A Belgravia address comes with an ultra-high price tag. But buying a property in this exclusive area of London remains a wise investment
If you are in search of property for sale in Belgravia, what are some of the considerations you might want to take into account?
Where is Belgravia?
Homes in the central London district of Belgravia are among the most expensive in the UK. This is because of their prime location. Belgravia lies south-west of Buckingham Palace, with Knightsbridge running along the northern boundary, Grosvenor Place to the east, Sloane Square to the west and Pimlico to the south.
The names alone, therefore, give a clue to the long history and iconic status of Belgravia as one of the most fashionable London addresses.
The Price of Exclusivity
With that status and reputation, of course, comes a particularly high price tag. Not only is Belgravia known for the very high price of its residential properties, says Wikipedia, but it is one of the wealthiest districts of the world.
For the past two centuries or so, Belgravia has been one of the most sought-after places in which to live – it exudes an exclusivity which property investors cannot fail to notice.
A home in Belgravia’s Eaton Square, for instance, is probably one of the most prestigious in the world. When you are buying in Belgravia, it is probably true to say that you are buying into the best of class – a status likely to be recognised by many people in the world.
With that exclusivity goes the ordered and leafy calm and tranquillity of a quiet pocket of residential properties are nevertheless but a stone’s throw from London’s bustling and vibrant streets.
Who Buys in Belgravia?
The lure of an exclusive address, the opportunity for investing in high-end property and the desire to invest in currencies other than their own has attracted many foreign buyers, notes the website blog House Price Predictions, with investors coming from many corners of the world, including Hong Kong and Russia.
27% of property buyers in Belgravia were British as recently as 2012, by 2014 that had risen to 53%. And with that change has also come the return of what is more akin to an English village atmosphere in this green and leafy corner of London.
The nationality of buyers may have changed, but prices have continued their inexorable upward rise – average property prices have more than tripled in the past 10 years, with those in Belgravia outstripping other prime London addresses such as Mayfair, Kensington, Knightsbridge and Chelsea.
Choosing Your Property
When choosing a property to buy in Belgravia, you might also want to take into account the slightly changing patterns of preference for the type of residence. In the past, for instance, the preference may have been for the tall, stuccoed townhouses for which Belgravia is renowned.
However, there is now an equally strong demand for high-end apartments in the district.
While many home hunters may look at property for sale in Fulham or even turn to letting agents in Harrow, buying a residential address in Belgravia may come with an ultra-high price tag but it is one of the best decisions you are ever likely to have made.