Prime London markets are expected to outperform prime regional and mainstream UK markets over the next five years, says Knight Frank Malaysia associate director, international residential project marketing, Dominic Heaton-Watson.
Heaton-Watson said given that prices in prime central London have corrected by more than any other UK market over the last five years, the firm anticipates this to support growth in the medium term.
He said growth will also be boosted by the lifting of international travel restrictions and quarantine measures.
Knight Frank's price forecast is +17 per cent (2020-2024) for prime central London and +15 per cent (2020-2024) for prime outer London.
Heaton-Watson said momentum and improving sentiment in the UK housing market since the 'lockdown lift-off' continued to build in the third quarter (Q3) of 2020.
Mortgage approvals for house purchases rose from 88,500 in August to 91,500 in September – the highest figure in three years, he said.
"Knight Frank now forecast prices in prime central London and prime outer London to increase by four per cent and five per cent respectively in 2021 as the market strengthens," he said in a statement.
Introducing The Imperial to Malaysian investors
Knight Frank Malaysia and St George, a member of UK's the Berkeley Group, have launched The Imperial, a 30-storey signature building at the heart of Chelsea Creek - an open and expansive canal-side development in one of London's most exclusive neighbourhoods.
The Imperial, on completion in the second quarter of 2023 will be one of the tallest residential towers in Chelsea.
The interiors are inspired by Chelsea's rich arts and design culture with a contemporary reimagining of London's traditional style including details such as bronze ironmongery and brass finishes.
The Imperial features 157 homes comprise a collection of Manhattans, one, two, and three-bedroom apartments, and four duplex penthouses in a unique waterside setting in prime central London just moments away from the King's Road.
Starting prices for The Imperial begin at £825,000, placing the development firmly in the sights of savvy residential property investors.
Heaton-Watson said Knight Frank Malaysia is delighted to unveil The Imperial - an enticing London residential development - to investors in Malaysia.
He said The Imperial has a long list of fundamental investment characteristics for clients to be strategic about their purchase.
"The tone is set for the building from the moment you enter, with the reception's luxury finishes and considered interiors continuing through into apartments that boast functional yet contemporary specifications of the highest standard, suitable for the Malaysian investor community."
The design of the homes has taken inspiration from Chelsea's rich arts and design culture to offer a contemporary reimagining of the traditional London style of living.
Both the Knightsbridge and Kensington Collection feature marble flooring, 3D contrasting wall tiles with brushed brass finishes, brass ironmongery, and composite stone kitchen counters.
Heaton-Watson said as working from home and significant investment into interior layouts becomes the 'new norm', bright, open-plan, and spacious living areas at The Imperial will provide residents with the comfort and flexibility needed in today's modern living environment.
St George City managing director Marcus Blake said The Imperial's launch is a significant milestone for Chelsea Creek, which has become an established residential destination on the River Thames and close to some of London's most iconic landmarks.
This enviable riverside location with the exquisite local gastro delights and boutiques of Chelsea, make it an incredibly attractive prospect for those looking to enjoy luxury high-rise living in prime Central London, he said.
"The carefully curated interiors, open spaces, and tranquil waterfront surroundings make The Imperial one of the finest new places to live in central London. With luxury wellness amenities that give residents a five-star living experience as part of a sociable waterside community, the development has been meticulously designed to meet every need and provides ample opportunity for socialising and relaxation.
The Imperial's residents will have dedicated five-star amenities, including the luxury wellness facilities located at Compass House, which has a spa, swimming pool, rain shower, Scandinavian-style sauna, steam room, treatment room, and a fully equipped gymnasium.
