Strong demand for Canary Wharf development

July 14, 2015

Canary Wharf has to be one of the most desired places to live in the capital, in close proximity to central London, an array of pubs and restaurants and close to main underground station and what will be crossrail, no wonder when a new development of appartments came up for sale a couple of weeks ago they were sold out within a few hours.

A mix of home buyers and investors were happy to queue for the latest residential tower which will not be finished being built until 2019, over 230 appartments ranging in price from £350,000 to £1.25m sold out in a single morning according to Galliard Homes.

Stephen Conway, the chief executive of Galliard Homes reportedly  said  that the international buyers that have invested in Maine Tower were dominated by Greek, French and Italian buyers looking to sink their money into London property and invest in sterling.

Mr Conway further said “The regeneration of this industrial site adjoining Millharbour Dock and the forthcoming Crossrail link is a game changer in connecting Docklands with west London, homes in the locality will benefit from capital value uplift and sustained sales demand from rental investors and owner occupiers.”

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Commercial Agent Talk

Exploring the Financial Success of Real Estate Ventures: Tycoon Real Estate’s Journey

The real estate industry has long been regarded as one of the most lucrative sectors for investment, with countless individuals and companies building substantial wealth through property acquisition, development, and management. Among the many businesses that have sought to make their mark in this field, Tycoon Real Estate stands out for its innovative approach and…
Read More →
what is proptech
Proptech News

Improving Your Credit for Home Financing: The PropTech Advantage in Real Estate

Navigating the home financing process can be a daunting task, especially if your credit score isn’t where it needs to be. For many prospective homebuyers, a low credit score can mean higher interest rates, less favorable loan terms, or even a denied credit application. However, thanks to recent advancements in PropTech (property technology), there are…
Read More →
Finance

How AI in AML is Revolutionizing Financial Crime Detection?

Technological advancement, specifically artificial intelligence, is altering how financial institutions handle threats of money laundering. Conventional means for identifying financial crime take a long time and involve a heavy reliance on some manual procedures. Such processes are accelerated with the help of AI technologies, increasing the results’ effectiveness and accuracy. In 2024, the role of…
Read More →
Breaking News

Halifax House Price Index for August

UK house prices edge up to hit two-year high   House prices in August 2024 were 4.3% higher than the same month a year earlier. House prices increased by +0.3% in August, after +0.9% rise in July Year-on-year prices are up +4.3%, the strongest rate since November 2022 Higher annual growth largely reflects the base…
Read More →
Breaking News

Nationwide House Price Index for August

Annual house price growth edged higher in August   UK house prices fell 0.2% month on month in August Annual growth rate picked up to 2.4%, from 2.1% in July Fastest pace of annual growth since December 2022 Energy efficiency becoming more important in influencing what buyers will pay for a home   Headlines Aug-24…
Read More →
Breaking News

Rightmove Points to Worsening Crisis in Private Rented Sector

Responding to data published today by Rightmove suggesting that the number of former rental properties up for sale is now at its highest level on record, Chris Norris, Policy Director for the National Residential Landlords Association, said: “Today’s data will be a serious concern for all those renters struggling to find somewhere to call home. …
Read More →