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Marc Da Silva reports, on behalf of Sandfords, that there is a growing shortage of property for sale in London, including property for sale in Marylebone, while many more landlords are now opting for a London property management service.

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Marc Da Silva

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0207224 4994

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www.sandfords.com/

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The London property market continues to defy the recession with prices in the heart of the capital still rising at a steady pace, due to a lack of property for sale in London in relation to a high level of demand, buoyed by a growing volume of international homebuyers, including property investors, according to SandfordsCentral London estate agents.

Investors are capitalising on favourable market conditions, with rents rising across much of the capital, pushed higher by strong tenant demand, partly because a number of would-be purchasers are struggling to raise the mortgage finance required to buy property, forcing them to rent instead.

With many investors adding to their property portfolios, more landlords are opting to hire the services of London property managementagents to help generate hands-off investments which, in many cases, offer healthy returns, with some landlords achieving rental yields of well over five per cent per annum.

Aside from good property investment prospects, the majority of foreign buyers purchasing properties in London do so because they perceive the market to be a safe place to preserve wealth as they face political, economic and financial upheaval in their home markets.

Sandfords has seen significant increases in the numbers of Spanish, French and Greeks actively looking to buy property in prime London in recent months, on the back of greater political and economic turmoil across the eurozone.

Setagainst low stock levels,Sandfordsanticipate that property prices in the prime areas of London will appreciate further.

"The property market in Central London is continuing to motor away from the rest of the UK," said Sandfords Director Andrew Ellinas.

Demand from domestic and international homebuyers is particularly high for homes in and around Marylebone, reflected by the lack of property for sale in Marylebone. A worsening of the eurozone crisis has triggered increased demand from international buyers on the basis that London represents a safe haven for investors.

Ellinas added: "At Sandfords, we believe the crisis in the single currency will not result in the meltdown that some critics predict, but one thing is sure – property in the Sandfords zone of Marylebone will only appreciate."

For more information please visit www.sandfords.com or contact the team on 0207224 4994.

Notes to editors:Sandfords was founded in 1985 by Andrew Ellinas to serve the Highgate area, but has since expanded to other areas in the city and has gained a reputation as one of the leading estate agents in Central London.