The strengthening Ringgit along with an impending stamp duty hike on overseas investors and a sluggish local real estate market have seen Malaysian buyers acquire London properties at a record pace.
The Pound fell against the Ringgit in September after an August stretch that saw some of the most unfavourable exchange rates in two years. The sudden strengthening of the Ringgit was one reason buyers have acted quickly in re-entering the London property market.
Malaysian buyers are also wanting to take advantage of the UK Stamp Duty Holiday Benefits while at the same time avoid a two percent stamp duty surcharge for non-UK tax residents purchasing real estate in the UK that goes into effect next April.
These factors have seen property investors act with a greater sense of urgency when it comes to purchasing residential real estate in London. But this demand isn’t simply limited to central London locations. Areas such as Kingston upon Thames are growing in popularity due to the long-term potential they hold.
According to CBRE, property prices in Kingston upon Thames are set to increase by 12 percent in the next five years while rental prices will rise by 16 percent during this time.
Why Kingston upon Thames?
Kingston upon Thames has direct access to central London, a vibrant lifestyle scene and is surrounded by some of London’s largest green spaces which makes it appealing to a diverse section of renters and buyers. London Waterloo can be reached in 30-minutes by rail from Kingston train station while the A3, M3 and M25 are all a short-drive away.
Transportation links with central London are being strengthened even further with a GBP30 million refurbishment around the train station. Crossrail 2 will provide even greater connectivity with it being possible to reach the West End in 30 minutes once operational.
Meanwhile, the town centre is undergoing a GBP1.5 billion transformation that will build upon Kingston upon Thames’ impressive lifestyle choices. Plans call for a GBP400 million development of Eden Walk that will create new shops, restaurants and cafes along with a boutique cinema and homes.
Even with all of these modern comforts, Kingston upon Thames remains one of the greenest boroughs in London. It is close to a pair of London’s largest Royal Parks; Richmond Park and Bushy Park. This combination of city and nature is one of the main reasons it is among London’s most desirable places to live.
The premier Kingston upon Thames property investment opportunity
Located in Greater London, historic Kingston upon Thames was once a place where Saxon kings were crowned. Today, it is a cosmopolitan town known for green spaces, schools and happening lifestyle areas, such as Market Town.
Just a few steps away from all of these is Royal Exchange, a new development from St George, a member of Berkeley Group. The project truly embraces the history of Kingston upon Thames. It is being developed around the Grade II listed Old Post Office and Telephone Exchange, two buildings that are more than 100-years old. The landmarks are being restored as part of the project and will become a new social, cultural and lifestyle hub for the town once finished.
These will be complemented by several new buildings containing one-, two- and three-bedroom apartments and penthouses designed with modern residents in mind. Each unit features quality materials installed by skilled craftspeople ensuring that fittings and finishes are of a high standard.
Living spaces have been carefully planned to be practical while still exuding a fine aesthetic design. All of this work is part of St. George’s belief that a home should be a statement of style. You can see this for yourself by taking a 3D tour of one of the apartments in Royal Exchange
Additionally, those living at Royal Exchange will have access to private courtyard gardens and several upscale amenities, including a residents’ only gym and cinema room.
Royal Exchange is the best Kingston upon Thames property investment currently available. With rental rates and property prices predicted to increase and time running out before the stamp duty surcharge for overseas buyers goes into effect, now is the best time to invest.