LONDON, UNITED KINGDOM
AVERAGE SALE PRICE
London, United Kingdom
Neighborhoods in London has long been sought after by investors as a ‘safe’ spot to invest in. Knightsbridge is one such neighborhood where the majority of the properties are owned by either foreign investors or people who has a home elsewhere. Older population who previously owned and lived in the area sold their properties for a hefty profit, rendering even less residents in the area. Retail has thus suffered, and many shops and restaurants has closed doors due to the lack of inhabitants in the area. The price of real estate remains high, however, as investor confidence is high.
Featuring some of the most ‘iconic’ houses of London, these brown brick townhouses also comes with a hefty price tag. Knightsbridge is heralded as one of the most expensive neighborhoods in London, and unfortunately also one of the emptiest. Parts of Sloane Street, Hans Place and Cadogan Square are reported to have parts where a quarter of the homes sat empty. Since 2015, rumors regarding to vacant properties tax is being circled amongst the London real-estate market, and it is likely a similar measure will be executed in the future.
RELATED MEDIA COVERS
THE GUARDIAN: Empty homes in England: get the data by local authority
THE GUARDIAN: ‘It’s like a ghost town’: lights go out as foreign owners desert London homes