North London estate agent Statons has recently witnessed interest from Middle East investors. Nick Staton comments: “Over the past couple of weeks we have spoken to new clients in the Middle East, who have asked about opportunities in North London – within easy access to Central London, but where prices are much more realistic.”

As central London becomes more “unaffordable”, having seen price hikes of 44 per cent since the pre-crash peak and with a further 7 per cent expected this year according to a recent report from CBRE, workers and families have been moving further out, this is now extending to the international market. Nick continues “Traditionally Middle East buyers have only been interested in Knightsbridge, but that has completely changed – the next generation are looking at outer London and the suburbs in zones two to five.”

In the same report CBRE highlights that buyers from the Gulf account for 20 per cent of the market for newly built residential property in prime central London, and this is set to increase. Nick continues “Prices in Central London are becoming excessive, with Mayfair prices at £3,000 per square feet and up to £6,000 per square feet in Knightsbridge. In North London they are a lot less. We have just launched a super prime, very exclusive collection of apartments in Hadley Wood – Renaissance, by London developers Heronslea Group has the luxury of a Mayfair home, but at North London prices, just £1,000 per square feet, and located in zone 5, it is just 30 minutes into Mayfair and Central London.”

The development is a unique collection of eight three-bedroom apartments, set within private gated grounds, featuring a spectacular galleried entrance with hotel style concierge service and basement parking. The luxurious interior designed apartments are generously proportioned and feature high specification throughout, cutting-edge technology, landscaped gardens and private terraces.

Jason Rishover, CEO of Heronslea Group adds: “London continues to remain the destination of choice for international investors, due to its infrastructure, stable political and legal framework and quality of life. As a city London has always attracted investors from the Middle East, but we are now increasingly seeing many individual buyers purchasing residential property and treating London as a second home.”

“North London has a cosmopolitan feel and boasts excellent leisure facilities, green open spaces and schools, as well as being close to several airports. The homes at Renaissance are more in line with Central London properties. International buyers have been drawn to the development due to its prime location, superior build and gated, secure community – which make it ideal for those needed a ‘lock up and leave’ service.”

Renaissance is situated in Hadley Wood, North London, a highly sought-after residential area surrounded by parks with a large range of amenities. Leisure facilities nearby include award winning golf courses, a tennis club and Trent Park. Located in zone five, Renaissance is a short walk to the underground and only 30 minutes into zone one (Central London). By road the development is a short distance from the A1, M1 and M25. Apartments at Renaissance start from £1.95 million. For further information visit Heronslea Group visit www.heronslea-group.co.uk.

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