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Canary Wharf is home to some of Europe’s tallest residential buildings. These sky-scrapping residential buildings give Canary Wharf its unique character, with impressive modern architecture and world-class amenities. Many new build properties in this area have private green spaces, recreation areas, landscaped roof terraces, and leisure facilities. Even with new developments, Canary Wharf still has excellent green spaces on and above ground level and relaxing riverside areas.
In a country facing a housing crisis, Canary Wharf’s new developments present a unique opportunity for investors and residents. The developments in Canary Wharf are some of the most competitive, bringing modern architecture without entirely wiping out all signs of the past. These new developments and remarkable planning will provide proper housing for the residents of Canary Wharf. A majority of the Canary Wharf population lives in rental properties, so there are exciting opportunities for Hong Kong investors in Canary Wharf.
Property Pricing
The Canary Wharf area has seen heavy investment in properties built to rent. New towers are being built where prices start at £559,000. For new build flats, rents range from £2,383 per month for a one-bedroom and £3,335 for a two-bedroom flat.
Renters and investors are interested in property in the Canary Wharf area because of the close proximity to the Crossrail and other reliable modes of transport, robust modern developments, close proximity to London, varied property types, security, good schools, green spaces, amazing views, and exciting recreation facilities. As such, they are willing to pay the premium price to live or own property in Canary wharf.
Properties in Canary Wharf boast some of the highest average rental yields seeing a growth of up to 0.7% in the last year. The current rental yield is ranked high at 4.5%, owing to the heightened demand for rental houses and the increased property value. The balance between the initial cost and the rental income will ensure good returns on your investment.
Why Canary Wharf is suitable for Hong Kong Investors
1. Transport
The Crossrail provides reliable links from Canary Wharf to other major cities in the UK. Residents are attracted to properties close to Crossrail stations due to the convenience and accessibility that Crossrail provides. There are also different reliable modes of transport in Canary Wharf, such as buses, boats, driverless trains, planes, and the tube. Transport links are important for the working population that commutes to and from Canary wharf.
2. Good Schools
Based on Ofsted results, Canary Wharf is a fantastic area for schools. There are prestigious schools in the Canary Wharf area that will guarantee safe and world-class education for children of all ages.
3. Recreational areas
Whether you prefer outdoor or indoor activities, there is something for everyone in Canary Wharf. There are plenty of opportunities to relax and have fun, from outdoor art trails, food and beverage sports, picnic areas, music festivals and events, and self-driving boats for adult and family fun days.
4. Safety
Canary wharf has crime rates lower than the majority of London boroughs. Security personnel (private and government) are available with a remarkable response rate. Residents in Canary Wharf can rest assured that their homes are always safe.
Canary Wharf is continually undergoing development. New homes are being built, older properties are being renovated, and you will get the most beautiful unrestricted view from any location.
