Chiswick's Cafe Culture Attracting Foreign Buyers
Europeans like the continental feel of the High Road
Buyers from Western Europe and the Nordic countries are increasingly coming to Chiswick to sample the cafe culture of the High Road and the quick links to central London, according to one local estate agent.
Christopher Bramwell, head of Chiswick's branch of Savills says while over 80% of buyers are from the UK, they were being increasingly contacted by foreigners wanting to settle in Chiswick.
Over 8% of buyers come from European countries including Italy, France and Spain, many of them drawn to the proximity of the international School in Gunnersbury.
The type of townhouse development favoured by foreign buyers
There's also a growth of interest from the Nordic countries, he said. North Americans make about 3% of the sales in the area, as do buyers from Eastern Europe .
They are closely followed with a 2% of sales going to people from Pacific Asia, while North Africa, the Middle East and the south Asian sub-continent come bottom of the table at 1%.
Christopher comments: "Many of these foreign buyers are drawn to the area because of the International School in Gunnersbury. European buyers are also drawn to the pavement cafe culture of Chiswick along with the quick links to Central London whilst still being near to Heathrow.
"Most of the people looking to live here are coming from Notting Hill and other more central locations, as these areas become increasingly popular with foreign buyers, we are seeing a trickle effect in these people now coming out West to Chiswick."
Foreign buyers, particularly from Europe are mostly interested in modern houses. When new build homes come to the market in Chiswick, interest is significantly skewed with more foreign buyers than those from the UK. An example of a property which has generated a lot of interest from Europeans and foreign nationals is Riverside Lodge (pictured above) a five-storey townhouse on the river in Chiswick, which is on the market for £4.2 million with Savills.
UK buyers prefer to purchase Victorian or Edwardian homes and are comfortable with period houses. However, many foreigners are unused to homes of such vintage and prefer a modern townhouse, often in a gated community with a car-park space and garage. They also favour contemporary decor, modern kitchens and en-suite bathrooms.
March 27, 2013