TYPES OF PROPERTY

From loft style apartments to mansions, London has a huge choice of property available.

Whilst there are a few modern developments dotted around the city most of the residential property in central London was built during the Georgian, Regency and Victorian periods from 1715 to 1900.

These developments include the Mayfair and Belgravia estates built by Richard Grosvenor which are still known as the Grosvenor estates.

Apartments, known as flats, are usually sold as leasehold. In this case the land ownership rights remain with the lessor and the lessee pays an annual lease premium. The lease is usually renewed before the end of the term. Whilst some leases in Belgravia can be for a short time such as 10-12 years most leases are for 99 years and longer.

Houses are usually owned as freehold. In this case the land on which the property is built is also owned by the buyer.

Much of the housing built outside central London dates from the 1930s which was a period of building expansion. Whilst there is new construction the English prefer traditional style houses.

 
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