The property market in the UK is going through a dilemma. Property prices in London are being bought up by cashed-up foreign investors and it is pricing locals out of the market.
The starting prices for 1-bedroom properties within London start from £270,000 and for a 3-bedroom property, the price could start from £600,000. Given that the minimum deposit most people would need would be around the 20% mark, they would need between £54,000-120,000 plus additional budget for legal and real estate fees. Over the course of a 30-year mortgage, Londoners would be scraping their pennies together for a sun-kissed holiday, as well as hoping that they will profit from the equity gain in their property.