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Destination North London for Singapore property investors

05 Nov 2018
London, one of the top real estate hubs in the world, continues to attract investors from across the globe for investments into residential and commercial property sectors. While 2018 is set to witness a record level of investment into London’s commercial property, the residential market is stabilising post Brexit. With a Brexit deal expected before March 2019, house price growth is likely to improve significantly over 2017.
A report from JLL UK has predicted 14.8% house price growth and 14.2% rental growth in Greater London by 2023. The house price growth forecast for Prime Central London is 15.3% while the rental growth forecast is 10.4% by 2023. These projections make London a good option for property investments in the long-term.
The strong fundamentals of the London housing market and consistent growth in capital gains and rental income continues to attract international home buyers and buy-to-let investors. Incidentally, the London rental market is expanding with an impressive 4.7% growth in rents in 2018 in view of demand for homes from working professionals, students, business community, international travelers and short-stay visitors.
Singapore investors are among the top 10 buyers of London property, according to UK’s Land Registry. Many of them invest in residential property for a second home (London) or for rental income (buy-to-let property).
There are many residential property investment options in London, but one should carefully evaluate options before buying a home in Europe’s fintech capital.
Promising North London
Many areas in North London are undergoing rapid generation with developers coming up with interesting projects. The Haringey Council last year announced plans to replace Wood Green existing town centre with a £3.5bn development including homes and shopping centres. Wood Green has been identified as an area of growth over the next five-ten years in London.
North London is an attractive proposition for property investors in view of early capital growth through regeneration of the area, and with plans to deliver almost 8,000 new homes and 4,000 new jobs in Wood Green, the area has huge potential.
Hornsey Park Place, Clarendon
Clarendon, first phase of Hornsey Park Place, a major regeneration scheme by St William, part of the Berkeley Group, is set to become a new city village in North London. Sitting in between Hornsey and Wood Green and the expansive Alexandra Park. Clarendon will deliver 1,714 homes all with balconies, pocket parks, five acres of public green space and private courtyards.
The scheme will also introduce over 100,000 sq ft of commercial space, creating a new London destination. Clarendon is a 12-acre brownfield site located within the Haringey Heartlands Opportunity Area, which is now being transformed into a vibrant and creative community for new residents and workers alike.
Residents’ facilities include concierge, gymnasium and residents’ lounge. A swimming pool, spa and sauna will be available in the latter phases. A vibrant cultural quarter, which will include a central boulevard to help improve connectivity between the surrounding neighbourhoods of Hornsey, Wood Green and Alexandra Park, benefitting from the ease of access to a variety of transport connections, is also planned.
For first-time buyers and buy-to-let investors, Clarendon offers a profitable opportunity for capital growth of their assets and increase in rental income. Here’s why…
Excellent Transport & Strong Connectivity
Hornsey Park Place is located between four Zone 3 stations – two Underground, Wood Green and Turnpike Lane and two Overground, Hornsey and Alexandra Palace, providing strong connectivity in to and around central London. All four stations are within a short walk of Hornsey Park Place, between 600 – 700 metres, which will allow residents swift access into Kings Cross in under 20 minutes.
Easy access to London’s major work hubs:
  • •  Kings Cross
  • •  Old Street
  • •  Islington
  • •  Leicester Square
  • •  Farringdon
All 20 minutes!
World-class colleges and universities are easily accessible from Hornsey Park Place, offering the best in art, science and humanities education. The University College London and London School of Economics are less than 30 minutes away.
Great neigbourhood
Wood Green High Road boasts of a range of shops, restaurants, convenience stores, cafés and cinemas. Green Lanes, to the South East of the site, offers a selection of family-run restaurants, while the railway underpass on Coburg Road leads to the leafy surroundings of iconic Alexandra Palace – which features 196-acres of parkland, a boating lake and a variety of sporting activities.
The demand for properties is picking pace in this part of London where capital gains and rental growth are consistent.
As against an average London rental return of 3.7%, the rental returns projected for Clarendon are between 4%-6%.
But why so?
Alex Lazarov, Lettings Director, Strawberry Star, says,
“There is a strong demand for London rental properties, which have excellent transport links to major work hubs and educational institutions. Clarendon falls into such category. Besides, it offers the best of London lifestyle. The rental market is gradually expanding in London – 50% of Londoners are now renting and it is expected to reach 60% by 2025 owing to Generation Rent and other factors. More professionals are coming to London from the US, Australia, South America & Asia. There is also a continued housing shortage, as only 1/3rd of the total required is being built.”
Rise of Generation Rent
Owing to their inability to step on to the property ladder, young adults are living in rented accommodation for decades in London. This ‘Generation Rent’ group, aged between 20-39 years, will continue to drive the demand for rental property in London because of shortage of housing supply and higher deposits.
For Singapore, investors, this means a 2-bedroom rental property in Clarendon could command a premium rental price and capital appreciation in the next few years.
Mrs. Doris Tan, Regional Director, Strawberry Star, says, “Clarendon is a good investment opportunity for first time buyers, as Haringey Heartlands is undergoing a major regeneration. Besides, Wood Green, located adjacent to Clarendon, is also undergoing massive regeneration. Similar to projects, such as, Woodberry Park at Manor House Station, the investments in North London enjoy good capital appreciation over a period of 5 years. It has already been identified as an area of growth over the next five-ten years. The development is well-connected to rest of London This presents an interesting option for Singapore investors to buy homes to take advantage of the early capital growth.”

Article written by Strawberry Star