What are the different types of accommodation in London ?

Different types of accommodation are available in London: studios, apartments, houses, youth hostels and hotels. Rents vary according to the number of rooms, the neighborhood and access to transport. The cheapest accommodations are studios and roommates, usually at a distance from the center.

The further you get from downtown, the lower the rents are. The price of a studio in the center is usually the same as that of a three-room apartment in the periphery. Outside of London, from where the journey to the center cannot exceed 20 minutes with a train from the national network, you can rent a whole house for the same price.

Find accommodation in London

The apartments and houses are free and take care quickly in London. Advertisements posted on sites such as Gumtree find takers and disappear from sites in the day, even in the hour. It is important to monitor the real estate market closely and to be quick.

First, make sure you have all the documents you need when signing the lease. You could also set up e-mail alerts for homes that meet your criteria and may be of interest to you. It is also advisable to conduct your research at least once a day, with real estate agencies or on the Internet.

As soon as you have located the accommodation that suits you, call the owner or real estate agency as soon as possible to make an appointment. If you are satisfied with the accommodation when visiting the premises and want to rent the accommodation, confirm quickly.

The real estate market in London

Most Londoners prefer renting because the city is one of the most expensive in Europe in terms of real estate purchase. The London real estate market continues to grow rapidly, with prices climbing visibly.

If you’re serious about buying accommodation in London, Greater London can often be more affordable and you can have more space. You will find, for example, houses with garden.

Buying real estate prices in Central London average £ 1,459,408, £ 600,000 in Greater London and £ 400,000 in areas like Waltham Forest.

Important things to mention

Real estate loans are also granted to foreign nationals.

Buying a property in London can be a worthwhile investment in the long term, saving you a lot of money in terms of rent. Many owners rent their property to boost their return on investment.

It is important to find a serious seller or a reliable real estate agency. You can find real estate agencies online or just in the busy streets.

Buy accommodation in London

The procedures for purchasing a property may take at least eight weeks. Your legal representative will handle the exchange of contracts on your behalf. It will, among other things, check the validity of the title deed, carry out research on the housing environment with the local authorities and review the sales contract before you sign it.

In addition to that, you are required to pay a deposit of approximately 10% of the selling price to the seller when you formally agree to purchase the property.

Warning:

If you decide to go back after paying the deposit, the seller will not refund the deposit. He could even claim damages for breach of contract.

Investing in a London property: benefits and drawbacks
New tips on how to avoid rental scams