According to recent data (CBRE) , Croydon is poised for a 63% increase in office rents by 2017, thanks to the borough’s regeneration initiatives.
As well as Inspired, Croydon has received the backing of investors and developers including the Berkeley Group, L&G, Hammerson and Westfield.
In terms of commercial real estate, Savills believe rents will rise from £24.50 per square foot to £40 per square foot, shifting Croydon in the right direction for achieving the highest rental increase of any property market.
Due to the area’s revival and influx of upmarket properties, prices of residential are also predicted to increase by at least 20%.
Leading Estate Agents, Foxtons, have highlighted how investors are noticing the amount of opportunities that are further afield than just central London. They go on to state that there has been a ‘resurgence in Croydon, with a boost to the infrastructure in areas such as leisure, entertainment and employment, which has attracted home buyers, making Croydon one of `the’ places to live in the coming years.’
Price of an average property in London has increased by 44% since 2008
Fastest growing London borough – Croydon
House prices in Croydon have increased by:
320% in 20 years
35% in 5 years
11% in 12 months
The average property price in Croydon – £300,000
Inspired Homes start at – £234,950
Considering all of these facts, Croydon is an exceptional place to buy. Not only does it offer a unique and energetic lifestyle, but properties in the area make a superb investment!
If you’re not sure whether Croydon is where you want to be in ten years time, don’t worry! People change and so does their taste…but, one thing that won’t change is that there is a lot of money to be made by owning a property in this borough.
To find out more, please contact Inspired Homes on 020 7495 0523.