Half a million new apartments to be built in London in the next 10 years

The mayor of London Boris Johnson announced the construction of four new building sites in London, each of which rapidly will be built residential properties, so necessary now London. It Havering, Enfield, Redbridge and Tower Hamlets , together, these areas will give the city of 12,000 new apartments, 3500 of which will be classified as “affordable housing”.

All in all, the so-called “Residential Area” will be built 45109 housing units, of which 14055 units of affordable housing.

For this construction was allocated from the Fund for the city of £162 million Building is a joint effort by city government and municipalities. Residential zones will include two new railway stations, a large new Park, a new primary school, shops and entertainment venues. Thus will be solved the problem to turn the once abandoned area on the outskirts of London in a vibrant residential campuses, where They will work, relax and entertain guests.

Property prices in London are rising almost continuously for nearly 20 years. The exception was the period before the elections in may 2015, when, because of the risk of the coming to power of the labour market of Prime London property experienced a capital outflow from foreign investors. Now, when the situation on the political space of the United Kingdom returned to normal, the market regains lost ground and demand on the elite housing market again exceeds supply.

As a result of growth in property prices in London in recent years, each year increasing the price gap between London and other UK regions. These prices are deprived of the possibility of ordinary Londoners the chance to become owners of their own house or apartment in London. The government of London is not an easy task is to provide the city more than 500 thousand units of new housing in the next 10 years, with an emphasis on affordable housing.

The government plans to build in London short-term total of 20 “Housing zones” similar to those that were announced by mayor.

® Helen Antre 29.06.2015

More than 325 % over two years has earned our clients

In the UK, reduced Stamp duty

Immigration to the UK

Entrepreneur visa. Tier 1(Entrepreneur)

Why buyers from Russia should not fear sanctions

Land and types of ownership of property UK

Tax on capital gains in the UK

The process of buying real estate

What “Stamp duty”

LEAVE APPLICATION FOR SELECTION OF REAL ESTATE