Since everyone who settles in London wants to own property, it becomes essential for the government and developers to search the ways of improving the space utilization.
Then only it will be a healthy, happy and beautiful place to live.
What is the best way to achieve it? Well, the government and local authorities have several plans, but regeneration of properties is the most effective one.
Every year, there is a separate budget kept for improving the appearance, economic importance and overall value of underprivileged or neglected areas.
Isn’t is an excellent opportunity for those who are looking for a property? Yes, if you are one of those, then get benefited by these localities which will come up promisingly in the next few years.
What are the areas that have transformed?
Due to significant investment and infrastructure development and regeneration projects, several areas have come up with a new face.
Of course, all of them are not the same in growth prospects. However, it is guaranteed that buyers will get appreciation for what they invested.
Crossrail and Woolwich are the best examples. Due to the immense development, they become attractive localities. The prices are still affordable there.
Another example is Corydon. Due to the great regeneration happened already (and several projects are in the pipeline), it brings superior living opportunities.
The place has convenient transport links and many commercial offerings. These two reasons make the regeneration projects big hit.
Superb living conditions at a reasonable rate
Price is a significant constraint when one tries to buy property in London.
Though the property market has gone through a challenging phase due to a drop in the prices, the rates are still beyond the capacity of normal buyers.
In this situation, regeneration properties bring a new ray of hope.
There is a possibility of getting a good property at lower prices by bargaining. In the regeneration areas, today the prices are at the lower side. However, in the coming years, they will get premium status.
Since the buying price today is lower than the average price in London, the percentage increase will be phenomenal once the rates go high after regeneration.
In short, it is a profitable deal.
Regeneration properties are ideal for young, first-time buyers
Due to outstanding growth opportunities and good lifestyle, London is the heartthrob city of youth. Every year, thousands of young professionals come to settle in London.
Since the professionals are in the early phase of the career, they can’t spend much on buying a property. Owning a property in a posh area is beyond imagination for these professionals.
Regeneration properties are the best for them because they are available at reasonable price, and the growth prospects are splendid.
It is the reason; young professionals show a great interest in these properties.
Experts suggest that buying a property in a promising regeneration area is an intelligent move.
Since the rates are going up, it will be easy to buy a buy a high-caliber property by selling it in future. The mortgage liability will get reduced.