Royal Docks’ home prices may outpace London, rest of the UK, offering BN(O) emigrants option for investments and growth
- Home prices in the Royal Docks, one of London’s regeneration areas, may jump by 30 per cent over the next five years through 2026, JLL said
- That growth rate outperforms London’s 25 per cent estimated growth and the UK’s 20.5 per cent increase, JLL said
A riverside development in East London could become a potential investment and residential option for Hongkongers, as property prices in the area may outstrip the rest of the British capital in the coming years, according to property consultancy JLL.
Home prices in the Royal Docks, one of London’s regeneration areas, may jump by 30 per cent over the next five years through 2026, outperforming London’s 25 per cent estimated growth and the UK’s 20.5 per cent increase.
The area’s five-year annual average rental growth is 3.2 per cent for a 17.1 per cent compounded growth rate between 2022 and 2026, said JLL, the sole agent for the Riverscape development on the River Thames, developed by the UK’s Ballymore Group and Singapore’s Oxley Holdings.
“Many Hong Kong investors are looking to diversify their wealth and are looking into the potential of properties that they may rent out now and wait for capital appreciation,” said JLL’s head of international residential property division Mandy Wong. “New developments offer a community atmosphere, and are particularly attractive to the younger generation because the property price is relatively lower than the central location of London.”
Hong Kong is the first city outside the United Kingdom where the project was launched. A third of the development’s first phase, or 83 units out of 249 apartments, offering between one and three bedrooms, were allocated to Hongkongers.