A Tiny Home in a Big City: How to Purchase a Studio Flat in London?
Studio flats are relatively affordable option for singletons, students and young professionals coming from all over the world, and especially for those wishing to start out in property investment. Therefore, they are first to be bought in any building project in London.
Location is vital
Studios are relatively small – up to 500 sq. ft - and self-contained units which almost have no alternative for those who want modern but economical home in the city centre. If you are just stepping on a property ladder, buying a studio flat is a great option because they offer quite good rental yields.
When buying a studio flat as a commercial buy-to-let investment, its location is the first thing to be considered. Even the cheapest options will be overpriced if you choose a studio with poor connectivity or far from the tenants flows. Of course, it all depends on the budget you can afford. And it’s a common knowledge that the further away from Central London you go, the more you will get for your money.
Minimal asking prices for studio flats as of April 2019:
- in Central London – £269,000
- in Outer London - £140,000
The Nationwide's chief economist, Robert Gardner, said recently that while the number of properties coming onto the market has slowed, this doesn't appear to have been enough to prevent a modest shift in the balance of demand and supply in favour of buyers in recent months.
Reliable guidance is a must
Purchasing a property is a big investment, even if it’s a small studio, so you need to step in there with your eyes wide open and with a trustworthy guide to show you all hidden pitfalls. Ready Property International is a dedicated team of real estate experts who can do this research for you and help you find the best option. No budget, time frame, location, or property preference is too great a challenge for us. With access to the UK’s leading real estate databases and extensive international contacts, we have a wide range of offers, both on and off the market. The more options you have, the better the chance of the right choice and of your investment paying off.