There are plenty of 'hotspots' in London that provide excellent investment opportunities for buy to let landlords, according to a new study.
The report from Knight Frank entitled London Hotspots: Residential development opportunity areas, predicts that certain areas such as Hammersmith, Marylebone, Fitzrovia, Earl's Court and White City will receive major redevelopments and see an increase in property prices of more than 30 per cent before 2016.
Commenting on these findings, rental property specialist Roger Southam explained that the reason why developers may have selected these locations could be down to the local authorities and their willingness to provide new homes, as well as accessibility to the City and rail networks to other areas.
"As for those who are buying in these hotspots, I believe the majority are investors [are] either buy-to-let landlords or foreign buyers," he explained.
With the new US Embassy being constructed in Nine Elms, a large workforce is predicted by 2017, so the St George and St James homes are most likely to be purchased by professional landlords looking to rent to these workers or non-domiciles themselves, Mr Southam predicted.
The expert added: "London will always be a strong property market, especially for investors, because it is an unparalleled international city."
He explained that job opportunities, financial markets and cultural attractions make