London prime property prices 'will probably remain buoyant'

It may be a good idea for buy to let investors in London to take out landlords insurance to protect their assets, as one expert has said the value of prime properties in the city is likely to remain high.

Ed Mead, director at Douglas & Gordon, explained foreign buyers are supporting the buoyancy of the market and they will probably not lose interest.

"The only possible change on the horizon is that there has obviously been a lot of turmoil in the eurozone," he said, warning this could cause significant changes.

"But at the moment there seems a very strong momentum towards trying to keep the euro together," the specialist added.

This is protecting the best London real estate for the time being and there are no indications foreign buyers are dropping out of the market, Mr Mead stated.

His comments followed a recent report by Knight Frank, which said the average prime central London property increased in price by one per cent in November and 12.6 per cent in the past 12 months.

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Posted by Luella Ravelin