;t a complete surprise, as those in the market were preparing themselves for the prospect of further rises this summer.&nbsp;
On 4th August the Bank announced the first half point rise in 27 years.&nbsp; MPC members voted 8-1 in favour of increasing the base rate to 1.75%<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/microsoftteams-image-(2).png?Status=Master&amp;sfvrsn=8b3f4186_1" sf-size="100" alt="" />
Of course, in the longer term the intention of this rate rise is to curb inflation, but in the short-term households are facing significant increases in the cost of living driven by food and fuel alongside wage rises which in many cases are not keeping
 pace with household expenditure. &nbsp;
For mortgaged owner occupiers the proliferation of fixed rates loans will add some comfort. In Q1 2022 82% of outstanding mortgage debt was on fixed rates, up from less than a third a decade earlier. But for those looking to buy or re-mortgage recent
 rate rises will mean they pay more. Prior to the August interest rate rise the effective mortgage rate hit 2.15% at the end of June. Up from a low of 1.50% at the end of November 2021 and back to levels last seen in November 2016.&nbsp;
But there hasn&rsquo;t been a seismic shift for many borrowers coming out of longer-term fixed rates, who would not have benefited from the record low rates in 2021. Effective rates for those coming out of a five-year fix in June 2022 (2.15%) only marginally
 higher than in June 2017 (2.05%). Albeit those exiting fixed rates in the coming months will experience a wider gap following the 4th August announcement.<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/microsoftteams-image-(1).png?Status=Master&amp;sfvrsn=d71d87ba_1" sf-size="100" alt="" />
 
 
 
Lifting restrictions
Earlier in the same week, on 1st August, the Bank removed the requirement for lenders to impose an affordability test, which required lenders to assess whether potential borrowers would be able to afford an interest rate hike equivalent to 3%. Which as
 interest rates rise would have meant much tighter affordability criteria for borrowers.
The Loan to Income (LTI) threshold, the more meaningful measure for most borrowers remains.&nbsp; With lenders limited on the number of loans they can issue at more than 4.5X income.&nbsp;
What will this mean for the housing market?
In recent months the UK housing market has continued to defy gravity. Significant increases in energy costs and rising inflation have been with us for some time now, yet house prices have so far appeared immune to rising costs elsewhere in the economy.&nbsp;
 The latest figures from the Nationwide Index show prices nationally rose 11% in June 2022, with regional growth of between 6.0% in London and 14.7% in South West. There are some signs that levels of demand are slowing, but few are reporting price
 falls and agents continue to see demand outstripping supply.
It would be na&iuml;ve to assume rising interest rates will not have some impact on the market. But in the short term it is possible that we will not see as significant an impact as one might expect.&nbsp;
Not all households are being impacted equally.&nbsp; Research by the Institute of Fiscal Studies suggested the poorest 10% of households experienced CPI inflation three percentage points higher than the richest 10%, due in part to these households spending
 a higher proportion of their income on energy and food. It is likely that those households where rising living costs bite the hardest are either renting their homes or are not in a position to move.&nbsp;
Indeed, this could mean we see prices rise further as more affluent households with a larger financial buffer, who usually buy more expensive properties, make up a higher proportion of transacting households.&nbsp;
Where we could see rising costs (living and debt financing) impact most significantly is on transaction volumes. But this too is far from certain, with some households potentially looking to purchase now, anticipating further rate rises or looking to
 take advantage of schemes like Help to Buy. It is also important to remember that 30% of purchases nationally were cash.
Looking ahead
Over the next six months we expect the sustained double-digit growth in prices we&rsquo;ve experienced so far in 2022 will recede as the market settles. But it is important to state that this is expected to be a slowing of growth not a fall in prices.&nbsp;
While some households will be deterred from moving due to higher rates, others will be keen to lock in at current (albeit higher) rates rather than risk further rate rises in the months to come.&nbsp; The ending of the government backed Help to Buy scheme
 in March 2023 also means that we could see a flurry of deals from first time buyers keen to take advantage of the scheme before it closes.&nbsp;
In the longer-term higher interest rates will of course be a barrier to some households. This combined with the end of Help to Buy will undoubtedly impact on first time buyer&rsquo;s ability to enter the market.&nbsp; With higher borrowing costs, rises
 in the cost of living and recent house price appreciation all acting as barriers.&nbsp; Conversely, we expect existing owner occupiers, particularly those buying with cash will increase as a proportion of sales.
Marcus Dixon &ndash; Director of Residential Research at JLL comments:
&ldquo;The UK is not alone in experiencing high rates of inflation, with the Bank of England reacting in the same way as many global banks in imposing multiple rate rises. For households this comes at a difficult time as the cost-of-living squeeze erodes households disposable incomes and adds a layer of uncertainty on future outgoings.&nbsp;
&ldquo;For the housing market the removal of the affordability stress test will add some wriggle room for purchasers and lenders alike, but we expect rate rises alongside and imbalance between wage rises and living costs will combine to deter activity amongst first time buyers and more financially exposed home movers.&rdquo;&nbsp;
 
&nbsp;
 
 
 
 
 
 
About JLL | August 2022
JLL is a leading global professional services firm specialising in real estate and investment management, with $16.6bn annual revenue in 2020, operations in over 80 countries and a global workforce of over 90,000.&nbsp; With over 7,000 employees and 15
 offices in the UK, we support our investor, developer and occupier clients at every stage of the property lifecycle across both commercial and residential asset classes. This includes land purchase, access to capital, planning, development advisory,
 leasing, building management and sales.&nbsp;
JLL&rsquo;s Residential and Living team consists of over 300 professionals who provide a comprehensive end-to-end service across all residential property types, including social housing, private residential, build to rent, co-living, later living, healthcare
 and student housing.&nbsp;
 
Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved.
Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or warranties as to the accuracy, completeness or suitability of the whole or any part of
 the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. JLL, its officers, employees
 shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves the right to pursue criminal and civil action for any unauthorized use, distribution
 or breach of such intellectual property.

JLL – Interest rates, mortgages, and the impact on house prices

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For many people looking to buy in London, affordability and long-term return on investment are high on the list of priorities when it comes to picking a property. Equally important is the location, with many buyers willing to push things like number of
 bedrooms, overall living space, outdoor space, and other criteria down the list to live exactly where they want to live. 
East London has a huge amount to offer for a range of buyers looking for houses or flats for sale. From buy-to-let investors and first-time buyers, to the second stepper and overseas investor &ndash; whoever you are, perhaps buying in East London could
 mean fewer compromises. 
No matter what&rsquo;s top of your &lsquo;must-have&rsquo; list when you&rsquo;re buying a new place, one of East London&rsquo;s seven boroughs will soon feel like home. If you&rsquo;re new to the area, or you want to get to know this area of London better,
 read on, or discover the other guides in our East London buyers&rsquo; guide series:
Other guides you may be interested in if you&rsquo;re looking for <a href="https://residential.jll.co.uk/search/east-london">houses and flats for sale in East London</a>:
<ul>
 <li><a href="https://residential.jll.co.uk/insights/opinions/7-boroughs-7-reasons-to-invest-in-east-london-property">7 boroughs, 7 reasons to invest in East London property</a></li>
 <li><a href="https://residential.jll.co.uk/insights/opinions/a-guide-to-east-london-s-bars-cafes-restaurants-experiences">A guide to East London&rsquo;s bars, cafes, restaurants, and experiences</a></li>
</ul>
Your East London area guide &ndash; Parks &amp; leisure facilities In this guide we walk you through East London&rsquo;s most beautiful parks and outdoor spaces, whether you enjoy taking a leisurely stroll, seeking that next adrenaline
 rush, trying out a new sport, or listening to live music. &nbsp;
Park living for music, sport, and nature lovers East London is so close to Central London and the capital&rsquo;s main routes out to other parts of the UK, yet it&rsquo;s also home to some of London&rsquo;s largest open spaces and
 with them, chances to try new things. All of the following parks are flanked by a unique mix of beautiful and quiet residential streets, village-like communities, vibrant cityscapes, and riverside living, for those who love London in all its diverse
 glory. &nbsp;
Victoria Park, Bow<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/victoria-park.jpg?Status=Master&amp;sfvrsn=1f8396b5_1" sf-size="100" alt="Victoria Park" />
Victoria Park in Bow, also known as Vicky Park and the People&rsquo;s Park, is one of London&rsquo;s most visited parks, welcoming around 9 million visitors each year. Music lovers flock to Victoria Park for the many open-air music festivals held there
 each year, including <a href="https://fielddayfestivals.com/" target="_blank" style="font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;"></a><a href="https://fielddayfestivals.com/" target="_blank" style="font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;">Field Day</a>
 and <a href="https://www.allpointseastfestival.com/" target="_blank" style="font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;"></a><a href="https://www.allpointseastfestival.com/" target="_blank" style="font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;">All Points East</a>. 
For the sporty among you, the Victoria Park Community Cricket League organises cricket every evening during the summer and the three-lane cricket net is free for anyone to use. The park is also home to Tower Hamlets Football Club and Victoria Park United
 Football club, Tower Hamlets Cricket Club, Victoria Park Harriers &amp; Tower Hamlets Athletics Club. For families and water lovers, there&rsquo;s a children&rsquo;s play park complete with splash pool.
If you choose to live here, you&rsquo;re about a 12-minute bus ride to Canary Wharf and a 40-minute journey into Central London. 
<a href="https://residential.jll.co.uk/search/east-london">Explore houses and flats for sale in Bow and the East End of London</a>
London Fields, Hackney<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/london-fields.jpg?Status=Master&amp;sfvrsn=53e4bec4_1" sf-size="100" alt="London Fields" />
Around two miles west of Victoria Park is London Fields, complete with Lido, sundeck, and sunbathing area, as well as a large expanse of green open space. For avid basketball players, there&rsquo;s a well-maintained court. It&rsquo;s also a great place
 to start a stroll that&rsquo;ll take you along Regent&rsquo;s Canal and all the way to Angel, if you&rsquo;re feeling energetic!
Hackney Marshes<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/hackney-marshes.jpg?Status=Master&amp;sfvrsn=71523fab_1" sf-size="100" alt="Hackney Marshes" />
Holder of a <a href="https://www.greenflagaward.org/" target="_blank"></a><a href="https://www.greenflagaward.org/" target="_blank">Green Flag award</a>, Hackney Marshes is affectionately known as the home
 of Sunday League football thanks to its impressive number of pitches and excellent changing facilities. But this big green open space in the heart of East London also boasts trails, a bird hide, a conservation area, and much more. And, if you wander
 to the south of the Marshes and cross over the A12 (on foot), you&rsquo;ll find yourself in the Queen Elizabeth Olympic Park. 
<a href="https://residential.jll.co.uk/search/east-london">Explore houses and flats for sale in Hackney</a>
Queen Elizabeth Olympic Park, Stratford<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/qe-olympic-park.jpg?Status=Master&amp;sfvrsn=6fb81e01_1" sf-size="100" alt="QE Olympic Park" />
Walk for around 15 minutes the other way from Victoria Park, to the East, or stroll through Hackney Marshes and you&rsquo;ll find the Queen Elizabeth Olympic Park. Built for the London 2021 Olympic Games, us mere mortals can now try out
 a range of exciting sports within the iconic Olympic venues dotted about the Park. It&rsquo;s also a lovely place for a leafy stroll, with the option to stop for a breather at one of the many restaurants, cafes, and kiosks on the Park, and in the
 venues. 
Choose from: <a href="https://www.bargeeast.com/" target="_blank"></a><a href="https://www.bargeeast.com/" target="_blank">Barge East</a> &ndash; a floating restaurant on an old converted Dutch barge;
 <a href="https://hereeast.com/" target="_blank"></a><a href="https://hereeast.com/" target="_blank">Here East</a> &ndash; an innovation park that&rsquo;s home to six restaurants; the <a href="http://www.eastvillagelondon.co.uk/"></a><a href="http://www.eastvillagelondon.co.uk/">East Village</a> (formerly the Athlete&rsquo;s Village) &ndash; with 13 eateries to choose from; the <a href="https://www.internationalquarter.london/" target="_blank"></a><a href="https://www.internationalquarter.london/" target="_blank">International Quarter</a> &ndash; the Park&rsquo;s new business district and boasting seven places to sit, eat,
 and relax dotted around 560 acres of open space; and the street food hall at <a href="https://hackneybridge.org/hackneybridgekitchens"></a><a href="https://hackneybridge.org/hackneybridgekitchens" target="_blank">Hackney Bridge Kitchens</a> &ndash; complete with nine independent food traders. 
Connected to just about everywhere in London by <a href="https://residential.jll.co.uk/insights/news/crossrail-may-2022"></a><a href="https://residential.jll.co.uk/insights/news/crossrail-may-2022">Crossrail</a> (the Elizabeth Line), and the Jubilee, Central, DLR, Overground, and National Rail services, Stratford is a no-brainer for those who want to be well served locally and well connected to the rest of London and the South East. 
<a href="https://residential.jll.co.uk/search/east-london">Explore houses and flats for sale in Stratford</a>
Walthamstow Wetlands Nature Reserve, London Wildlife Trust<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/walthamstow-wetlands.jpg?Status=Master&amp;sfvrsn=f4cc02fa_1" sf-size="100" alt="Walthamstow Wetlands" />
From bushcraft and Forest School, to exhibitions, and simply a beautiful place to relax, unwind and reconnect with nature, the <a href="https://www.wildlondon.org.uk/walthamstow-wetlands-nature-reserve" target="_blank"></a><a href="https://www.wildlondon.org.uk/walthamstow-wetlands-nature-reserve" target="_blank">Walthamstow Wetlands Nature Reserve</a> in, well, Walthamstow, is home to 2km of cycle path and multiple species of rare bird, bats, and amphibians. You&rsquo;ll forget you&rsquo;re in buzzing East London and
 only 15 minutes from Central London. 
<a href="https://residential.jll.co.uk/search/east-london">Explore houses and flats for sale in Walthamstow</a>
Wanstead Flats and Wanstead Park<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/wanstead-park.jpg?Status=Master&amp;sfvrsn=70b68d85_1" sf-size="100" alt="Wanstead Park" />
Two beautiful open spaces that locals agree are great for dog walking, horse-riding, cycling and strolling, in all weathers. Woods, rivers, lakes, caf&eacute;, and a temple &ndash; it&rsquo;s a great place to explore for the active and
 families with young children. It&rsquo;s just 35 minutes from Wanstead to Charing Cross by tube (London Underground), meaning you&rsquo;ll have great parks and many other amenities on your doorstep, and Central London at your fingertips.
<a href="https://residential.jll.co.uk/search/east-london">Explore houses and flats for sale in Wanstead</a>
<a href="https://residential.jll.co.uk/offices/estate-agent-stratford"></a><a href="https://residential.jll.co.uk/offices/estate-agent-london-city">Get in touch with our East London team</a> to find the
 right area and property for your needs and budget. We&rsquo;ve got a great range of <a href="https://residential.jll.co.uk/search/houses-apartments-for-sale-stratford"></a><a href="https://residential.jll.co.uk/search/east-london">houses and flats to buy in East London</a> and the local knowledge to accurately match you with your perfect property.

A buyer’s guide to East London’s parks and leisure facilities

For many people looking to buy in London, affordability and long-term return on investment are high on the list of priorities when it comes to picking a property.&nbsp;

For many people looking to buy in London, affordability and long-term return on investment are high on the list of priorities when it comes to picking a property. 

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JLL&rsquo;s latest Living Priorities Survey.
What we want from our homes is constantly evolving. Both the pandemic and rising energy costs means households are again re-evaluating their priorities. 
To better understand what buyers want in today&rsquo;s market, and how this might change in the future, we contacted potential buyers registered with JLL to hear their thoughts. 
Electric cars &ndash; a lesson for the housing market? 
Within a short space of time, we have seen a rapid shift in motorists&rsquo; willingness to adopt electric vehicles in a bid to lower their environmental impact. Could we see this positive approach to environmental sustainability feed through into our homes? <img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/graphical-image-1-insights.png?Status=Master&amp;sfvrsn=47d153a5_1" sf-size="100" alt="" />
New JLL research from our latest Living Priorities survey, explores the change in the proportion of people who expect to be driving an electric or hybrid vehicle in the future. At present, just 8% of respondents drive an electric or hybrid car, versus
 43% petrol or diesel. However, when asked about their next vehicle the survey results show a greater appetite for electric vehicles, with almost 70% expecting to drive an electric or hybrid car in the future, versus just 9% for petrol or diesel.
What&rsquo;s driving the push towards more energy efficiency homes?
For most, our homes will be the largest investment we make in our lives. Our survey has found that a larger number of people are now placing even more importance on the environmental impact of their home. Undeniably, reducing the running costs of a home
 is the key motivator for most, however many people are also increasingly aware that there is a desire to become more socially responsible. Almost two thirds of our respondents said that achieving a lower carbon footprint was important to them.<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/grpahical-image-2-insights.png?Status=Master&amp;sfvrsn=36e05bc6_1" sf-size="100" alt="" />
70% of respondents viewed the energy efficiency and running costs of their home as more important now versus pre-pandemic. Back in April, we explored <a href="https://residential.jll.co.uk/insights/news/jll-could-new-home-demand-rise-as-energy-prices-soar"></a>
 <a href="https://residential.jll.co.uk/insights/news/jll-could-new-home-demand-rise-as-energy-prices-soar">what the rising energy costs meant for UK homes</a>. JLL research found that the lifting of the energy price cap could result in the average band G home experiencing an increase in bills of over &pound;1,700 per annum, an extra &pound;3,246 more per
 annum than the average home in bands A-C. It is therefore unsurprising perhaps, that 82% of respondents voted a &lsquo;saving on energy bills&rsquo; as the reason why the environmental sustainability of their home is important to them.
Are purchasers willing to pay more?
Over half of respondents (57%) would be prepared to pay a premium for a more environmentally friendly home. Of those who said &lsquo;yes&rsquo;, half would pay just up to 5%. In total, 83% of those who would pay a premium, would be prepared to pay up
 to 10% more for an environmentally friendly home.&nbsp;<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/grpahical-image-3-insights.png?Status=Master&amp;sfvrsn=fc72dafe_1" sf-size="100" alt="" />
So, what does this mean for our homes in the future, particularly the new homes sector?
Rising energy costs have undoubtedly pushed energy efficiency up the list of importance for homeowners. But whether they are driven purely by costs, social responsibility or likely a combination of both, what is clear is that buyers will be taking energy
 consumption into consideration more, when looking for homes in the future. 
80% of our respondents said that the environmental impact of their home will be either crucial or important in their next move, with the number of people willing to purchase a new home, if it meant improved environmental efficiency, rising from 51% from
 their last move, to 78% going forward. 
With purchasers becoming more environmentally aware and the potential for more sustainable homes to command a premium, the new homes market should be well placed to benefit.&nbsp; Analysis of EPC ratings for UK homes shows 83% of new build properties
 boast an EPC rating of A or B, versus just 3% for existing stock.
The JLL Living Priority Survey 2022 was conducted in May 2022 with a total of 104 respondents. 
Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved.Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.
&nbsp;

Are buyers waking up to the benefits of a more environmentally friendly home?

A first glance at JLL&rsquo;s latest Living Priorities Survey

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The 2020/21 pandemic race for space outside of London is no secret, but while there will always be people who move to suburbia, there will always be the pull of East London in all its cultural, diverse, exciting, commutable glory, too. In fact, in the
 first half of 2022, 30% of London rental properties went to people who were previously living outside of the city<a href="https://www.bloomberg.com/news/articles/2022-05-15/the-great-london-property-exodus-is-in-reverse-as-tenants-return" name="_ednref1" target="_blank">[i]</a>.
 
<h2>Why East London?</h2>
East London is made up of seven boroughs, each with its own distinct centres: 
<ol>
 <li>Barking and Dagenham &ndash; Barking and Chadwell Heath</li>
 <li>Hackney &ndash; Dalston, Shoreditch and Stoke Newington</li>
 <li>Havering &ndash; Romford and Upminster </li>
 <li>Newham &ndash; Stratford, Woolwich, and Canning Town</li>
 <li>Redbridge &ndash; Wanstead and Hainault</li>
 <li>Tower Hamlets &ndash; Canary Wharf, Bethnal Green, Whitechapel and Spitalfields </li>
 <li>Waltham Forest &ndash; Walthamstow, Chingford, and Leytonstone
 </li>
</ol>
Each with its own personality and prospects, here are seven reasons to invest in the new <a href="https://residential.jll.co.uk/offices/estate-agent-stratford"></a><a href="https://residential.jll.co.uk/search/east-london">East London houses and flats for sale</a> across its boroughs. 
<ol>
 <li>Slow-rising prices in the short term

 In good news for investors in residential <a href="https://residential.jll.co.uk/search/homes-for-sale-canary-wharf"></a><a href="https://residential.jll.co.uk/search/east-london">East London property</a>,
 the 2021/2022 Stamp Duty holiday meant a lot of people looked to buy, but many didn&rsquo;t find the right property and therefore didn&rsquo;t put their properties on the market either. As the holiday ended and Omicron cases settled, the uptick
 in supply meant a smaller price increase than was perhaps expected, making now a good time to browse houses and flats for sale in East London. 
 </li>
 <li>Strong price predictions in the longer term <img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/east-london-river163a4a7c-2a15-4dd9-9bc1-9e422baf7795.jpg?Status=Master&amp;sfvrsn=222faa35_1" sf-size="100" alt="EAST LONDON RIVER" />
 Overseas investors travelling again. Professionals returning to the office. First-time buyers wanting the job opportunities, social prospects, and unrivalled cultural diversity that London can offer&hellip; All these things mean London property
 prices will likely always be higher than those outside the capital. 
 However, property prices also tend to increase at a faster rate in the longer term compared to the rest of the UK, making for potentially excellent investments for both residential buyers and buy-to-let investors. This is particularly true of
 houses and flats to buy in East London, an area that offers both its own set of reasons to invest and is a short commute into Central London for the best of two worlds. 
 With people flocking back to London for lifestyle reasons<a href="https://www.bloomberg.com/news/articles/2022-05-15/the-great-london-property-exodus-is-in-reverse-as-tenants-return" target="_blank" name="_ednref2">[ii]</a> &ndash; a lot of people missed London&rsquo;s attractions while the capital was shut down as part of COVID-19 restrictions &ndash; not just because they&rsquo;re being brought back to the office, East London presents an exciting opportunity
 for residential buyers and investors. 
 </li>
 <li>East London offers a lot within its borders, and is an easy commute to Central London <img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/startford-station.jpg?Status=Master&amp;sfvrsn=82446884_1" sf-size="100" alt="STARTFORD STATION" />
 Packed with restaurants, bars, shops, and sports facilities, East London has everything within its boroughs&rsquo; boundaries, but also boasts transport links that make it easy and quick to commute or travel into Central London. 
 From the Olympic Park, nearby Hackney Marshes, and 11 Michelin star restaurants<a href="https://london.eater.com/maps/michelin-star-restaurants-london" name="_ftnref1" target="_blank">[1]</a>,
 to huge London landmarks like the Tower of London and the O2 Arena, more than 14 rooftop bars, luxury shops and a plethora of vintage stores, East London has so much on offer for every interest. 
 Depending where in East London you decide to buy, the commute to London Bridge is around 20-45 minutes on the London Underground. 
 </li>
 <li>East London is home to finance, banking, and tech

 The famous towers of <a href="https://residential.jll.co.uk/search/homes-for-sale-canary-wharf"></a><a href="https://residential.jll.co.uk/search/homes-for-sale-canary-wharf">Canary Wharf</a> in
 East London house some of the world&rsquo;s biggest banks, financial institutions and tech companies, making it a great place for professionals to buy and rent. A community has sprung up around these impressive office buildings, with river
 boat rides, roof top bars, crazy golf, green spaces, and much more. <img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/canary-wharf.jpg?Status=Master&amp;sfvrsn=f9a84ca9_1" sf-size="100" alt="CANARY WHARF" /></li>
 <li>East London boasts new builds in locations packed with history 

 With demand for outdoor space and layouts and facilities conducive to flexible working at an all-time high, East London new build flats and houses in East London are an exciting option for residential buyers and investors. 
 From flats with boardwalk access, balcony gardens, and views of the Thames, to new build developments with penthouse apartments, private spa and gym facilities, and houses with generous gardens, the choice of property types is as varied as the
 area&rsquo;s cultural heritage. 
 The ports of East London have made the area a melting pot of cultures and skills, making it the home of rapid industrialisation during the Victorian era and influencing the architecture and atmosphere you see there today. <img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/canary-wharf1c167063-4f22-4f81-bda7-e7a4b9722012.jpg?Status=Master&amp;sfvrsn=7b748c37_1" sf-size="100" alt="Canary Wharf" /></li>
 <li>Good rental demand

 Buying a house or flat in East London for rental purposes is a smart move, with the area home to four universities - Queen Mary University of London, the University of East London (UEL), UCL East, and London South Bank University (LSBU). And to
 three major hospitals &ndash; the Royal London Hospital, King George Hospital, and Queen&rsquo;s Hospital. Students, medical professionals, and city workers all buoy the rental market in East London. 
 </li>
 <li>Barking and Dagenham is significantly cheaper than Central London

 With average house prices in Barking and Dagenham sitting at just over &pound;300,000, compared to &pound;677,110<a href="file:///C:/Users/dipanshu.sharma/Downloads/JLL%20-%20Prime%20-%20Content%20-%20Web%20-%20East%20London%20-%20Page%201%20-%2024.05.2022.docx#_edn3" name="_ednref3">[iii]</a> across all boroughs, it&rsquo;s an attractive prospect for investors and residential buyers looking for somewhere commutable and in the throes of massive regeneration. It&rsquo;s
 around 15 minutes by train from Barking to Fenchurch Street, making the commute for work or pleasure an easy one. 
 There&rsquo;s a huge variety of flats and houses to buy in East London, from new builds in Barking, to penthouse apartments and buy-to-let properties near Canary Wharf. Browse the <a href="https://residential.jll.co.uk/offices/estate-agent-stratford"></a><a href="https://residential.jll.co.uk/search/east-london">JLL Residential East London portfolio</a> and <a href="https://residential.jll.co.uk/#contactus"></a>
 <a href="https://residential.jll.co.uk/#contactus">get in touch</a> for help narrowing your search. [1] <a href="https://london.eater.com/maps/michelin-star-restaurants-london" target="_blank">https://london.eater.com/maps/michelin-star-restaurants-london</a>[i] <a href="https://www.bloomberg.com/news/articles/2022-05-15/the-great-london-property-exodus-is-in-reverse-as-tenants-return" target="_blank">https://www.bloomberg.com/news/articles/2022-05-15/the-great-london-property-exodus-is-in-reverse-as-tenants-return</a> [ii] <a href="https://www.bloomberg.com/news/articles/2022-05-15/the-great-london-property-exodus-is-in-reverse-as-tenants-return" target="_blank">https://www.bloomberg.com/news/articles/2022-05-15/the-great-london-property-exodus-is-in-reverse-as-tenants-return</a> [iii] <a href="https://www.standard.co.uk/homesandproperty/property-news/london-house-prices-april-rise-boroughs-record-property-market-b995773.html" target="_blank">https://www.standard.co.uk/homesandproperty/property-news/london-house-prices-april-rise-boroughs-record-property-market-b995773.html</a>
 
 

 </li>
</ol>

7 boroughs, 7 reasons to invest in East London property

The 2020/21 pandemic race for space outside of London is no secret, but while there will always be people who move to suburbia, there will always be the pull of East London in all its cultural, diverse, exciting, commutable glory, too.

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<div>
 Other guides you may be interested in if you&rsquo;re looking for <a href="https://residential.jll.co.uk/search/east-london">houses and flats for sale in East London</a>:
 <ul>
 <li><a href="https://residential.jll.co.uk/insights/opinions/7-boroughs-7-reasons-to-invest-in-east-london-property">7 boroughs, 7 reasons to invest in East London property</a></li>
 <li><a href="https://residential.jll.co.uk/insights/opinions/a-buyer-s-guide-to-east-london-s-parks-and-leisure--facilities">A buyer&rsquo;s guide to East London&rsquo;s parks and leisure facilities</a>
 </li>
 </ul>
</div>
<h2>Your East London area guide &ndash; Bars, cafes, restaurants, and experiences</h2><img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/broadway-market.jpg?Status=Master&amp;sfvrsn=73af0c9_1" sf-size="100" alt="Broadway Market" />
<div>
 Mare Street, Rivington Street, Hoxton Square, Brick Lane, Kingsland Road&hellip;the more you read about East London, the more these street names and many others will stick in your mind. They are packed full of popular spots for cocktails, adventurous food, and of course, delicious coffee, cakes, and pastries.
 Take a walk along the following streets to find your own hidden gems &ndash; buying a house or flat in East London is a great excuse to explore everything the area has to offer.
</div>
<div>
 Great Eastern Street &amp; Curtain Road, Shoreditch
</div>
<div>
 Cutting right through Shoreditch and lined with weird and wonderful bars, restaurants and experiences, Great Eastern Street and its neighbour Curtain Road (which leads to Old Street to the North) are where many Londoners head for a good time. Relive your childhood with a trip to Ballie Ballerson, a giant ball pit strictly for grown-ups.
 Some say the perfect night out in Shoreditch is dinner at Flat Iron (all about the steak) or Blacklock (all about the chops and cheesecake), followed by drinks and dancing at the Blues Kitchen, which often hosts live music and DJ sets.&nbsp;
</div>
<div>
 When you buy your house or flat in East London you won&rsquo;t need to stay in a hotel, but the nearby Hoxton Hotel is good for the occasional treat, or a leisurely drink if you&rsquo;re feeling an upmarket vibe.
 This is undoubtedly the easiest place to find your vibe in East London.&nbsp;
</div>
<div>
 Ask us about <a href="https://residential.jll.co.uk/offices/estate-agent-stratford"></a><a href="https://residential.jll.co.uk/search/east-london">houses and flats for sale in East London</a> that are
 a short bus ride from these lively streets, including <a href="https://residential.jll.co.uk/search/houses-apartments-for-sale-stratford">Stratford</a> and <a href="https://residential.jll.co.uk/offices/estate-agent-london-city">London City</a>.
 Rivington Street, Shoreditch 
</div>
<div>
 A lively street in East London, Rivington Street is home to some of London&rsquo;s best cocktail bars, including the fun-to-say <a href="https://www.calloohcallaybar.com/" target="_blank">Callooh Callay</a>, where you can just turn up and sample the hilariously named cocktails, or you can book a masterclass and learn to make them yourself.
 Hoxton Square, Shoreditch<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/hoxton-sq-.jpg?Status=Master&amp;sfvrsn=1c3d8879_1" sf-size="100" alt="Hoxton Sq " /></div>
<div>
 Everyone loves a city square, and Hoxton Square is about as lively as it gets. <a href="https://www.tonightjosephine.co.uk/find-us/shoreditch/" target="_blank">Tonight Josephine</a>, Happiness Forgets, Nikki&rsquo;s Bar, and <a href="https://colourshoxton.com/" target="_blank">Colours Hoxton</a> are firm favourites with lovers of East London&rsquo;s vibe. In the day, it&rsquo;s a lively square and at night it ups the ante as the crowds pour in and the bars fill up. In the summer, if the weather&rsquo;s decent, it&rsquo;s a bit like being on a city break in Manhattan.&nbsp;
 Brick Lane, Shoreditch and Spitalfields<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/brick-lane.jpg?Status=Master&amp;sfvrsn=a577cfa5_1" sf-size="100" alt="Brick Lane" /></div>
<div>
 Be inspired by the street art, kit yourself out in rare vintage finds or new pieces from sample sales regularly held at the <a href="https://www.trumanbrewery.com/" target="_blank">Truman Brewery</a>, and treat yourself to a paper bag full of rainbow bagels. Home to Fashion Week Men&rsquo;s, Brick Lane is great for shopping, food, drinks, and a night out with or without dancing.
 All Star Lanes (ten pin bowling) Big Chill and Monty&rsquo;s Bar are good places to start, before heading to 93 Feet East if you&rsquo;re up for some late-night live music or clubbing. 
 <a href="https://91livingroom.com/" target="_blank" style="font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;">Ninety One Living Room</a> is great for a more intimate vibe.&nbsp;
</div>
<div>
 Just a short walk to Old Street (the street and the Underground station), Brick Lane has a lot to offer and it&rsquo;s easy to get to from just about anywhere.
 Kingsland Road, Dalston<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/jazz.jpg?Status=Master&amp;sfvrsn=6046297e_1" sf-size="100" alt="Jazz" />
 
</div>
<div>
 Untitled Bar, Three Sheets, and <a href="https://brilliantcornerslondon.co.uk/" target="_blank">Brilliant Corners</a> are some of the best spots on Kingsland Road. The latter is also a restaurant, serving up Japanese food and regular live Jazz, for a super cool fusion night out. Dalston Roof Park hits the trend for rooftop chilling with views over the bright lights of London.
 Mare Street, Hackney
</div>
<div>
 Home to Hackney Town Hall, Mare Street is a served by Hackney Central and London Fields Overground stations and boasts Mare Street Market, complete with beer garden and communal seating for enjoying the delicious food on offer.
 On the corner of Mare Street and Westgate Road is a co-working space for creatives with a fantastic rooftop bar and called 
 <a href="https://netil360.com/" target="_blank" style="font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;">Netil360</a> because of its impressive panoramic views over
 East London and beyond. It also serves street food. Make an afternoon of it, with a wander around Netil Market&rsquo;s shops and stalls, just a few minutes&rsquo; walk down Westgate Street.&nbsp;
</div>
<div>
 <a href="https://www.picturehouses.com/cinema/hackney-picturehouse" target="_blank">Hackney Picturehouse</a> cinema shows independent films and it&rsquo;s a great street for vintage finds, with Paper Dress Vintage a firm favourite
 with shoppers looking for something a bit different than the high street has to offer.
 If you love pizza, head to Bohemia Place to find the local&rsquo;s favourite spot.
</div>
<div>
 Broadway Market, Hackney<img src="https://olmresi-sg-prod.jll.com/images/default-source/agency/broadway-market4cd866b2-bf3e-448e-b9c7-1ef7dc3bd2f1.jpg?Status=Master&amp;sfvrsn=5b661c16_1" sf-size="100" alt="Broadway Market" /></div>
<div>
 Best known for the market itself, Broadway Market is home to 120 regular stalls, including Crosstown Donuts, <a href="https://www.badbrownie.co.uk/" target="_blank">Bad Brownie</a>, and Broadway Vintage, as well as permanent shops and restaurants, including Londoners&rsquo; favourite pizza spot &ndash; Franco Manca.
 It connects London Fields and Regent&rsquo;s Canal, making it an exciting place for a daytime stroll, followed by a relaxed dinner and drinks in one of the many restaurants and bars. Japanese gem Koya Ko is great for breakfast and lunch, while 
 <a href="https://www.sonorataqueria.com/" target="_blank" style="font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;">Sonora Taquer&iacute;a</a>
 is just round the corner and serves up some of the best Mexican food in London.&nbsp;
 
</div>
<div>
 East London is a mouth-watering mix of vibrant urban spots packed with things to see, markets to wander, places to try world cuisine and originally named cocktails.
 Get in touch with our East London team to find the right area and property for your needs and budget.
</div>

A guide to East London’s bars, cafes, restaurants & experiences

Other guides you may be interested in if you&rsquo;re looking for houses and flats for sale in East London

Other guides you may be interested in if you’re looking for houses and flats for sale in East London

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JLL &ndash; Do properties close to Crossrail stations command a premium?The Crossrail Bill was introduced to Parliament in February 2005. Three and a half years later, in July 2008, the Bill completed all the Parliamentary stages and received Royal Assent to become the Crossrail Act. Works officially began on the project in 2009 with tunnelling starting in 2012. A decade on, JLL have undertaken new research to assess the impact on property values along the line.Since 2012:<ul><li>Growth in average prices in areas surrounding 76% of Crossrail stations outperformed the regional average.</li><li>18 stations have experienced sales price growth of over 70% since 2012.</li><li>Largest premiums typically found along the Eastern lines.</li></ul>New research from JLL shows that the price of homes surrounding 76% of Crossrail stations have outperformed the wider market over the period 2012-2021.&nbsp;<img alt="" src="https://olmresi-sg-stg.jll.com/images/internationallibraries/default-album/graph-image-1.jpg?Status=Master&amp;sfvrsn=1fe25a91_1" sf-size="100" />&nbsp;<img alt="" src="https://olmresi-sg-stg.jll.com/images/internationallibraries/default-album/cross-rail-body-image.png?Status=Master&amp;sfvrsn=e6b74248_1" sf-size="100" />2005 &ndash; 2009Between 2005 and 2009, when savvy buyers were hoping to capitalise on lower prices and higher growth, the average increase of property values across all stations was 15%. At the beginning of the project, between 2005 and 2009, 20% of properties along the line saw higher house price growth than the regional average.2012 &ndash; 2021Between 2012 and 2021, average property values rose 73% in the areas surrounding Crossrail stations; 19 percentage points higher than the growth seen across London over the same period.&nbsp; 84% of stations recorded higher house price growth than the regional average. &nbsp;With work started fuelling confidence in those looking to invest.Since 2012, investors have continued to support price growth in these areas. At the top of the list, properties located near Forest Gate have outperformed the regional average (London) over the period 2012-2021, with growth 67 percentage points higher. Properties close to Forest Gate benefit from journey time savings of 11 minutes to Canary Wharf and 16 minutes to Paddington.Some of the largest premiums over regional averages are found along the Eastern lines. Despite this, previous JLL research has found time savings are typically the greatest from Slough and the Western section into central London.&nbsp; Over the past decade, house prices in Slough have increased by 25% more than the regional average.Rising values have not been restricted to the western and eastern ends of the line though. Bond Street, Paddington, Farringdon and Tottenham Court Road have all seen their average house price more than double since works began in 2009&nbsp;After over a decade of house prices surges, have house price premiums peaked, or is the best yet to come?When large regeneration or infrastructure projects are proposed certain buyers pounce, but others want to see the improvements in place before they commit. The speculators buy in early, purchasing homes in the anticipation that investment will lead to additional growth in house prices. They are likely to have capitalised on lower property values between 2005 and 2009 when the Crossrail bill was accepted and subsequently, when works began.Certain occupiers are more likely to wait and be willing to pay a premium, once improvements are in place, or in the case of Crossrail, stations open and trains begin to run. Landlords will be the first to benefit, as improved travel times and increased capacity makes the areas more attractive to prospective tenants.Senior Research Analyst at JLL, Meg Eglington says&nbsp;&ldquo;The promise of greater capacity and faster commutes have meant housing markets surrounding Crossrail stations have outperformed since the scheme was announced. But with trains starting to run across the network we could see further growth, now appealing to a new group of investors, homeowners, and tenants, waiting for the project to complete before moving in.&rdquo;&ldquo;As Crossrail nears completion, residential areas at stations along the line have re-emerged on people&rsquo;s radars, shorter commute times meaning areas previously less well connected can now compete with higher value commuter hotpots. Even with people now working more flexibly we expect a comfortable, fast, and reliable commute when they do need to travel, will ensure that property values continue to benefit from the Crossrail &lsquo;effect&rsquo; for years to come&rdquo;.&nbsp;About JLL<h5>JLL is a leading global professional services firm specialising in real estate and investment management, with $16.6bn annual revenue in 2020, operations in over 80 countries and a global workforce of over 90,000.&nbsp; With over 7,000 employees and 15 offices in the UK, we support our investor, developer and occupier clients at every stage of the property lifecycle across both commercial and residential asset classes. This includes land purchase, access to capital, planning, development advisory, leasing, building management and sales.</h5><h5>LL&rsquo;s Residential and Living team consists of over 300 professionals who provide a comprehensive end-to-end service across all residential property types, including social housing, private residential, build to rent, co-living, later living, healthcare and student housing.</h5><h5>Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved.</h5><h5>Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.</h5><img alt="" src="https://olmresi-sg-stg.jll.com/images/internationallibraries/default-album/2nd-graph---crossrail.png?Status=Master&amp;sfvrsn=312e7f15_1" sf-size="100" />

Crossrail - May 2022

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<div><div id="block-system-main"><article id="node-721" about="/news/2021/12/10/uk-residential-forecast-2022-2026" typeof="sioc:Item foaf:Document" data-sf-ec-immutable=""><div><div><div><img typeof="foaf:Image" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1639115417/olmwebcontents/ip/prod/btcfa2vlso31cg2l1sjx.jpg" width="1240" height="1754" alt="" /></div></div></div><div><div><div property="content:encoded"><a href="https://internationalresidential.jll.com.sg/download?pdf=720&amp;return_to=news/2021/12/10/uk-residential-forecast-2022-2026" target="_blank">Download Report</a><div> </div></div></div></div></article></div></div><div>&nbsp;</div>

UK Residential Forecast 2022 – 2026

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<div><div id="block-system-main"><article id="node-714" about="/news/2021/10/21/tokyo-demographic-movement-and-residential-market-report-september-2021" typeof="sioc:Item foaf:Document" data-sf-ec-immutable=""><div><div><div><img typeof="foaf:Image" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1634793693/olmwebcontents/ip/prod/xmchscec6zmaqcjwbex6.jpg" width="1240" height="1753" alt="" /></div></div></div><div><div><div property="content:encoded"><a href="https://internationalresidential.jll.com.sg/download?pdf=713&amp;return_to=news/2021/10/21/tokyo-demographic-movement-and-residential-market-report-september-2021" target="_blank">Download Report</a><div> </div></div></div></div></article></div></div><div>&nbsp;</div>

Tokyo Demographic Movement & Residential Market Report – September 2021

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1st&nbsp;Phase of St William&rsquo;s Poplar Riverside launching in SingaporeSt William, part of the Berkeley Group, will be unveiling the first phase of their latest riverside homes in Singapore on the weekend of 21 August 2021. Located on the banks of the River Lea, Poplar Riverside will offer over 2,800 homes, complemented
 by world-class residents&rsquo; facilities, a beautiful new 2.5 acres park and a host of retail services.An Exciting New DistrictPoplar Riverside is set to become one of East London&rsquo;s most vibrant neighborhoods. Strategically located between Canary Wharf and Stratford, Poplar Riverside&rsquo;s locale will allow future residents effortless accessibility to an abundance of
 East London&rsquo;s most exciting social, cultural, and educational offerings.Set within Zone 2/3 it is ideally placed for commuting to Canary Wharf or the City. Canary Wharf which holds an enormous collection of shops, bars, and cafes, alongside the United Kingdom&rsquo;s largest inland fish market, Billingsgate Market as well
 as Canary Wharf the global business headquarters, both just 12 minutes cycle away.The development is well connected via various public transport options that includes the East London&rsquo;s DLR, London Underground services, and an extensive bus network. Poplar Riverside is also within 45 minutes by tube to United Kingdom&rsquo;s top
 16 universities such as the Queen Mary University of London, University of Greenwich, and King&rsquo;s College. There are also secondary schools, primary schools, and pre-schools within the vicinity, catering to families with children of all ages.
 Poplar Riverside will even be delivering its own school in later phases.A Green HavenWith over 500m of river frontage and accompanied by a 2.5-acre riverside park, Poplar Riverside offers ever changing views and proximity to nature. With half the park dedicated to open spaces, park users can expect facilities such as playgrounds, lounge
 areas, and spaces that can be used to host social gatherings. Connecting the park squares and gardens, The Green Link runs the length of Poplar Riverside and features over 6,000 sq ft of plantings and provides a beautiful green frontage for the on-site
 caf&eacute;s and restaurants.Residents are truly spolit with the environment around them as there are countless outdoor activities such as paddle boarding at the Lee Valley Country Park, a boat cruise along the River Lea, cycling through the Hackney Marshes or a tour of the Walthamstow
 Wetlands.
A Vibrant Place to Call HomePoplar Riverside aims to provide its residents with a healthy balance between work and play. Located in the center of Poplar Riverside, Shelduck Square is a 10,000 sq ft public square for performances, remote working spaces, and outdoor dining.The Riverside Club within Poplar Riverside is a 16,000 sq ft space with a mix of premium social and work facilities. Entertainment rooms such as the cinema room and games room provide a space for residents to relax and unwind. With WiFi throughout, facilities
 like The Workspace, The Great Rooms, and meeting rooms provide conducive workspaces for residents. A 20-meter pool on the first floor includes spectacular pool facilities such as a salt room, experience shower, steam room, and sauna.The first phase of Poplar Riverside will launch 643 riverside studios, one, two, and three-room apartments, with a 24-hour concierge to cater to the needs of the residents. All homes will enjoy a balcony, many with beautiful views of the park, city, and
 river.
Join&nbsp;JLL at the Singapore launch of Poplar Riverside at Berkeley&rsquo;s Office in Marina Bay Financial Centre Tower 2. The exhibition will run through 21st to 22nd August 2021 from 11 AM to 6 PM, strictly by appointment only. Virtual and one-to-one
 appointments are also available for&nbsp;booking now!

1st Phase of St William’s Poplar Riverside launching in Singapore

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Despite a turbulent year, the UK property market has performed exceptionally,&nbsp;<a href="https://www.theguardian.com/business/2021/apr/21/uk-property-sales-at-16-year-high-as-house-prices-soar" target="_blank">soaring to a 16 year high for its property prices</a>.
 As the global outlook improves, foreign investors are looking for their next property investment opportunity.Since the Covid-19 Pandemic, most companies have evolved their working model. Tech firms and establishments have relocated from the big cities to promising new estates. Remote work has displaced working in offices. Now, tenants &amp; buyers re-evaluate
 what they want out of their property - their ideal work-home environment.Touted to be the future of smart cities, Reading&rsquo;s a hot commodity to buy a home in the UK.&nbsp; meets the evolving needs of tenants and buyers and is expected to reap handsome returns. Here are 5 Reasons Why Reading Is The Choice Real Estate Investment.<h2>1.&nbsp; Fastest Growing Economy in The UK</h2>For aspiring startups or angel investors, Reading&rsquo;s the place to be. Second only to London, Reading has the&nbsp;<a href="https://www.pwc.co.uk/industries/government-public-sector/good-growth.html" target="_blank"></a><a href="https://www.pwc.co.uk/industries/government-public-sector/good-growth.html" target="_blank">largest concentration of SMEs and businesses</a>&nbsp;(364.6% per 10,000 population).Its economic outlook continues to rise with a forecasted 1.1% increment per annum. Reading was rated as the&nbsp;<a href="https://www.pwc.co.uk/industries/government-public-sector/good-growth.html" target="_blank">2nd best place for work productivity</a>&nbsp;(&pound;83,801
 per job) and the 6th highest employment rate in the UK.Reading&rsquo;s performance and potential growth has got it the deserving accolade of being the top 10 most attractive European cities for Foreign Direct Investment in the FDI European Cities &amp; Regions of the Future. <ul><li>Today, Reading is home to 13 of the world&rsquo;s top 30 brands (including Microsoft, PepsiCo, Cisco, Symantec, Oracle Corporation, Prudential, Verizon, Thales and Bayer). You can expect an increase in property value as more multinational companies
 move in over the next decade. Invest in UK properties today through the&nbsp;latest Huntley Wharf development. </li></ul><h2>2.&nbsp; New Transport &amp; Infrastructural Developments</h2>There&rsquo;s a reason why Reading has the&nbsp;2nd highest housing stock growth in the UK. Thanks to the &pound;900 million investment for the Reading station, you can get to London city within 30 minutes via a direct line, or to Heathrow Airport in
 under 40 minutes.Reading currently holds the title of&nbsp;Fastest Growing City in the UK&nbsp;with newly minted and upcoming business parks. These include:<ul><li>Forbury Place - 370,000 sq ft of international HQ space</li><li>Station Hill &ndash; 900,000 sq ft office, residential, and retail</li><li>University of Reading&rsquo;s Science and Innovation Park</li><li>Thames Valley Park - 1,500,000 sq ft office, residential, and retail</li><li>Winnersh Triangle </li></ul>Expect better infrastructure to facilitate efficient freight capacity and transport. The Network Rail plans to modernise the Great Western route, as well as a 3.8km rail tunnel as part of a new Western Rail Link to London Heathrow Terminal 5 to be operational
 this year.With The Crossrail, commuters can travel from Reading Station (10 mins walk from&nbsp;Huntley Wharf) to London Paddington in 23 minutes! Furthermore, Reading Station will be upgraded with a 600 lot bicycle parking hub.The Royal Elm Park development will host new transport measures, such as subsidised local public transport, a new transport hub, and shuttle bus services to help relieve congestion. <h2>3.&nbsp; World-Class Education &amp; Tech Facilities</h2>Reading defends their title for the&nbsp;best A-level results in the country&nbsp;for the fourth consecutive year. Reading University ranked 30 in the World University&rsquo;s ranking. 54% of the working population holds a<a href="https://www.centreforcities.org/city/reading/" target="_blank">&nbsp;degree level</a>&nbsp;or equivalent.True to its reputation as the Silicon Valley of the UK, Reading has transformed from a manufacturing centre into a hub for IT, telecoms, tech. and digital businesses within the last few decades. They continue to attract real estate investment with the
 increased demand for tech/digital jobs.Thanks to a strong performing tech sector, Reading&rsquo;s gross value added forecast (2.2%) surpassed the UK's average of 1.7%. Multinational &amp; tech companies continue to offer well-paying jobs to recruit the best talent.It&rsquo;s a strategic time to buy a home in the UK at Reading. Reading&rsquo;s rental market is booming with tenants like these having more spending power. Most rentals are&nbsp;let within one week of being marketed. Should you be interested,&nbsp;
 check out the Huntley Wharf project in Reading. <h2>4.&nbsp; The Forefront of Green &amp; Sustainability Initiatives</h2>As a smart city, Reading is primed to be a green city. Most facilities are designed to reduce environmental impact and for sustainable living. These include energy-efficient heating systems, high levels of insulation, incorporating the advancements in
 technology to improve driving efficiencies and reduce fuel wastage.Marina and nature reserves will be an integral part of the city. Some residential areas would also incorporate acres of ecological areas, including ponds and reed; for residents to observe wildlife living in its natural habitat.Under Reading 2050, Reading aims to become a city that can adapt to climate change.&nbsp; As a self-replenishing and self-reliant ecosystem, Reading will have all its resources locally sourced and consciously educate all its residents of their responsibility
 to live within their limits. <h2>5.&nbsp; Ethnic &amp; Cultural Diversity</h2>In an environment where ethnic and cultural diversity is highly valued, Reading paves the way for its counterparts. McKinsey reported&nbsp;<a href="https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters" target="_blank">companies with diverse gender and ethnic executives are likely to perform 27% better than their counterpart</a>s.Across the Borough, Reading residents speak 150 different languages in their homes. Reading is also the&nbsp;<a href="https://www.centreforcities.org/city/reading/" target="_blank">10th city in the UK with 18.6% of the population born outside the UK</a>. <h3>Conclusion</h3>If you are looking to buy a home in the UK, or make a real estate investment for rental purposes, Reading is your choice location. It&rsquo;s a property investment bargain with relatively cheaper prices in the South East region and property letting yields
 at 4.6%. No doubt you can reap handsome returns. Just in the past 25 years,&nbsp;<a href="https://www.getreading.co.uk/news/reading-berkshire-news/reading-house-prices-grown-five-18113160" target="_blank">Reading properties have quintupled in their value.</a> Interested in Reading&rsquo;s real estate? Check out the&nbsp;latest development&nbsp;to find out more.

5 Reasons Why Reading Is The Choice Real Estate Investment For UK

sg 5 reasons

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Portugal is one of Europe&rsquo;s hottest property markets in more ways than one. It is not only seen as a safe haven that rarely makes the headlines with a stable political and economic landscape; it also has thousands of people relocating to its sunny shores every year.Its golden beaches, 1,800 kilometres of coastline and world-class golf courses are major attractions, and Portugal ranks third in the world&rsquo;s most peaceful countries behind Iceland and New Zealand.Portugal is also widely viewed as a safe haven for foreign investors, and since 2009, has offered generous tax incentives for foreign buyers which last for 10 years.On top of this, it has a very popular Golden Visa programme which offers residency permits through buying property investments.&nbsp;Golden VisaThe Portugal Golden Residence Permit Programme is a five-year scheme which offers residency by investing in the country through a number of different ways. Property investment has by far been the most popular route. As a resident you can have visa-free travel across Europe&rsquo;s Schengen Area which includes France, Germany, Italy and Spain and a Portuguese passport grants you visa-free travel to 185 countries.Foreign investors also like the fact that Portugal has a quick turnover time to purchase property.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asians flockingSince October 2012, 9,625 investors and 16,382 family members have benefited from the Portugal Golden Visa and 9,042 (90%) of Golden Visa Portugal applications were done through real estate investments. While the Chinese remain the largest single applicant cohort (over 50%), their share of the program is decreasing as other nationalities are applying for the program too.The Portugal Golden Residence Permit Programme has been very successful and now the government is removing the cities of Lisbon and Porto from the scheme to focus on other parts of the country. The new rules, which also affect coastal areas, will come in from July 2021 although there is a transition period to complete sales by the end of the year.&nbsp;Business buzzWhile foreign investors have Portugal in their sights, it is also attracting plenty of talent particularly in the technology sector. Many international companies have set up regional headquarters in the country, such as Google which built a technology hub near Lisbon in 2018. Car-making giant Volkswagen also has major manufacturing operations in Portugal.Up until the Covid pandemic which affected tourism the world over, Portugal&rsquo;s tourist numbers had been very healthy given its high number of sunshine hours. In fact, the southwestern coastline of Algarve gets more sun each year than all of Europe. As its tourism sector grew, this led to a scarcity of rental properties which drove rental yields up. This is good news for investors with properties in tourist hot spots.<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1619190836/olmwebcontents/ip/prod/cimz9jp5votc8qw1orez.jpg" />Algarve, Portugal&nbsp;Sun, sea and golfThe Algarve is one of Portugal&rsquo;s most popular destination, drawing sun-seeking tourists, beach lovers and golfers alike. One tourist hotspot is the Algarve, home to one of Portugal&rsquo;s most prestigious golf resorts. The 5,000km stretch of coast is known for its golden beaches, golfing and picturesque fishing villages along with an array of bars and restaurants.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1619190845/olmwebcontents/ip/prod/b2gptva8jmvqunsr0lms.jpg" />Douro, Portugal&nbsp;Lisbon and PortoIf the objective is exclusively housing, you need to meet your personal preferences. A house in the Algarve is compatible with warm climate lovers, Porto is for those who like a mild climate and Lisbon is the best city to develop a professional career.If the objective is the return on investment, there is a clear advantage in one of the options.Portugal&rsquo;s two main cities, Lisbon and Porto, have been the main destinations of foreign investment given they are seen as a trendy hotspots while being far cheaper to buy property in compared to other cities in Europe. &nbsp;Lisbon is one of Europe's smaller capitals with properties there inexpensive in comparison to London, Paris or Madrid.The main driver for investors used to be quality of life, its historical heritage, natural beauty and over 280 days of sunshine. But it&rsquo;s a very interesting market for putting your savings and investments now too. You can get a return both on rental yield and in capital appreciation.Porto has the same dynamic in terms of lifestyle. But it&rsquo;s also the research and development hub of the country. It&rsquo;s where much industry is based, and most of the money from Portugal&rsquo;s wealthy families is concentrated here.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1619190855/olmwebcontents/ip/prod/mvjzaojm0cvtucs64skt.jpg" />&nbsp;For investors looking for extra capital appreciation from their investments, Porto is the natural answer. House prices there are still 30% less than those in Lisbon, it has a lower square metre price to buy, so you have higher potential for investment returns.&lsquo;Many investors start enquiring about Lisbon. But when they ask for something that has a higher yield or capital appreciation potential, we say: yes, we do. In Porto&rsquo;&nbsp;&ndash; says Filippo Simonato, Residential Business Development Manager for JLL, based in Lisbon.&nbsp;Property MarketWhile property prices have been rising modestly during the pandemic, Portugal has seen above average increases. Prices rose by almost 6% during 2020, according to the Idealista Price Index.According to JLL&rsquo;s research&nbsp;&rsquo;Investir no Mercado de Arrendamento&rsquo;&nbsp;(Investing in the Rental Market),&nbsp;the residential rental yields in Lisbon are almost always above 3% and in Porto 4%; proof of a market where supply is scarce and vacancies tends to be absorbed quickly. It is a market with enormous potential for growth and income generation.&nbsp;Who is buying &amp; renting?Portugal is still proving popular with overseas buyers, and 57% of purchases are currently made by international buyers. While Asian buyers have been very active, these foreign-buyer purchases are spread across 47 different nationalities.Rental incomes have softened a little during the pandemic, although this is believed to be only temporary. Some landlords have put their holiday homes up for rent on the local market while they wait for tourism to return.<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1619190864/olmwebcontents/ip/prod/x42fhuyyqi4iiozgebnj.png" />Conde de Lima, Lisbon&nbsp;When tourists start to return to the many holiday hotspots Portugal has to offer, property owners should be well placed to reap the benefits, along with the tax and residency perks the country has to offer.If you are keen to find out more about investment opportunities in Portugal and learn more about the Golden Visa Program, please contact JLL International Residential at +65 9671 9583 or&nbsp;<a target="_blank" href="mailto:internationalresi@ap.jll.com">internationalresi@ap.jll.com</a>.

Why are Chinese property buyers attracted to Portugal?

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Not only Portugal is ideal for investors looking for stable returns on investment at a range of property price points, but the tax regime is very attractive. It offers a low effective tax burden, combined with a special Non-Habitual Residents tax regime, the free remittance of funds, the absence of inheritance and gift tax and no wealth tax.Moreover, the residence permit scheme (granting travels within the Schengen area) and the possibility to apply for Portuguese nationality and, consequently, a EU passport, make Portugal a very attractive location.&nbsp;The most popular Golden Visa program in EuropeIn 2012, Portugal approved special legislation designed to attract foreign investment, by offering a fast way for property investors (non-EU citizens) to receive a residence permit, making it a privileged entry into Europe and allowing such permit holders free circulation in Schengen countries.The Portugal Golden Visa program has proven to be the most popular scheme in Europe with investors attracted to its flexibility and benefits. Since its inception in 2012, thousands of families have successfully relocated to Portugal. &nbsp;An investment of &euro;500,000 (or &euro;350,000 reduced option) in real estate in Portugal will gain a residency permit for a family including dependent children.In 2019, more than half of all real estate transactions in Portugal were purchased by foreigners and Portuguese real estate agencies have been actively wooing Chinese and Asian buyers.According to a South China Morning Post article, Hong Kong is tipped to become one of the top sources of foreign investment in Portuguese property as residents seek a European haven from the civil unrest that has rocked the city since May 2019.&nbsp;What are the main advantages of the Portugal Golden Visa?The holders of a Portuguese Golden Visa have many advantages:<ul><li>You do not need a visa to enter Portugal or travel through Europe (Schengen Area).</li><li>You can live and work in Portugal, even with residency in a different country.</li><li>Portuguese residency can be extended to family members.</li><li>It has extremely low minimum stay periods compared to other residency / citizenship programmes.</li><li>You can attain permanent residency after five years.</li><li>You can attain citizenship after six years.</li></ul>The residence permit is granted for a period of one year, renewable for two successive periods of two years, and requires the maintenance of the investment for a minimum period of five years and the presence in Portuguese territory for 7 days (consecutive or not) in the first year and 14 days (consecutive or not) in the subsequent periods of two years. The authorization may be extended to the investor&rsquo;s family members and the residence permit may be granted on a permanent basis after the initial period of five years.&nbsp;Investment typesThis type of investment includes:<ul><li>Commercial or residential properties.</li><li>Real estate acquired in co-ownership, as long as the investor&rsquo;s share is at least the minimum indicated value.</li><li>Properties that are acquired individually or through sole proprietorship companies in which the investor is a partner.</li><li>Leased properties.</li><li>Properties encumbered, by the amount that exceeds the minimum amount of the investment.</li></ul>&nbsp;Portugal Golden Visa Changes in 2021Source: Cruz Roque Semiao Advogados (CRS Lawyers)Only this month, the XXII Portuguese Constitutional Government has finally established the revisions and changes on the Residence Permit for Investment Regime (Golden Visa), by means of the Law-Decree no. 14/2021 of 12th February, which represents the 8&ordm; alteration to the Law no. 23/2007 of 4th July (widely known as &ldquo;Foreigners Law&rdquo;).The main goal, according to said alterations, is to make this regime more and more directed preferentially to the investment in the interior territories, to investment in job creation and to the urban and cultural heritage requalification.With that in mind, the first essential and most relevant decision that was made was that&nbsp;these changes will only come into force/into effect on 1st&nbsp;January 2022, meaning that foreign investors have until 31st December 2021 to invest in the exact same terms and conditions, all over the country, towards their Golden Visa Applications.As of 1st January 2022, the following changes, which will represent an increase in the minimum investment amounts, as well as affect the geographical area of application in the real estate investment for habitation purposes, will apply:&nbsp;1. Real Estate Investment:a. In the amount of &euro; 500.000,00, for habitation Purposes, will only be allowed in the interior of Portugal, Azores, and Madeira.b. In the amount of &euro; .350.000,00, with rehabilitation investment, for habitation Purposes, will only be allowed in the interior of Portugal, Azores, and Madeira.&nbsp;2. Capital Transfers:a. The amount of investment for the Capital transfer with a value equal to or above 1 million Euros, changes to a minimum of 1.5 million euros.b. The amount of investment for the Capital transfer for investing in research activities conducted by public or private scientific research institutions involved in the national scientific or technologic system changes from &euro;350.000,00 to a minimum value of &euro; 500.000,00.c. The minimum amount on the Private Equity Funds investments, changes from &euro; 350.000,00 to a minimum value of &euro; 500.000,00.d. The minimum amount on the capital transfer for incorporation of a Company in Portugal, combined with the creation of five (5) permanent working jobs, OR for the reinforcement of the share capital of an existing company in Portugal, with the creation or maintenance of said jobs, changes from &euro; 350.000,00 to a minimum value of &euro; 500.000,00.&nbsp;In view of the above, and according to the remaining legal diploma that was published, it is essential to highlight that:<ul><li>Foreign Investors will have until 31st December 2021 &ndash; almost a whole year &ndash; to submit their Golden Visa application, taking advantage of the current Law as it is and was from the past years (with the same minimum amounts, on the same locations, and with the same requirements).</li><li>As long as these applications, by the Investors, are submitted before the 1st January 2022, client(s) can benefit for the same rules and have their residence permits granted, even if the actual approval of the process happens after that date.</li><li>The geographical limitations that will happen on the real estate investments, by &ldquo;pushing&rdquo; the investment for habitation purposes to the interior and the Islands, will still give a lot of interesting and potential possibilities in terms places to invest in Portugal, which will help on the development of those areas.</li><li>On the real estate investments, only the ones for habitation purposes will be affected, meaning that for commercial/services or other purposes foreign investors will still be able to invest in the whole country, namely in Lisbon and Porto, just like before, after the 1st January 2022.</li><li>Family members can still benefit from the Family Reunification applications and benefits, even after 1st January 2022, as long as their Main Applicant/Investor has submitted his/her application before that (under the same law).</li></ul>&nbsp;Gustavo Machado Dias associate lawyer of CRS Lawyers&nbsp;The new regime comes into force on January 1, 2022 and is applicable to all applications for Residence Permits trough an Investment Activity (ARI) presented from this date forward.But until the regulation takes off, there is still a window of opportunity to utilise the popular Golden Visa programme via property investment.This new regime does not affect the processes in progress and which have been approved under the law currently in force. Meaning, existing renewal processes and granting /renewal processes for family reunification which associated investment has been made until the end of this year (still in the period of the current law).&nbsp;For more details please contact JLL International Residential at +65 9671 9583 or&nbsp;<a href="mailto:internationalresi@ap.jll.com">internationalresi@ap.jll.com</a>&nbsp;To find out more about the Portugal Golden Visa program, &nbsp;join our live webinar &lsquo;Let&rsquo;s Talk Property. Portugal&rsquo;s Golden Visa &ndash; Residency Through Investment&rsquo; on Thursday, 22 April 2021 at 6pm.Register&nbsp;<a href="https://internationalresidential.jll.com.sg/event-calendar/22/apr/2021/portugals-golden-visa">here</a>&nbsp;&nbsp;

How to Invest In Portugal For Citizenship? Why is the Portugal Golden Visa so in-demand? And why are non-EU citizens applying in the hundreds?

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<div><div id="block-system-main"><article id="node-684" about="/news/2021/04/09/japan-residential-market-report-20202021-forecast" typeof="sioc:Item foaf:Document" data-sf-ec-immutable=""><div><div><div><img typeof="foaf:Image" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1618294419/olmwebcontents/ip/prod/kffennhh97wowraxd7uh.png" width="3211" height="1730" alt="" /></div></div></div><div><div><div property="content:encoded"><a href="https://internationalresidential.jll.com.sg/download?pdf=683&amp;return_to=news/2021/04/09/japan-residential-market-report-20202021-forecast" target="_blank">Download Report</a><div> </div></div></div></div></article></div></div><div>&nbsp;</div>

Japan Residential Market Report 2020/2021 Forecast

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Tokyo is one of Asia&rsquo;s most exciting and dynamic cities, and home to 14 million people. As the capital of Japan, it is the economic and political heart of the country. And it is also hosting the delayed 2020 summer Olympic games this year.With such strong fundamentals, it comes as no surprise that demand for real estate in Tokyo remains bullish.High-rise condominiums are extremely popular in Tokyo where buyer activity has been relatively unaffected by the Covid-19 pandemic. Low interest rates and tax breaks have helped sustain property demand during this period.Contrary to the trend in major cities where there was an exodus to the suburbs during the pandemic, Tokyo has seen the reverse, with an increased demand for new developments in central locations as people look to reduce their commuting times.In summary, Tokyo boasts a resilient and healthy property market.&nbsp;Beautiful neighbourhood of ShibauraLocated in the Minato ward in the south of Tokyo is Shibaura, a beautiful neighbourhood located&nbsp;between the eastern side of the&nbsp;<a href="https://en.wikipedia.org/wiki/Yamanote_Line" target="_blank" title="Yamanote Line">Yamanote Line</a>&nbsp;train and Tokyo Bay.Why did we choose this area for property investment?Continue reading!&lsquo;Shibaura&rsquo; has great investment potential and is expected to see further growth due to multiple ongoing redevelopment projects. It is also a beautiful and enjoyable place to live in with the stunning&nbsp;Rainbow Bridge, scenic canals, and a futuristic cityscape.It is also well connected, being close to the busy Yamanote Line and the Mita subway station.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1617186444/olmwebcontents/ip/prod/oo0xjvpmxksduaozynar.jpg" />View from Tamachi Station&nbsp;The famous "Keio University", a leader in education, research and medicine, is near Mita Station, making it popular with university students.&nbsp;<img alt="" height="338" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1617186497/olmwebcontents/ip/prod/dhab7iwapc4akmhtuwts.jpg" width="602" />Keio University&nbsp;&nbsp;&nbsp;Shibaura consists mostly of artificial islands created by the excavation of industrial canals in the early 20th century. It was developed into a residential and commercial area as early as the early 2000s, and many corporate headquarters are now located at the area.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1617186611/olmwebcontents/ip/prod/wuk7slmj1nufp75xtkbb.jpg" />Shibaura House&nbsp;The thriving community has excellent living facilities including parks, schools and supermarkets. As a result, the bay area is now very popular with middle-, and upper middle-class buyers and renters.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1617186665/olmwebcontents/ip/prod/il1iid71bcsmycz78fem.jpg" />Canal side&nbsp;End of the RainbowNearby, and adding to the district&rsquo;s attractiveness, is the symbol of Tokyo Bay - Rainbow Bridge, a suspension bridge crossing the northern part of the Bay. It is located between Shibaura Pier and the Odaiba waterfront development in Minato.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1617186813/olmwebcontents/ip/prod/hvnvmzabfzdpeclitbtq.jpg" />Rainbow Bridge&nbsp;Conveniently located along the road from Tamachi station to the Rainbow bridge is a vibrant scene of supermarkets, restaurants, and stores. Residents and visitors enjoy the attraction of the Shibaura Canal Festival every September and the beautiful blossoms of sakura flowers in Spring.Shibaura South Port Park is a scenic marine park under the Rainbow Bridge, which can be enjoyed during the day or night. This is where many Tokyo residents come to enjoy the first sunrise of the new year on January 1 and the park has open spaces, benches and a sports plaza where you can play baseball and football.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1617186858/olmwebcontents/ip/prod/sp720vrfd0gmkq4hwwds.jpg" />Park (under the bridge)&nbsp;Investment opportunity: Branz Tower ShibauraWithin this bustling and exciting district, Tokyu Land Corporation has developedBranz Tower Shibaura, a high-end residential building located in Minato-ku.Situated in the center of Tokyo, the development allows residents to gain easy access to vibrant Shibuya, Ginza Shopping area and Otemachi, Shinbashi Office area.The freehold development consists of 32 floors and 482 exclusive apartments. The tower is also equipped with impressive facilities for residents including a crown terrace, crown lounge, fitness studio and guest rooms.With these facilities and its excellent location in one of Tokyo&rsquo;s up-and-coming districts, Branz Tower Shibaura is sure to be a highly sought-after private residence this year.And with Tokyo back on the global stage again this year as it hosts the summer Olympics, the timing couldn&rsquo;t be better.&nbsp;&nbsp;To find out more about this exciting development join our live webinar&lsquo;Let&rsquo;s Talk Property: Spotlight on Tokyo&rsquo;&nbsp;on Thursday, 15 April 2021 at 6pm.<a href="https://internationalresidential.jll.com.sg/event-calendar/15/apr/2021/spotlight-tokyo">Register here</a>&nbsp;We will talk about the Tokyo property market, the impact of redevelopment in Shibaura and also introduce Branz Tower Shibaura to the Singaporean investors.Contact JLL directly for more information:&nbsp; +65 9671 9583 /&nbsp;<a href="mailto:internationalresi@ap.jll.com">internationalresi@ap.jll.com</a>&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1617186941/olmwebcontents/ip/prod/msiibsv8c8wm0da8qjbm.jpg" /><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1617186947/olmwebcontents/ip/prod/bgbtiryvwwko9motwg02.jpg" /><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1617186954/olmwebcontents/ip/prod/ugmq2ggwwzrvpofwo4x5.jpg" />

Where to buy a property in central Tokyo? Our pick: the Tokyo Bay area – Shibaura. Read more to find out!

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Thanks to the university, Cambridge is seen as a hotspot for research, science and technology, which encourages leading companies to set up operations in the city and its suburbs (Astra-Zeneca, Microsoft and GSK).After all, Cambridge is the home of world-changing discoveries such as the structure of DNA. But how attractive is the property market there?&nbsp;Cambridge tops the charts for property investmentWhile Cambridge has a global reputation due to its university, there&rsquo;s a lot more to this UK city than just a world-class education. It also has a thriving economy comprising leading hospitals and a science park that attracts global companies.Having a world-renowned university comes with many benefits. Beyond the rental demand created by its large student population, the congregation of experts at the University of Cambridge has also created a research and development hub, bringing in professionals,
 scientists and international investors to the city.As a result, there is a continuous demand for property in Cambridge and the surrounding area.&nbsp;StudentsThe student population at Cambridge is enormous, with 20,000 students at the University of Cambridge and 22,000 students at Anglia Ruskin University.Around one in five residents in Cambridge are students, including undergraduates and postgraduates undertaking study and research.Moreover Cambridge also has a number of good schools catering to all age group with both state and private schools available.&nbsp;Global companiesThanks to the university, Cambridge is a hotspot for science and technology research, encouraging leading companies to set up operations in the city (Astra-Zeneca, Microsoft and GSK). After all, Cambridge is the home of world-changing discoveries such as the structure of DNA.Home to the Cambridge Biomedical Campus, one of the largest centres of health science and medical research in the world, Cambridge is also a technology hub, boasting a large cluster of high-tech businesses from software, electronics and biotechnology
 to science and engineering, harnessing the very best talent from the University and beyond.Cambridge&rsquo;s science parks are a partnership between the university colleges and businesses. Together, they have helped make them a world leader in futuristic industries like software and biotechnology.These have all brought highly-skilled, well-paid jobs to Cambridge and created huge demand for real estate.Addenbrooke&rsquo;s Hospital is a major teaching hospital and a world leader in medical research, along with nearby Royal Papworth Hospital. Both are huge employers with several thousand medical staff, researchers and support staff working there.The Cambridge economy has regularly been the fastest-growing economy within the UK and is likely to remain so in the future.&nbsp;ConnectionsCambridge is already well connected, being close to two major motorways and just 50 minutes from London by Thameslink train. A new railway line , the East-West Rail project, is planned to be built within the next decade, connecting it to the cities of
 Oxford and Milton Keynes.A new motorway-standard road, the Oxford-Cambridge Expressway, will also connect Cambridge to the M1 and Oxford.&nbsp;Property marketGiven the high demand and limited supply, Cambridge&rsquo;s house prices are some of the highest in the UK. Property prices have risen 85% since the 2008 global financial crisis, putting it among the highest in the UK&rsquo;s major cities including London.In 2020 there has been a 9% increase in new sales compared to 2019 (Zoopla). Rightmove has recorded it's busiest ever start to a new year in 2021, with visits to the site up 30% compared with a year ago. Buyer enquiries to agents are currently up 11%
 year-on-year, rental enquiries up 22% (02.01.21-06.01.21 v 04.01.20 -08.01.20). According to ONS, average rental values across the UK rose by 1.4% in the year to November. The South West had the largest increase (2.3%) and Scotland had the smallest
 increase (0.6%)&nbsp;(source: JLL Research, 2021).With particularly strong demand for rented homes, Cambridge properties can earn landlords some of the highest rents in the country.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1616504818/olmwebcontents/ip/prod/Cambridge_image002.jpg" />&nbsp;North West Cambridge DevelopmentThe North West Cambridge Development is the most significant capital project in the University&rsquo;s history.It is set to be a billion-pound urban district and the masterplan includes architecture that has been inspired by Cambridge: college courts, active street life, homes, research facilities, parks and amenities needed to sustain a city.The first phase of this development, Eddington district is already hugely successful, with plenty more to come.&nbsp;<img alt="" height="440" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1616504819/olmwebcontents/ip/prod/Cambridge_image003.jpg" width="752" />&nbsp;Eddington and the wider North West Cambridge Development seeks to secure the University&rsquo;s long-term future and contribute to the City&rsquo;s growth by providing homes for key workers, students and the public in a vibrant place to live.It is a vibrant, new community with a school, nursery, shops, market square, sports facilities and more than 50 hectares of open space for residents to enjoy. It has been carefully planned to minimise its environmental impact with a forward-thinking approach
 to travel, energy, landscaping and construction.&nbsp;<img alt="" height="440" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1616504818/olmwebcontents/ip/prod/Cambridge_image004.jpg" width="752" />&nbsp;Investment opportunityJLL is marketing a new development called Knights Park in Eddington, north west Cambridge developed by Hill - the third largest privately-owned housebuilder in the UK.The first homes have been completed and some of them have already been released for sale on the open market.Five minutes&rsquo; walk from Knights Park is the University of Cambridge Primary School. Rated Outstanding by Ofsted, it is the first primary University Training School in the UK.For older children, there is a choice of Good or Outstanding rated secondary schools across the city, while the Cambridge Academy for Science and Technology offers a STEM curriculum at GCSE and A-Level.There are also a number of independent schools in the area catering to students of all ages, in addition to the historic and internationally renowned University of Cambridge.&nbsp;Unique selling points:&bull;&nbsp; Catchment area for University of Cambridge Primary School&bull;&nbsp; Thriving tech hub in Cambridge City Centre; Astra-Zeneca, Microsoft and GSK&bull;&nbsp; Hyatt Hotel coming soon to Eddington&bull;&nbsp; 53 minutes* to King's Cross London&bull;&nbsp; Innovative, modern homes set within beautiful green spaces with cycling and pedestrian friendly routes&bull;&nbsp; 1, 2, 3 bedroom apartments &amp; 3 &amp; 4 bedroom houses*&bull;&nbsp; First phase of the development&bull;&nbsp; Prices from &pound;369,950*&nbsp;Join us at our webinar on 25 March 2021 to learn more about the Cambridge Property Market and Knights Park.25 March, 5.30pm Register&nbsp;here<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1616504819/olmwebcontents/ip/prod/Cambridge_image005.jpg" /><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1616504819/olmwebcontents/ip/prod/Cambridge_image006.jpg" /><img alt="" height="505" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1616504819/olmwebcontents/ip/prod/Cambridge_image007.jpg" width="752" /><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1616504819/olmwebcontents/ip/prod/Cambridge_image008.jpg" /><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1616504819/olmwebcontents/ip/prod/Cambridge_image009.jpg" />&nbsp;&nbsp;Disclaimer: Jones Lang LaSalle Property Consultants Pte Ltd for themselves and for the vendors or lessors of this property whose agents they are, give notice that the particulars do not constitute, nor constitute any part of an offer or a contract. All statements, contained in these particulars as to this property are made without responsibility on the part of Jones Lang LaSalle Property Consultants Pte Ltd, or vendors or lessors. All descriptions, dimensions, and other particulars are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of the each of them. No person in the employment of Jones Lang LaSalle Property Consultants Pte Ltd has any authority to make or give any representation or warranty whatever in relation to this property. This form was produced solely for preliminary orientation on the property and is not a sales documentation. It does not constitute any offer or part of any contract for sale or otherwise. It contains data that has been provided to JLL by third parties and while we believe it is reliable, we have not independently verified it and take no responsibility for it. The projections, opinions, assumptions or estimates are included for examples only and may not represent the current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the Property and transaction. This is an overseas investment. As overseas investments carry additional financial, regulatory and legal risks, investors are advised to do the necessary checks and research on the investment beforehand. Computer generated images are indicative only.&nbsp; *Prices and details correct at point of publication. Terms and conditions apply.

Cambridge: More Than a University City

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When most people think of the cities of Europe, London, Paris and Barcelona spring to mind, for living in as well as buying property. As a result, this tends to push their property prices up given the investor demand. But Europe is a huge continent with lots of bustling cities when plenty of potential if you are willing to look further afield.One of these cities is Hamburg, which is Germany&rsquo;s second largest city after its capital Berlin. Traditionally, Germany has not been a priority market for overseas property investors based in Asia. Most usually look at the UK, Australia and the US when it comes to purchasing a second home or an investment property overseas.But more discerning investors have been looking at Germany as a way to diversify their property portfolios and improve their yields. Germany is also seen as lower risk than other markets like the UK post-Brexit. It also has the largest and most stable economy in Europe accounting for 20% GDP of the European Union (EU), which helps provide strong support for its real estate investment.Plus Hamburg, along with other German cities of Frankfurt and Munich are regularly ranked in the world&rsquo;s most desirable places in the world to live.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1615965611/olmwebcontents/ip/prod/ur8pi8f8mixteaoyozpp.png" />&nbsp;Strong backdropDid you know that there usually a shortage of suitable properties available in Germany? This is because it has strict housing policies that only allow a limited number of new-build constructions each year, restricting the housing supply. This also mean there are no wild swings in property prices but more stable and sustainable growth instead.Germany has a very accessible education system with free education provided up to high school and no general tuition fees for public universities. At the same time, many German universities are ranked as some of the best in the world and more foreign students are now studying there. This opens up opportunities for graduates to work there, and across other parts of Europe.It may come as a surprise but in Germany many people prefer to rent rather than buy. It is heavily embedded in the German culture. This strong demand for rental properties means there is a strong Buy-to-Let market which offers a steady source of income to property investors.&nbsp;Why Hamburg?Hamburg has around 1.8 million inhabitants and is both a city as well as a state. The metropolitan area is seven times greater than Paris and two and a half times greater than London. As a result, Hamburg has the largest average living space of all major cities in the world, leading to high standards of living and housing.The city is known for its beautiful tree-lined waterways and lush parks. In fact, Hamburg boasts 2,302 bridges, which is more than Venice combined with Amsterdam.On the economic front, Hamburg is a huge gateway to the world and home to Germany&rsquo;s largest port. This has helped make it an extremely international and culturally-diverse city that has attracted more than 3,500 international firms and employers.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1615965668/olmwebcontents/ip/prod/ygrmpavkmqa3i0b8gbnv.jpg" />&nbsp;City in a cityWithin Hamburg, a mini city called &lsquo;HafenCity&rsquo; is being developed as part of its maritime district. More than 7,500 residential units for around 15,000 residents are being built, as well as business premises offering in excess of 45,000 job opportunities (of which 35,000 will be in offices), plus educational institutions, restaurants and bars, retail, cultural and leisure amenities, with parks, plazas and promenades &ndash; after overall completion, 80,000 visitors per day are expected.This exciting project started in 1997 and is expected to be finished by 2030. This has opened up the number of properties available for purchase in Hamburg and its Buy-to-Let market is starting to flourish.JLL is selling a unique complex within HafenCity called Roots.&nbsp;The residential tower is 19 floors high and the tallest wood hybrid building in Germany.&nbsp;The development is also home to the German Wildlife Foundation, and includes a museum and restaurant while sitting in a waterfront location.Along with panoramic views over the River Elbe, buyers also enjoy guaranteed rental yields should they choose it as an investment property. These all make a very strong case to put Hamburg and the newly-developed Hafencity on your property radar.To find out more about property investing in Germany sign up to our livestream event on Facebook&nbsp;on 18 March.<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1615965860/olmwebcontents/ip/prod/ydw4mjtktus9n4o2ak1m.jpg" /><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1615965868/olmwebcontents/ip/prod/wi9j9izymvouliem0e3k.jpg" /><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1615965875/olmwebcontents/ip/prod/v42n6e9uakwsotkdxijs.jpg" />

Invest in Germany: Spotlight on Hamburg

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<div>The housing market has got the extended holiday many were hoping for and the clock is now effectively ticking for new buyers who haven&rsquo;t yet started the process of purchasing a home to take advantage of a reduced Stamp Duty charge.&nbsp;</div><div>Stamp Duty Extended Holiday&nbsp;According to Rightmove data it has taken an average of 54 days to sell a home since the holiday was introduced in July, down from an average of 70 days in the 12 months prior.Assuming the average time to sell a home remains at the current level, aspiring buyers have until 7th&nbsp;May to begin a purchase to take advantage of the holiday extension.Overall the Stamp Duty holiday has provided a much-needed confidence boost to the housing market following its full closure in March last year. However, its previous cliff edge ending on 31st&nbsp;March always risked seeing sales fall through increasing anxiety for aspiring purchasers. The extension will provide welcome relief to those purchasers and open the door to additional buyers. There now needs to be clear signposting introduced to ensure the cliff edge is not just pushed further down the road.&nbsp;2% overseas Stamp Duty surplusThis tax represents a big shift in UK Government policy away from an open trade policy &ndash; until now there has never been a consideration of an investors origin if they are looking to buy an investment home.This tax will undoubtedly create some market resistance for an initial period until it becomes accepted. It should be noted that many other competing cities already provide higher levels of overseas taxation so the UK&rsquo;s major cities should remain competitive on the international stage.&nbsp;First Time Buyer Mortgages95% mortgages have been all but non-existent for some time now so the Government&rsquo;s mortgage guarantee scheme is hugely welcome news for aspiring home owners who have long faced mounting affordability issues.&nbsp;Capital Gains Tax changesThe UK has obviously seen a significant increase in its debts as a result of supporting the country through the COVID pandemic. Those who can pay more tax, should pay more &ndash; that is only right and it fits with the levelling up agenda.Nearly half of the UK&rsquo;s privately rented homes are in suburban locations owned by small scale buy-to-let landlords. There could now be an increase in demand for this kind of housing stock from first time buyers looking to take advantage of the new mortgage guarantee scheme. The proposed changes to Capital Gains Tax could prompt of flurry of sales from landlords looking to exit before the changes take place. However, if there isn&rsquo;t sufficient lead in time before the CGT changes take effect, it could reduce the volume of rental stock coming to market. CGT is ultimately a discretionary tax, and if homes become bloated with that tax, many landlords will opt to sit on their asset and wait.&nbsp;Wholesale Review of Residential TaxesLooking ahead, the Government has announced a Tax Day on 23 March and this could include the commencement of a widespread review of residential property taxes.Reviewing how residential properties are taxed in the UK is long, long overdue.Council Tax is based on residential values from 1991, which frankly are a very poor reflection of the current market. Meanwhile, Stamp Duty is a hugely inefficient tax which is ultimately a potential hindrance to the future economic prosperity of the UK. It makes no sense for people to find themselves &lsquo;locked-in&rsquo; to their current home because of the tax burden of moving. People need to be able to migrate towards opportunities as easily as possible in the 4th&nbsp;Industrial Age and as part of the levelling up agenda.Government also needs to acknowledge that we have an ageing population and SDLT is a hugely punitive tax for those looking to descend the housing ladder and right-size in later life. Without enabling more people to downsize, we face many people continuing to live inappropriate homes for their needs which in turn forces Government to have to increase expenditure on health and social care.However, any significant changes in the tax system must be carried out with care, following a detailed consultation and with a sufficient lead-in time. Any replacement residential tax should carry a similar starting burden for individuals. The variance should then occur over time to allow householders to adjust their finances accordingly.&nbsp;Overall Budget ConclusionThere are many welcome announcements within this Budget. However, solutions to the housing challenge must also focus on providing homes to suit a greater variety of end user needs. Society has changed and we must move away from the concept of blanket home ownership. We need measures to support an increase in purpose-built rental homes which will professionalise the private rented market, providing long-term, secure housing, and raising the profile of renting as an aspirational lifestyle choice.And we need attractive, specialist later life housing which will help free up family homes and make more efficient use of existing stock.&nbsp; With people living longer, the UK&rsquo;s ageing population is typically under occupying family homes, but appropriate alternatives will encourage right-sizing.Measures to address the housing market should be targeted at increasing all forms of supply, not just increasing demand for Private Sale housing only.&nbsp;&nbsp;</div><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1615536793/olmwebcontents/ip/prod/xshfagqea2aubbkmhted.jpg" />Nick Whitten - Head of UK Living Research

Spring Budget 2021: Stamp Duty Holiday Extension

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St James, part of the Berkeley Group, has launched a new collection of parkside homes set within the green landscape of White City Living in London&rsquo;s W12.&nbsp;A world class social, cultural and educational destination&nbsp;Parkside residents will find themselves surrounded by world-class retail, entertainment, education, culture and commerce, with Westfield London &ndash; Europe&rsquo;s largest retail destination &ndash; on the doorstep, which is now home to the second branch of Harrods, the world&rsquo;s leading luxury department store.&nbsp;In addition, White City Living is located within 30-minutes of four of London&rsquo;s top five universities including University College London, London School of Economics and Imperial College London, which is currently developing a new 23-acre campus and innovation hub adjacent to the scheme. Families are also well catered for, with the prestigious Notting Hill Prep School and St Paul&rsquo;s Girls School located close-by, while Eton College and Harrow School can be reached within 40 minutes.Positioned moments from Holland Park, Notting Hill and Kensington, White City Living is home to more than 2,300 new homes alongside 60,000 sq ft of mixed-use commercial space and eight acres of open green landscaping, including the Exhibition Park which is a new five-acre public park.Residents enjoy outstanding transport connections to London and beyond. White City and Wood Lane Underground stations provide quick and easy access to key London hotspots including West End, Bond Street and Mayfair in less than 15 minutes.&nbsp;At home in natureAptly named Parkside, the new apartments overlook the Central Gardens and offer some of the best views of this new neighbourhood, located within eight acres of open green landscaping, including magnolia gardens and serene waterscapes.Designed by internationally renowned architects Patel Taylor, Parkside&rsquo;s elevated views face to the west, whilst the verdant gardens below epitomise the passing seasons.With a landscape designed by Murdoch Wickham, White City Living&rsquo;s extensive green spaces mean the new Parkside apartments are enveloped by nature. Residents can enjoy a network of water gardens and landscaping features, with all apartments featuring outside space in the form of balconies or terraces.Enhancing biodiversity and giving life to a spectacular landscape is key to St James&rsquo; regeneration vision; so far more than 6,400 native trees have been hand-selected along with a wide variety of native planting, which will provide valuable habitats for a range of wildlife.The landscape is almost entirely car-free to encourage a pedestrian approach and aims to deliver a greener environment. Electric car charging points are provided to all parking spaces, alongside an on-site car sharing club and secure cycle parking.&nbsp;&nbsp;A seamless experienceParkside includes suites, one, two- and three-bedroom apartments that are ideally suited to owner-occupiers looking to take advantage of all the area has to offer; including access to Imperial College London&rsquo;s largest campus, Westfield London and outstanding transport connections.Catering perfectly for modern life, residents enjoy access to White City Living&rsquo;s unrivalled private facilities which will be newly opened at the beginning of 2021. A state-of-the-art Home Club occupies more than 20,000 sq ft across two buildings. The Home Club is a multifunctional space to work, meet, socialise, relax, and keep fit. Residents also have access to two individually designed private lounges that provide a perfect place to work during the day or relax in the evening and a 24-hour concierge.Touch-free access technology is incorporated throughout all residents&rsquo; facilities. This innovative technology removes the need for residents to touch door handles or press lift buttons and switches, from the moment they arrive at White City Living.Mandy Wong, Head of International Residential at JLL in Hong Kong&nbsp;said, &ldquo;The UK housing market has been generating high interest from buyers in Hong Kong, with investors recognising its resilience even amid pressure from uncertainties following Brexit and Covid-19. A rising trend in remote working has led to growing demand from affluent young families for a flexible work-leisure space that has both access to nature and convenient technologies. Parkside embodies all of these features on top of having excellent transport connections and fantastic growth potential in its surroundings, making it a prime location for those who are looking to ride the tide of the transforming real estate landscape in the UK and make an ideal long-term investment.&rdquo;

St James launches Parkside at White City Living

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Matching Green has launched Dockley Apartments, an exciting new residential development located a stone&rsquo;s throw from the heart of Bermondsey and is set to complete in Q2 2022. The development offers 111 apartments across 8 levels, comprising of one, two and three-bedrooms, each with a generous private terrace and many with far-reaching views across London.&nbsp;Spacious outside living and sleek design for modern comfortThe apartments are finished to an excellent specification with contemporary interiors and stylish layouts. Each unit is thoughtfully designed to maximize space and light, from open-plan kitchens, underfloor heating to frameless shower screens. The apartments are wired for fibre optic broadband, essential for the emerging trend of working from home. The face of the development showcases an innovative tiered design, which allows for spacious private terraces for each apartment. Residents will exclusively benefit from a sheltered all-weather children&rsquo;s play area, landscaped central courtyard and two communal roof terraces with comfortable seating and year-round sunlight. The project is also equipped with secure parcel lockers to accept personal deliveries. Built to the highest environmental standards, with sustainable modern design and high-quality materials, this impressive development breathes new life into a historic industrial site.&nbsp;Perfectly located in a trendsetting yet historical districtDockley Apartments is conveniently located within a five-minute walk from Bermondsey tube station in Zone 2, ten minutes from the River Thames and vibrant Bermondsey Street. Canary Wharf, the business district, is only four minutes away on the Jubilee Line.Bermondsey, host to London&rsquo;s first railway, was named &lsquo;Best Place to Live in London&rsquo; in 2018 by the coveted Sunday Times. Known as a thriving hub for food and drink, Bermondsey hosts a wealth of bars, breweries, restaurants and cafes. The neighbourhood also offers parks, modern art galleries and an independent cinema, providing a rich cultural atmosphere. Sitting alongside Dockley Apartments are a collection of railway arches which, in conjunction with Matching Green, Monmouth Coffee and Neal's Yard Dairy, have been restored to create Spa Terminus where like-minded food production and distribution companies now occupy these spaces. From cheesemongers and greengrocers to butchers and brewers, Spa Terminus consists of companies who supply some of the absolute best food products on the market, all on Dockley Apartments&rsquo; doorstep.Along with Dockley Apartments, Matching Green is currently developing Dockley Road, a development of approximately 12,000 sqft of commercial and retail space. The project will create a new pedestrian street and a new series of commercial units opposite the railway arches, contributing to the range of artisan producers on-site. This will create a dynamic street open for Saturday market trading forming a key part of Southwark&rsquo;s Low Line walking routes and establishing an exciting centre of activity and enterprise.&nbsp;Units at Dockley Apartments start from &pound;544,500. For further information, please contact us.

Contemporary Apartments in Central London’s Thriving Neighbourhood

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New residential projects are creating rare opportunities for property investment in the UK's fastest growing economy within commuting distance of LondonWorld famous for its prestigious university, cutting-edge research and magnificent heritage, Cambridge is also one of the UK's leading technology hubs and fastest-growing economies.A huge student population, excellent career opportunities and convenient access to London ensure consistently high demand for residential property in Cambridge, and several new developments are providing opportunities for overseas property buyers and landlords.&nbsp;Best and brightestThere's more to Cambridge than its elite university, but the institution's influence on local life and the economy is undeniable. University colleges are spread across the city and one in five local residents are students, many of whom remain in the city after graduation for postgraduate research or recruitment into the highly-skilled local workforce.Cambridge's science parks are partnerships between the universities and businesses that continue to attract substantial overseas investment from the world's largest brands. These partnerships have been instrumental in growing Cambridge's reputation as a world leader in fields such as biotechnology, medical research, software and pharmaceuticals, particularly around the high-tech cluster nicknamed 'Silicon Fen.'The growing importance of Cambridge's technology and research sectors have placed the city among the UK's fastest growing economies in recent years. Less than an hour from London and international airports, Cambridge is a convenient location for businesses in all fields, and access will improve further with the new East-West Rail link and Oxford-Cambridge Expressway expected to open in the next decade.&nbsp;Country charm and city convenienceCambridge's reputation for work and study overshadows its other perks as a comfortable and stimulating place to live. Numerous performance venues, museums and art galleries provide one of the richest cultural offerings outside London, and a packed events calendar has something for everyone &ndash; from the live bands of the Big Weekend to the Cambridge Folk Festival and traditional Midsummer Fair.Cambridge's shopping and dining options are just as diverse. With three shopping centers, traditional markets, independent boutiques and the wide selection of restaurants, cafes and bars that modern city dwellers expect, Cambridge has all the attractions of city living with the English countryside on its doorstep.Families with children are also exceptionally well provided for in Cambridge, with many highly rated primary, secondary and independent schools in the area. These include the University of Cambridge Primary School, St Bede's Inter-Church School and Chesterton Community College, all rated 'Outstanding' by education authority Ofsted.&nbsp;Buoyant residential marketWith consistently high demand from domestic and overseas students, professionals and families, Cambridge property can offer investors and landlords some of the highest yields in the UK. The problem, until recently, was the lack of new supply. Cambridge's heritage architecture may be one of its greatest draws for visitors and residents, but stringent building restrictions have long stifled development in the small city, even as they maintained high levels of demand and prices.This situation is gradually improving as more new residential developments are opening up Cambridge and surrounding areas to investment. The Government's proposed CaMKOx Arc initiative for Cambridge, Milton Keynes and Oxford is also aiming to bring one million homes and 1.9 million residents to England's 'brain belt' by 2050 by creating new neighborhoods and amenities.One such district in Eddington, a new community less than two miles from Cambridge's historic city center designed by the University of Cambridge as a successful model of sustainable urban planning. Premium homes and apartments are now available in Eddington at Knights Park, combining modern living with convenient access to Cambridge, London and the surrounding countryside.

Cambridge city guide: Forward-thinking historic city

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One of the big lessons from this year in real estate has been the pandemic&rsquo;s resulting increase in demand for second lifestyle homes, not only among the ultra-wealthy but also the generally well-heeled, a trend that&rsquo;s only gained steam as the year has unfolded.With a vaccine still over the horizon, this shift out of city centres and into more spacious suburbs is spilling over into even more remote locales: mountain resorts, which have been growing in appeal with global investors.Not only are these areas less densely populated, making it easy to adhere to social distancing, but the rise of work-from-home (WFH) supported by modern technology infrastructure has made it a realistic alternative for the slightly more affluent.Activities like skiing and (in the summer months) golf are being indulged in across central Europe&rsquo;s mountainous regions as a welcome pandemic escape, with home offices and ultrafast broadband ensuring work life is not put on the back foot.Indeed, the whole idea of moving back to nature where life happens at a slower and more relaxed pace, and where homeowners can focus on wellbeing and health, has been a key trend in the real estate sector in a year that will be forever remembered for COVID.But even so, there have undoubtedly been winners and losers among those offering luxurious remote living.&nbsp;COVID escape: Health and wellness done sustainablyDevelopments that focus on advancing net-zero carbon goals, where buildings are highly energy efficient and powered by renewable sources, and where the promotion of green living is central to the development&rsquo;s core concept, will thrive as a matter of future-proofing investments.Premium mountainous real estate developments like Andermatt Swiss Alps in Switzerland, along with a handful of others in Europe, the US, and Asia, tick these sustainability boxes.With well-established local infrastructure and connectivity, homeowners can be online 24 hours a day seven days a week, remaining productive at the (home) office despite their apparent remoteness.At the same time, investors benefit from year-round activities that include those already mentioned (skiing and golf) but also extend to healthy lifestyle staples like trekking and cycling.We expect to see more families prioritising &ldquo;naturesque&rdquo; safe-haven homes, for all or part of the year, in the decade to come.In Switzerland in particular, not many areas allow for foreign ownership of real estate.This means that, in the long run, investment in these developments is likely to yield strong returns as supply inevitably outstrips demand, putting pressure on prices to appreciate.According to new research by JLL, health and wellbeing themes have emerged as measurable physical attributes that real estate investors increasingly look for in light of the pandemic, in order to secure a better quality of life for themselves and their families.<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1606811040/olmwebcontents/ip/prod/JLL_x_Andrermatt_byline_image001.png" />Notably, Asian buyers too are feeling the pull of Europe&rsquo;s snowy peaks as COVID drags on.As just two examples, studio houses in &lsquo;Frame&rsquo;, a new apartment block at Andermatt Swiss Alps that has been on the market since summer and will be finished in Q3 2021, has seen 10 per cent of all sales from buyers in Singapore.With an expected completion date of Winter 2021, newly launched apartment block &lsquo;Alma&rsquo;, which comprises ten expansive half-floor residences and one whole-floor penthouse, is already 70 per cent sold &ndash; despite the pandemic&rsquo;s impact on global property inflows.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1606811044/olmwebcontents/ip/prod/JLL_x_Andrermatt_byline_image002.png" /><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1606811043/olmwebcontents/ip/prod/JLL_x_Andrermatt_byline_image003.png" />&nbsp;Roughly 1 in 4 buyers across Andermatt&rsquo;s multibillion-dollar development now hail from key Asian cities such as Singapore and Hong Kong.Moreover, we&rsquo;ve seen a 45 per cent increase in apartment rates for all units at Andermatt as of July 2020 (compared to the same period last year), with total sales increasing by 53 per cent.Such data points act as further evidence of the growing appeal of Alpine living.&nbsp;Why Switzerland fits the billWith COVID firmly established as the backdrop&nbsp;du jour, Switzerland has emerged as an ideal investment destination &ndash; and there are a few key reasons for this.Thanks to a strong domestic consumer that continues to drive sales of second homes in mountainous regions away from densely populated cities, local economies in these areas have proven resilient despite the global shock.As already touched on, sustainability does matter to a new generation of real estate investors.Andermatt Swiss Alps is leading by example on this front, with a five-year plan towards achieving carbon neutral underway despite so much of the development already being integrated with the surrounding natural environment.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1606811042/olmwebcontents/ip/prod/JLL_x_Andrermatt_byline_image004.jpg" />&nbsp;Specific green initiatives include careful management of natural resources, golf courses that provide areas for nesting birds, a no &lsquo;cold beds&rsquo; targets for holiday apartments, noise reduction, cooperation with local businesses, environmental impact monitoring, carbon neutral heating, and electric power from 1,005 renewable energy sources.Green credentials aside, Switzerland is no slouch on hard investment economics, either.Its record speaks for itself; returns on investments in a diverse selection of properties at Andermatt Swiss Alps has averaged 8 to 10 per cent per year over extended periods of time.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1606811043/olmwebcontents/ip/prod/JLL_x_Andrermatt_byline_image005.png" />&nbsp;Once you factor in property appreciations along with rental yields, the return profile is clearly competitive with US equity market averages after dividends.you send us the test first??Moreover, the security of the Swiss Franc, the prospect of growth in capital values, and the viability of rental demand continues to speak well to buyers.&nbsp;A safe, central hub during a pandemicIn general, ownership in mountain regions tends to be a part-head and part-heart decision, where investors can enjoy the health and wellness elements of mountain living without sacrificing access to major European hubs like London, Frankfurt, Paris, and Rome.<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1606811041/olmwebcontents/ip/prod/JLL_x_Andrermatt_byline_image006.jpg" />It&rsquo;s now beyond dispute that the Coronavirus crisis has made people all over the world consider how they plan to live in future.Contrary to initial expectations, demand for property and sales volume in regions like Andermatt has grown substantially this year, as well-heeled buyers come to appreciate the safety, flexibility, and health opportunities such locations represent.More broadly, the luxury housing market in Switzerland has performed well with prices increasing by 3.6 per cent over the last 12 months, according to Wuest Partners.In our view, demand should continue to grow as the feasibility of remote working improves and the necessity to be within proximity of the office becomes less of an imperative.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/v1606811042/olmwebcontents/ip/prod/JLL_x_Andrermatt_byline_image007.png" />&nbsp;For further information contact JLL International Residential directly at&nbsp;<a href="mailto:internationalresi@ap.jll.com">internationalresi@ap.jll.com</a>.

Swiss Alps real estate finds favour with Asia’s investors during COVID

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<div>Shortage in supply of new-built condominium pushes up demand in resale marketThe sustainable growth of the Japan property market has been supported by a steadily growing population in the metropolitan areas. As such, the shortage in supply of new-built condominium is leading more people to turn their eyes towards relatively new condominiums in the resale market.The Japanese traditionally favour new-built housing, but recent trends tell us that there has been a change in people&rsquo;s perceptions towards the age of a building or property. In this report, we will look at more insights from the recent trend in the resale market.&nbsp;Demand for housing remains strongThe population growth in metropolitan areas like Tokyo have been showing a steady increase. COVID-19 has changed our living and working styles in various ways, but the impact on housing demand is limited. Market observers commented that more people from the city central areas are moving to spacious houses in countryside when working from home (WFH) was being introduced during the state of emergency in April 2020. Indeed, according to the survey by Tokyo Shoko Research survey, 56% of companies adopted WFH at the time. However, in August, the number of companies who continued to WFH was reduced to 34.40%.</div>&nbsp;Survey on Working From Home 2020<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753432/olmwebcontents/ip/prod/vdzcayua4svld4mu3u7u.png" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753432/olmwebcontents/ip/prod/vdzcayua4svld4mu3u7u.png" /></a>&nbsp;Large companies have higher adoption rate of 61.31%, which is almost double that of mid-to-small size companies.&nbsp;<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753522/olmwebcontents/ip/prod/uoxedqfsent4jqasu3wx.png" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753522/olmwebcontents/ip/prod/uoxedqfsent4jqasu3wx.png" /></a>&nbsp;<div>Participant Rate of Working From Home - Aug 2020In terms of participant rate, majority of large companies responded that no more than 30% of their employees adopted WFH. Even so, majority of these employees WFH only partially, i.e. biweekly or a few days in a week. Therefore, relocating to countryside is not a practical option for the majority, as commuting to work is still required and thus good connectivity remains important.&nbsp;&nbsp;</div><a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753576/olmwebcontents/ip/prod/bolllnkpqujgimiqeffs.png" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753576/olmwebcontents/ip/prod/bolllnkpqujgimiqeffs.png" width="400" /></a>Looking at the demographic movement in Tokyo, COVID-19 did affect the population movements, but not to the extent to call it as a population outflow. Indeed, demography by nationality showed the decrease in population was largely contributed by foreign residents returning to their countries. As of August 1, Japanese population has increased by 58,114 comparing with January, while foreigner population has reduced by 4%.&nbsp;<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753609/olmwebcontents/ip/prod/gooapwrzefhlrhkrntav.png" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753609/olmwebcontents/ip/prod/gooapwrzefhlrhkrntav.png" /></a>&nbsp;In the long term, population growth is still in an upward trend.&nbsp; If we look at the population growth oOn year &ndash;on- year basis, the Japanese population remains in healthy growing trend compared to last year. Therefore, the impact of COVID-19 on population growth is limited to the foreigners which attributes to a short-term factor and has not affected the long-term growth greatly.<div>Here I would like to highlight that in the long-term, population is growth has not been affected that much. Though there wasn't the regular April population growth due to state of emergency, but population is still in growth trend, so COVID-19 didn't hinder the population growth much. Y0Y basis, it is still in growing trend&nbsp;&nbsp;<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753660/olmwebcontents/ip/prod/hahw2j01zvvc7mjbsv7o.png" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753660/olmwebcontents/ip/prod/hahw2j01zvvc7mjbsv7o.png" /></a>Fortunately, real estate sales activity has sprung back to what it used to be before COVID-19. There is still a great demand for condominiums from the local owner-occupiers and the decrease of foreigners do not seem to affect sales. When businesses resumed after the state of emergency, local buyers started actively looking for housing like before. On year-on-year basis, there were even more transactions in the resale market in August 2020.<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753695/olmwebcontents/ip/prod/w41kl5umauprcvpslbjq.png" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753695/olmwebcontents/ip/prod/w41kl5umauprcvpslbjq.png" /></a>&nbsp;Shortage of supply in new-built condominiumsIn recent years, the supply of new-built condominiums in Tokyo has been decreasing, despite the growing population and housing demands. The choice limitations turned buyers to the resale market for secondary alternatives. Land acquisition has always been very competitive in the already developed central areas in Tokyo. As city urbanization continues, the shortage of supply in new-built properties is expected to push up the demands of resale apartments.The next graph shows the transaction volume of resale versus new-built properties in Tokyo 23 wards over the past ten years. The transaction volumes of resale market showed a gradual increase, while the new-built condo supply slowed down after 2013.</div><a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753738/olmwebcontents/ip/prod/ixn7gp4ccdahjsqkwkiu.png" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753738/olmwebcontents/ip/prod/ixn7gp4ccdahjsqkwkiu.png" /></a>Properties below 20 years are actively sought afterNew-built housing has always been the most preferred option for Japanese, because historically, houses in Japan were built by wood. It was believed that the newer the house, the better would be its durability. However, the situations are different today. With fewer new-built options and the advancement of superior construction qualities, resale apartments are generally now more accepted.As more buyers opt for resale markets as a substitute for new-built apartments, it resulted in most transaction volumes concentrated in the relatively new buildings with age below 20 years. In terms of the transaction ratio against the supply, the buildings aged between 6 to 10 years show the highest demand last year, followed by those of 11 to 15 years, 16 to 20 years and 0 to 5 years.<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753767/olmwebcontents/ip/prod/cnvjsb92105xoouet1mh.png" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753767/olmwebcontents/ip/prod/cnvjsb92105xoouet1mh.png" /></a>&nbsp;Recommendation is up to 15 years oldThe observations showed that the highest transaction volume is for resale properties within 20 years old. Therefore, investing in property below 15 years is the best recommendation when we consider the exit timing as well. Although buildings of 20 years old may sound &ldquo;old&rdquo; for overseas investors, the locals feel differently. Traditionally, the Japanese adore new-built properties, but more people are now realizing that the construction qualities after the turn of the millennium have become excellent to provide strong durability. This is especially so for properties from established developers which are well-maintained in very good conditions, that makes &nbsp;little difference when compared to the new-built ones.Many Japanese developers have their own prestige brand names for their condominiums. Therefore, they put in their utmost efforts in maintaining their quality and reputation. Often, the building management is by developer&rsquo;s subsidiary company so as an assurance that the same brand quality will be achieved.Because of the superior construction quality, it is unlikely that owners of such condominiums will need to pay substantial amounts for maintenance in the first 10 years. That is why many property management companies offer guarantee plans that cover minor repair costs, as there is not much expense expected during that timeline.After the first decade, some replacements of appliances like air-cons, dishwashers, water-heaters may be required due to service lifespans, but in general, the properties will look no inferior to new-built ones and are equally competitive in the markets.&nbsp;Property price continues to grow in prime locationsBoth resale and new-built condominiums in Tokyo have been on a steep price growth since 2013. The growth until 2016 were largely affected by the great expectations towards Tokyo Olympic game, which has brought significant impacts on the property markets not only in Tokyo central, but also to surrounding areas. The growth in the most recent years was due to more sustainable and rational factors. Good connectivity, prime locations, redevelopment and superior quality apartments are enjoying appreciation, whereas those properties without these factors are being left behind from the continuous growths. &nbsp;The demand for a good property in terms of quality and location is expected to remain strong in central area, as working in office is still a daily norm for majority. The shortage of new home supply will continue, as land acquisitions will remain competitive in prime locations, which in turn will push up values of the existing good properties. It is therefore a good opportunity to widen your options to consider resale properties with strong growth factors.<div>Back in 2013, almost any property near Tokyo could have price appreciation, but now, the real "good" property can continue to grow. &nbsp;</div>&nbsp;<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753919/olmwebcontents/ip/prod/bl1xzfdzndoobxzuh6m2.png" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753919/olmwebcontents/ip/prod/bl1xzfdzndoobxzuh6m2.png" /></a>&nbsp;For more details you may contact JLL International Residential at +65 9671 9583 or&nbsp;<a target="_blank" href="mailto:internationalresi@ap.jll.com">internationalresi@ap.jll.com</a>&nbsp;<div><div><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605753971/olmwebcontents/ip/prod/dveybwaorcefjcj3plv6.jpg" /><div><a href="https://internationalresidential.jll.com.sg/download?pdf=656">Download Brochure</a></div></div><div><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605761516/olmwebcontents/ip/prod/cwwv2njfxuicgpzwqbz1.jpg" /><div>Read more: <a href="https://internationalresidential.jll.com.sg/news/2020/11/19/internationalresidential.jll.com.sg/news/2020/11/11/guide-buying-and-selling-property-japan-costs-documentations-and-taxes" target="_blank">Guide to Buying and Selling Property in Japan: Costs, Documentations and Taxes&hellip;</a></div></div></div>

Japan Resale Property Market Overview, November 2020

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Buying ProcessBuying process of resale property is very much similar to that of a new-built property.The payment schedule is very straight forward, with a 5 to 10% down payment upon exchange of contract and the balance payment will be upon delivery of property. The whole transaction in general will take around 2 to 3 months.&nbsp;DocumentationsFor the documentation process, the buyer needs to prepare an Affidavit/Declaration before the exchange of contract, as a proof of identity and for registration of ownership purposes.<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605765572/olmwebcontents/ip/prod/hkvchkmzgttb7nhafz4c.jpg" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605068896/olmwebcontents/ip/prod/z13lmwshmkzmqx0trq5b.png" /></a>CostsThe estimated costs upon purchase amount to 5 to 8% of property price, inclusive of agency fee and related taxation.<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605765656/olmwebcontents/ip/prod/ufbyr6lkfiawettmsebi.jpg" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605068914/olmwebcontents/ip/prod/osngmih1aocixawiwq8t.png" /></a><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605068815/olmwebcontents/ip/prod/k6f2gs0mvzrjwnjj8bzq.jpg" />&nbsp;Selling ProcessTo list the property on the resale market, the owner needs to exchange a brokerage agreement with an appointed agent after deciding the desired selling price.Once a potential buyer has made an offer and after the buying conditions and schedule are confirmed, the contract will then be exchanged with a 5-10% down payment. To save on remittance costs, all payments from the buyer are usually kept by agent first.After receiving all the payments and deducting the necessary costs, the agent will remit the net income to the seller.&nbsp;DocumentationsThe owner shall prepare Affidavit/Declaration before the exchange of contract to prove identity. Also, the title deed of the property needs to be submitted before the delivery of the property.If you have bought a property through JLL, the title deed would have been delivered to you after the handover. If you have problems locating the title deed, please contact your respective salesperson and we will be able to assist.<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605765706/olmwebcontents/ip/prod/fjvmtqob0lycvrzslhjs.jpg" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605068922/olmwebcontents/ip/prod/wxljqiqnnmpjw2cfwb3e.png" /></a>CostEstimated cost for selling property can amount to 4 to 5% and exclusive of Capital Gain Tax as it can vary case by case. Capital Gain tax is imposed on the net profit that the seller makes from the transaction. The taxation rate is either 30.63% on properties held for less than 5 years, or 15.315% on properties held over 5 years. Please note, that the holding period starts from January 1 of the new year. Eg. If the handover of the property is September 2020, 15.315% rate will apply from January 1, 2026.<a href="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605765734/olmwebcontents/ip/prod/nsprfch2yryt5w00uj5f.jpg" target="_blank"><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1605068930/olmwebcontents/ip/prod/xtroajo6ao7vza9mqom5.png" /></a>For more details you may contact JLL International Residential at +65 9671 9583 or&nbsp;<a href="mailto:internationalresi@ap.jll.com">internationalresi@ap.jll.com</a>

Guide to Buying and Selling Property in Japan: Costs, Documentations and Taxes

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Our lives now revolve around our homes more than at any point in the past 250 years. In 2020, Covid-19 has accelerated a trend which is making our homes the centre of our lives once again with technology being the great enabler allowing us to satisfy our needs and wants in our homes.Our Residential Forecasts 2021 will look to the future and offer valuable insight on:<ul><li>UK house price and rental value forecasts for the next five years</li><li>Expected future housing starts and levels of transactions over the next half a decade</li><li>Which cities will witness the highest house price growth?</li><li>Will the Covid-19 pandemic trigger large-scale de-urbanisation?</li><li>What role is technology playing to satisfy our increasing needs and wants in our home?</li></ul><a href="https://internationalresidential.jll.com.sg/download?pdf=651&amp;return_to=node" target="_blank">Download Report</a>&nbsp;Nick Whitten our Head of UK Living Research discusses our latest forecasts in the video below.&nbsp;<div><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" frameborder="0" height="315" src="https://players.brightcove.net/1268729899001/default_default/index.html?videoId=6205798275001" width="560"></iframe></div><a target="_blank" href="mailto:Nick.Whitten@eu.jll.com">Contact</a>&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1604912845/olmwebcontents/ip/prod/qt27xzgqlcyhacnzpcq1.jpg" />Nick Whitten &ndash; Head of UK Living Research

UK Residential Forecasts – Home is… for everything

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Latimer Homes launches high-spec apartments and townhouses in the heart of thriving Salford Quays, home of MediaCityUK&nbsp;The UK's fastest-growing economy outside of London, Manchester in North-West England offers the best of modern city living at more affordable prices than the British capital. The former textile powerhouse is today best known for its sports and culture scenes, but a thriving economy and strong and stable property returns are making Manchester a compelling option for overseas property investment in Europe.As employment, educational and social opportunities continue to draw professionals and students to Manchester from far and wide, the supply of new housing is struggling to meet the high demand, driving up prices and creating opportunities for developers and investors. Property values in Manchester have grown by 19 percent since 2016, according to the Land Registry, and Jones Lang LaSalle (JLL) is projecting a further 17.1% increase in the next five years, with consistent growth of 3 to 3.5 percent per annum in sales and rental prices.Manchester's urban regeneration is creating opportunities for developers to address this shortfall and add more homes to sought-after areas, particularly in the popular waterfront district Salford Quays. New developments such as Amplify Apartments by Latimer Homes are providing contemporary homes within walking distance of local attractions and a short tram ride from the city center.&nbsp;Thriving waterfront communitySalford Quays can trace its history back to the Victorian period when it was one of the UK's busiest commercial docks. Following the closure of the docks, this prime real estate close to the city center was transformed into a fashionable business and leisure district, incorporating notable cultural venues such as The Lowry Theatre and Imperial War Museum, watersports centers and media hub MediaCityUK, the new home of the BBC and ITV Studios.Salford Quays is less than 15 minutes from Manchester city center and business parks, making it a convenient address for living and working in the city. World-class facilities and international connections at nearby Manchester Airport have convinced many leading global brands, including Google, Amazon, Adidas and 80 of the FTSE 100, to establish regional offices in Manchester. With more than 1.4 million people working in the Greater Manchester area across sectors ranging from legal and accounting to fashion, media and retail, the city's diverse economy is projected to grow by 2 percent per annum, above the UK average.Manchester is also a major university city, where over 100,000 students attend 10 notable institutions including the local Salford University, University of Manchester and Manchester Metropolitan. With a 59 percent student retention rate, most young people prefer to continue living, working and renting in Manchester after graduating, contributing to the steady demand for well-connected property.&nbsp;Riviera lifestyleAmplify Apartments at Salford Quays combines scenic waterfront living with access to the best Manchester has to offer via convenient tram and road links. Buyers have a choice of one, two or three-bedroom apartments and duplex townhouses, with a help-to-buy scheme and Shared Ownership options offering a choice for every budget.All residences are appointed with high-spec fittings including integrated Bosch appliances, connected media services and full-height windows making the most of natural light and views over The Quays from the higher floors. More views can be enjoyed from the private residents' rooftop garden, while a hotel-style concierge in the entrance lobby can take care of all requests.&nbsp;For more details about Amplify, you may contact JLL International Residential at +65 9671 9583 or&nbsp;<a href="mailto:internationalresi@ap.jll.com">internationalresi@ap.jll.com</a>

Connected city living on The Quays: Amplify Apartments, Manchester

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Despite the challenges posed by Covid-19, new housing schemes, developments and initiatives in the UK continue unabated.The beauty of a city like London is that it has such a wide variety of vibrant districts spread across its vast metropolis. Most of these are steeped in rich heritage, dating back to Victorian times and beyond.One of the lesser-known areas in central London, is called the Silk District and sits in the east of the city. Back in the 17th&nbsp;century, the Hugenots were forced to flee France and brought their silk-weaving skills to this part of London. Before that you couldn&rsquo;t buy silk in England.While most Londoners will know the area as Whitechapel, the Silk District is being revitalised thanks to some new regeneration projects.&nbsp;This historic part of the city&nbsp;currently ranks in The Telegraph's Top 20 Places to Invest in London.&nbsp;Whitechapel visionThe Mayor of London&rsquo;s&nbsp;&ldquo;Whitechapel Vision&rdquo;&nbsp;is a &pound;300m investment to improve the local area, creating a new shopping destination, public squares and first-class educational opportunities.The regeneration plan aims to create 5,000 new local jobs, a new street market, seven public squares, a research campus, parks and a medical research centre.<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1602666668/olmwebcontents/ip/prod/mzf3ityq1gq9hlwptir0.png" />&nbsp;Widya Lesta, Head of International Residential, JLL Singapore&nbsp;said:&ldquo;Whitechapel's proximity to both London's major financial districts and ongoing regeneration promises it to be a key destination for impressive buy to let investment growth.&rdquo;&nbsp;Up-and-coming neighbourhoodThe area is a magnet for city execs, technology workers and creative types with the ultra-cool Shoreditch enclave close by.A major part of the regeneration includes the opening of the high-speed Crossrail train network in 2021. When this opens, residents can reach Central London in 10 minutes or less. This improved connectivity is likely to spur healthy rises in property values in locations that have Crossrail access.&ldquo;There is currently huge appetite to invest in Whitechapel,&rdquo;&nbsp;Peter Gibney, director at JLL, commented.&ldquo;This area was first identified by JLL&rsquo;s Crossrail tool as offering the highest price growth potential compared with other Crossrail stations.Together with the emerging creative commercial hub and unparalleled convenience of location for both work and leisure, Whitechapel looks set for demand for residential investment opportunities to continue to outstrip supply.&rdquo;&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1602666731/olmwebcontents/ip/prod/zxt548r4i7s2cybhzdaw.jpg" />&nbsp;&ldquo;Neighbouring high-performing areas like Old Street and Spitalfields have seen staggering returns over the last five years, which demonstrates the best is yet to come.The Bouchon (the last phase of The Silk District) offers a great opportunity for savvy buyers and investors, and it&rsquo;s the last chance to buy in this up-and-coming development.&rdquo;Even without Crossrail, the Silk District and wider Whitechapel is on the edge of London&rsquo;s city centre located in the Zone 1 transport network.In fact, the Silk District is excellently located in between two of London&rsquo;s largest financial districts, the City of London and Canary Wharf.&nbsp;Strong growthThis part of London is predicted to grow strongly by 2024. The average price growth of the Silk District development is expected to be more than twice that of other new builds in the same postcode.While London&rsquo;s financial districts are very close, so too are a number of world-renowned universities including Queen Mary University, UCL, London Metropolitan University and King's College, which are all within 15 minutes.The Silk District&rsquo;s close proximity to these financial and educational centres guarantees a steady influx of people looking to rent or buy properties.&nbsp;And with a low price per square foot compared to neighbouring boroughs, the Silk District is ranked top by JLL for future price growth potential.&nbsp;New developmentsThe Silk District development is designed by Stockwell Architects and features a 24-hour concierge, secured underground parking, a cinema room, a private gym, rooftop gardens and a large commercial space.&nbsp;<img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1602666842/olmwebcontents/ip/prod/r9f3nqy4ici3moyrsfcj.png" />&nbsp;We have already successfully launched three phases of the development and now the fourth phase is ready to launch. For investors, a two-bedroom rental property in the Silk District could command a premium rental price and capital appreciation over the next few years.Ongoing area regeneration and Crossrail&rsquo;s arrival is the catalyst for a 25% projected price growth by 2024.This weekend, 16th&nbsp;&ndash; 18th&nbsp;October, JLL Singapore will launch the final phase of The Silk District &ndash; The Bouchon.It is the tallest building in the development, rising to 25 floors, offering stunning views of Canary Wharf and the City.&ldquo;The Bouchon offers would-be buyers the last chance to buy within our development, The Silk District, which is scheduled for completion in spring 2024,&rdquo;&nbsp;Jon Hall, sales director at Mount Anvil.Could Whitechapel&rsquo;s Silk District be the investment opportunity you are waiting for?Register your interest&nbsp;<a href="https://internationalresidential.jll.com.sg/event-calendar/18/oct/2020/silk-district">here.</a>&nbsp;<div>Download our brochures for more information:</div><div><div><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1602667128/olmwebcontents/ip/prod/yl77ibw4u84pxodbz3ju.png" /><div>The Silk District, The Bouchon <a href="https://internationalresidential.jll.com.sg/download?property_id=802729&amp;brochure_id=3048029&amp;brochure_title=The%20Silk%20District%20The%20Bouchon%20Brochure&amp;d_type=brochure">Download Brochure</a></div></div><div><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1602667184/olmwebcontents/ip/prod/farr5mpprkjawdhby0et.png" /><div>The Silk District, The Bouchon <a href="https://internationalresidential.jll.com.sg/download?property_id=802729&amp;brochure_id=3047745&amp;brochure_title=The%20Silk%20District%20The%20Bouchon%20Factsheet&amp;d_type=brochure">Download Factsheet</a></div></div><div><img alt="" src="https://jll-global-gdim-res.cloudinary.com/image/upload/t_ip-image-optimization/v1602667192/olmwebcontents/ip/prod/emho4mrfrt5fvwgyj7kb.jpg" /><div>Whitechapel Investment Guide <a href="https://internationalresidential.jll.com.sg/download?pdf=647">Download PDF</a></div></div></div>

Smooth investors are picking London’s Silk District

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The regeneration of Shoreditch in the East End ranks alongside Canary Wharf as one of London's great success stories of the 21st century so far, but its rise to prominence has been more rapid. The past decade has seen many of the world's best and brightest creatives relocating to be part of the emerging East London Tech City &ndash; nicknamed the 'Silicon Roundabout' as London's answer to Silicon Valley, and home to many of the same names, including the likes of Google, Facebook and Amazon among thousands of ambitious startups.The explosive growth of Shoreditch has made available property scarce, and new residential developments are highly in demand by professionals and local and overseas property investors who are keen to capitalize on house price increases, set to be greater than in Central London. One of the most significant new residential projects entering the market this year is The Makers, a mixed-use development of 175 private residential units, exclusive amenities and a college, located off a quiet street with convenient access to Tech City and the London lifestyle.&nbsp;Work-life balance in ShoreditchShoreditch has global appeal for creatives and tech-savvy entrepreneurs for its collaborative startup culture, business support facilities and excellent transport connections. London City Airport is just 26 minutes from Old Street station by train (four minutes' walk from The Makers), while Heathrow Airport is 50 minutes away. Journey times across London and South East England will be improved when Crossrail services begin at nearby Liverpool Street station in 2021, which will also give a boost to house prices and rents in the surrounding area.Convenient transport links put other London experiences in easy reach, but there's no shortage of restaurants, bars, shops and cultural venues to serve the local community. From bargain hunting at Old Spitalfields Market to catching events at the Barbican and dining out in Islington, there's plenty to enjoy within walking distance. Shoreditch is also a remarkably green part of London, abundant with canalside parks and other recreational areas.Families moving to Shoreditch with children will be pleased to know that it's in the capture area of some of the city's most prestigious schools, while higher education institutions such as King's College, Central St Martin's and the London School of Economics are within 30 minutes' travel. The development at The Makers also includes a co-located school, New Regent's College, which will provide state-of-the-art education for pupils aged 5 to 16.&nbsp;Design-led luxury livingTucked away behind busy City Road on the corner of Nile Street and Jasper Walk, The Makers is a collaborative project between established developers Londonewcastle, the LondonBorough of Hackney and the Local Education Partnership. Avanti Architects were tasked with designing this new residential landmark, which draws inspiration from the surrounding architecture and rises 28 stories, including a 7-story podium block.The interiors by Woods Bagot have a distinctly 1920s flavor, from the grand, double-height entrance lobby to the brass fixtures. Buyers can choose from studio flats, two or three-bedroom apartments or family duplexes and penthouses adding more premium finishes and furnishings. All residents will enjoy views over Canary Wharf, the City of London and the West End from their balcony or terrace, as well as use of private communal facilities including a gym and treatment room, screening room, lounges, garden terraces and a 24/7 concierge.A number of units at The Makers are now available and ready for occupation. Buying before the end of March 2021 means overseas property investors can qualify for Stamp Duty and Land Tax (SDLT) relief, making a London property purchase more affordable.&nbsp;

The Makers, Shoreditch: a peaceful retreat in Europe's technology capital

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At the heart of East London Tech City, ascendant Shoreditch is a hotspot for commercial and residential investmentShoreditch's long climb from Victorian slum to prime London property market isn't only a welcome challenge to Central London dominance, it also reflects the changing fortunes of the East End at large. Transformed by technology, Shoreditch is at the heart of the UK's leading digital cluster, the so-called 'Silicon Roundabout' that's home to the world's leading tech brands and countless ambitious startups.With heavy public and private investment continuing to fuel growth in the years ahead, the Shoreditch property markets are among the fastest growing in London as businesses and professionals make their new homes in the East End. Jones Lang LaSalle (JLL) forecasts residential sales and rental price growth to outperform Central London in the coming years, contributing to East London being one of the UK's most important growth drivers by 2030.A further boost in house prices is expected with the opening of the new high-speed Crossrail Elizabeth Line at nearby Liverpool Street, Moorgate and Whitechapel stations. Currently scheduled for 2021, Crossrail will improve journey times across London and to major airports, making a Shoreditch address even more attractive for international business, entrepreneurs and other professionals.&nbsp;The rise of Tech CityLike London's financial center Canary Wharf and other regeneration success stories, Shoreditch has humble origins. In the 19th century it was the site of one of London's most notorious slums, but even back then, its artisan traders earned the area a reputation for creative enterprise.Technology and media companies arrived at the end of the 20th century, but it wasn't until the 2008 global financial crisis forced older businesses to close that fresh blood could enter Shoreditch, taking advantage of its excellent transport connections and property discounts to establish a new innovation hub centered around Old Street station.The last decade saw investment pour into the emerging East London Tech City, which became the world's third largest startup cluster after San Francisco and New York, with co-working spaces such as IDEALondon, TechHub and WeWork supporting small business growth and encouraging collaboration. Soon, the startups were joined by the likes of Amazon, Cisco, Facebook, Google and Intel, cementing Shoreditch as a leading technology center in Europe.&nbsp;Old meets newEven with the area's digital rebirth and growing wealth, many aspects of life in Shoreditch have remained resolutely unchanged. The historic markets of Brick Lane and nearby Spitalfields still draw the crowds, while traditional restaurants and independent boutiques sit side by side with contemporary coffee shops, microbreweries and Boxpark, the eye-catching pop-up container mall.Convenient access to the London Underground and Overground puts the city center and Crossrail services from Liverpool Street just minutes away, including international connections to London Heathrow and City airports. Living in Shoreditch means having convenient access to all the British capital has to offer, from world-class schools and universities to iconic attractions and nightlife.&nbsp;Modern city livingWith demand high and supply limited for Shoreditch property in convenient locations close to stations and business facilities, developers are busy bringing high quality residential property onto the market with furnishings and services that will satisfy the discerning modern professional.One of the stand-out new developments is The Makers, a collaboration between developer Londonewcastle and the London Borough of Hackney that offers 175 new homes, five-star resident amenities and a co-located college in a quiet residential area off City Road. A limited number of units have been made available for overseas property buyers who are eager to invest in one of London's best performing areas.