Primarily noted for being one of the wealthiest districts in the world Belgravia lies south-west of Buckingham Palace with Knightsbridge on the north side and Buckingham Palace Road on the south side and Sloane Street to the west . It is known as the Grosvenor Estate and is owned by the Duke of Westminster.
Type of property
Belgravia is characterised by the grand terrace of houses that over look Eaton Square and Belgravia Square. They are white stucco front properties with four or five storeys many of which have been converted into desirable maisonettes and apartments some remain as they were first built circa 1827 as complete houses . There are several lateral conversions which run across one or two buildings providing the much sort after space on one level. Both Eaton Place and Eaton Square back onto pretty mews properties some of which are still linked to the main house providing very substantial properties with parking.
Rental property in Belgravia continues to perform exceptionally well in the area and the Belgravia is weathering the economic storm. This is prime property area and will always be sort after by the rich and famous so rental values will continue to perform well.
Sales values in Belgravia, like those prime areas surrounding, have been driven by a lack of stock. Selling in Belgravia is therefore easier than buying in Belgravia. Prices have risen steadily over the recent years and this upward trend looks set to continue.
Type of Tenants renting in Belgravia
The Belgravia area is well suited to families both British and foreign are keen to live here for the excellent independent schools who have the means to rent substantial houses and apartments. The typical profile is someone who is working within the financial, legal or media sectors of the city who wants to enjoy this prestigious area of London.
Type of Landlords in Belgravia
Foreign investment purchasers are still looking for rental investment, viewing London as a safe haven from the current political and economic turmoil of the world. Over the last two years rents have risen between 8% and 10%. The overall demand for rented property is still very high in Belgravia and it will, in our opinion, remain a favourable market for landlords who wish to buy.
Types of buyers and sellers in Belgravia
Belgravia and Knightsbridge attract a similar type of buyer and seller. The properties for sale in Belgravia tend to be more of a mix than the flats that form the majority in Knightsbridge. This means that Belgravia attracts families and these, in the main, are from overseas; there are a good deal of Russian and former Soviet States buyers and from farther a field in Europe.
Council Tax Rates for City of Westminster
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For property sales and letting in Belgravia, get in touch with Estate Agent Marler and Marler today.