London unsurprisingly remains one of the world's most desirable cities in which to invest in property. There is tremendous room for growth - London is the least densely populated major city in the world. In Central London there are just 55 people per hectare resident whereas in Central Paris, for example, there are 213. The population is 8.5 million and going up by over a million more people per decade.
Demand has continued to swell, despite Britain's decision to exit the European Union, because London is arguably the most important and exciting city on the planet. It is Europe's largest city and it is unique in that the political, economic, arts, fashion and education centres of the UK are all in the same city, so there is huge international draw, with London acting as a magnet for global talent.
With 18 million visitors a year and over 300 languages spoken across the city, London continues to excite property investors, who recognise that across the world London is unique as a safe bet. Buyers and investors are making long-term decisions based on the high demand and limited supply equation and are happy to accept modest returns in the expectation of long-term capital growth.
Despite uncertainty over Brexit, London has topped the global rankings in the first Alpha Cities Index. The index, which aims to determine the most desirable city in which to buy high end homes, has been compiled by Warburg & Barnes in association with Wealth-X. It ranks cities on a range of practical, emotional and financial factors, and awards each a mark out of 100. London, with a score of 77, beat off competition from New York (75), Tokyo (70) and Sydney (61) to take the top spot. London residential property still holds the most appeal for the world’s super-rich, despite being buffeted by the Brexit vote and a rise in stamp duty. According to the Alpha Cities Index, compiled by Warburg & Barnes in association with Wealth-X, London reigns across three main differentiating factors: practical, emotional and financial.