Loves the London location

If I can only buy one London apartment, this would be the one. The location is just excellent. It is in Zone 1 and within walking distance to Leicester Square, Piccardilly circus and Chinatown. If you miss chinese food in London, you can just swing by the Chinatown which is just 5 mins walk. Can't get better than this for Asians or overseas chinese. It's heart of most action in London and you can catch the popular musicals there too. Will I invest now? I don't think so as there will be more policies coming to curb the rising property prices in London. Most of which is vacant and owned by foreigners as a hedge against inflation. This has prompted many calls to the government to do something about it so I believed something major will happen soon.

Furthermore, this property doesn't come cheap. It cost about GBP 527,100 pounds as advertised and it ranges from 296-429 Sqft.  This works out to be GBP 1,228-1,780 psf. That's SGD2,603 - 3,773 psf. That's expensive and London property is nearing the peak now so better to just wait. 

London Property Bubble to Burst?

Looks like all the hot cities around the world is trying to curb property speculations. Now it is the turn of London. From Apr 2015, all overseas investor will face a property tax on any profit made. Currently it only applies to citizens and residents while foreign buyers do not need to pay any tax. The tax rate is up to 18% of any profit made while 28% for more expensive properties according to the The Guardian.

I believed this new policy will no doubt affect the London property prices as 18% tax is no small change for investors. 

London's Battersea Power Station Property anyone?

I have been MIA for quite long mainly due to some heavy traveling. Anyway, since i was in London 2 weeks ago, i did a little bit of research on the Battersea Power Station project. 

SP Sertia is launching Battersea Power Station in London which is in Zone 1 but across the Thames river. London sounds interesting as there are lots of things you can do in UK. There are many world class museums, famous musicals playing everyday, rich history, beautiful scenery in the country side and many many more.

It was advertised at GBP343,000 for 400 sqft (non river facing) for a one bedder. This works out to be GBP858 psf which is about SGD1,629 psf.

The area is actually a regeneration of a former industrial area. This is how it actually looked like from afar.

And this from really far. Well, it is actually taken from the vauxhall station (bottom left corner of the map) as there isn't any underground serving that area now. In future, it is said that there will be a direct line to Leicester square.  That's a really a major plus point as Leicester square is a very popular place. Chinatown is there too for those who miss chinese food when abroad. Well, in London, you can find almost any kind of food there. It is really cosmopolitan and it is no longer just englishman there. You can no longer tell the city just by looking at the faces. It may be because of their lax immigration policy and many political asylum seekers.

On the other end of the river thames, you can see the London eye (from Vauxhall station).

Some views of the other properties near to vauxhall station. 

The last picture has nothing to do with the properties but it is just me enjoying a cup of cappuccino overlooking the Tower Bridge.

Is it a good time to buy a London property since now Sing dollar to the pound is at an all time high? I recalled the mighty pound was as high as 1 GBP  to 3 SGD during my student days.  Now, it is less than 2 SGD.

However, the gains seem to be eroded by the rise of the London property prices too. It could be just marginal gain over the years. There are many articles in the internet that says the boom is over for London properties (not until 2019). There're lots of theories to back this up and also further government's intervention. I think that's probably enough to adopt a wait and see approach.