Goldenberg Real Estate Foretells Supply Shortage in Central London Residential Property Market

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As we enter 2007, we can look back on a surprising 2006 in the central London residential property market with demand for houses being unprecedented against a background of supply shortage.

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Tenants are more demanding than ever and best rents will only be achieved in return for the highest standard of interiors Where there is a selection of homes to choose from, the one offering a stylish interior designed lifestyle will be snapped up, while the others will linger.

According to Gorldenberg Real Estate, as growth continues in the central London flat and house market, more British and international buyers are expected throughout 2007. In the lettings of luxury homes tenants are demanding the very best and prepared to pay top prices.

SALES

Despite mixed sentiment at the start of the year prices have continued to climb with the £2,000 per square foot mark breached for both flats and houses in Mayfair and St James's.

The demand for houses has been unprecedented against a background of supply shortage, with many properties being snapped up within days of reaching the market and countless instances of best bid tenders between British and International buyers.

Increased interest rates have yet to bite and Goldenberg Real Estate envisage a vigorous start to 2007 with further price growth.

LETTINGS

After a sluggish 2 or 3 years the market has seen a healthy turnaround, fuelled by renewed appetite from overseas companies, particularly in the financial and energy sectors.

Goldenberg Real Estate's Residential Manager Simone Green says "Tenants are more demanding than ever and best rents will only be achieved in return for the highest standard of interiors Where there is a selection of homes to choose from, the one offering a stylish interior designed lifestyle will be snapped up, while the others will linger."

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Henry Goldenberg
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