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The Borough of Greenwich in London: an Overview of What The Area is Famous for

The English metropolis is divided into many districts or, as they correctly say in London, boroughs. A borough is a territorial administrative division of the capital of Great Britain. 32 boroughs form the Greater London region, which, however, does not include the City. It is considered a separate ceremonial county. 12 boroughs are inner London, another 20 are outer London. Another four districts have the status of royal boroughs (administrative districts).

Prestigious areas of London

The capital of England has a dozen districts in which it is considered prestigious to live. Expensive luxury housing is being built there; a mortgage here is beyond the means of an ordinary resident of the capital. Politicians, celebrities and businessmen prefer to live here. Tourists also love to visit these areas due to the large number of attractions.

But there are also prestigious areas where houses are affordable for the average person; you just need to know which agency to contact in time.

You’ve probably been looking for new developments in South-West London if you want good, comfortable housing. Not a bad choice of part of the city. But according to numerous advice from real estate agents, it is worth stopping your search in Greenwich Borough. It is here that the standard of living is quite high, and real estate can be found both at exorbitant prices and at reasonable prices.

Why is it called so?

The area, located in the south-eastern part of London, was named Grinwich for a reason – it is here that the prime meridian line passes, along which the whole world keeps track of time zones and, accordingly, time. Greenwich is located on the southern bank of the Thames, where the famous metropolitan business center Canary Wharf is actively developing opposite.

Transport

From Greenwich it is very easy to get to the city center – the journey by city train takes only a quarter of an hour. This area of London has very convenient transport links and is very convenient for everyday life. Greenwich has good medical facilities, a considerable number of public and private schools, and has its own supermarkets, shops, restaurants and cafes. Life in Greenwich is vibrant all day long.

Types of houses there

New homes in Greenwich area are represented by a huge number of offers in a variety of price categories. Here you can become the owner of a low-rise Victorian-style house, a large old mansion, a modern apartment or a small cottage.

Complexes in the area

Greenwich is home to the famous University of Greenwich, which has the reputation of one of the most prestigious universities in England. The Greenwich market offers a wide range of antiques, which are sought after by art lovers and collectors from all over the world. The area is also home to the O2 Arena, a sports complex and the largest concert hall in London, stunning with its architecture and scale. Greenwich can become a comfortable place for young people or couples with children to live.

What is More Profitable to Buy a New Building or a Secondary Property in Dubai?

Which – primary or secondary – real estate to choose in Dubai, so as not to overpay and live comfortably in this apartment? There is an opinion of experts on this matter.

The Dubai real estate market is so young that secondary real estate is just emerging on it. In terms of price and many other parameters, it is more profitable than new buildings.

Why?

Artificial intelligence, which analyses the Dubai real estate market constantly, “sees” the movement of the cost of apartments from purchase to sale. AI “noticed” several interesting trends in the Dubai market:

1. This is the market of realtors. There is still little automation here, everything is solved by specific agents who work for a commission from transactions.
2. In connection with point 1, you will think that only new buildings with great prospects are sold in Dubai. But this is not quite true. Realtors show what they need to sell.
3. There is always a stir around the start of sales with the help of aggressive marketing, advertising purchases.
4. Primary real estate purchased at the start of sales is an absolutely illiquid commodity that falls in price over the next couple of years while construction is underway.
5. Your capital invested in the primary “grows” and increases its value only by the time the house is put into operation.

Experts conclude from this that primary real estate at the start of sales is an illiquid asset with a small increase, the profit from which will be formed only due to the overall growth of the market or the active growth of demand in the area if you want to invest in real estate.

But not all primary real estate is the same, of course, so you should not immediately give up viewing new buildings. There are options in only developing areas that were not implemented at the start of sales. Such an apartment will cost less than analogues and will be a really good investment. But in order to find this option, you need to monitor the market.

Secondary real estate

As a rule, in central areas, secondary real estate is well–maintained and relatively new real estate, often with good repair. Developers are not engaged in the sale of secondary housing, and realtors do not have a serious motivation to invest in its advertising, so secondary housing is cheaper. Even unfinished secondary housing is cheaper, that is, any option of assignment here is beneficial only to the buyer.

It is the secondary real estate that will grow more during the rise of the market, and it will be a good option for investment.

Therefore, if you want to move with your family to another apartment, then you can safely sell the apartment, since secondary real estate is also in high demand.

If you don’t want to rent an apartment, then this is a great investment in your family life. After all, Dubai has a developed infrastructure and a high standard of living, so it will be comfortable for you and your family to live here.