As one of the most iconic locations in London, houses and apartments for sale in Covent Garden offer exciting property investment prospects with global recognition, strong house price growth projections and higher yields than most areas within Prime Central London.
While being known as a fantastic tourist destination, Covent Garden also has strong appeal as a place to live. The neighbourhood is a major shopping, culture and entertainment district in London’s West End.
The world-famous and historic Covent Garden Market is one of the oldest markets in London within a sprawling traffic-free piazza and encompassing nine streets. The Apple Market and Jubilee Market offer a variety of fairs of arts and crafts, fashion and jewellery, while the New Covent Garden Market offers fresh food and flowers.
On top of that, the new Floral Court, which is a courtyard connecting Floral Street to King Street, is a tranquil urban garden in the heart of London. Victoria Embankment Gardens is also a beautiful place to stroll along the River Thames. This provides residents the best of all worlds with so much right on their doorstep.
Covent Garden has a mix of popular high street brands and top designer shops, including Polo Ralph Lauren and Jo Malone. The area has also been synonymous with theatre and performance, being home to the Royal Opera House, Somerset House and theatres with West End musicals, comedies and classic plays.
Having been transformed into a foodie destination and nightlife hotspot, Covent Garden has a wide-ranging selection of eateries, including renowned five-star restaurants such as The Petersham, Frenchie and The Oystermen.
Additionally, the area features some of London’s best bars and clubs from specialist cocktail bars and microbreweries to private member clubs. The Savoy’s American Bar in particular is one of the most prestigious and sought-after bars in the capital.
In the heart of Central London, a prime location for houses and apartments for sale is Covent Garden. It straddles the Borough of Camden and City of Westminster.
Transport options in Covent Garden are second to none. Here you’re never more than a 10-minute walk from transport links connecting you to the wider London area. Many young professionals find the area especially appealing as these strong connections make commuting easy within the capital.
Covent Garden is also conveniently located close to some of the UK’s best universities, including King’s College London, University College London, the London School of Economics and Central St Martins. This brings a growing number of UK and international students to the area, who often are looking to rent.
While it’s long been known as a top culture and entertainment district, Covent Garden is increasingly becoming a popular residential area too. With everything located right on the doorstep here, many people like the hustle and bustle and vibrancy found in the area.
Young singles and couples are often the most interested in living in Covent Garden – as opposed to families. This makes apartments and flats a popular choice for property investments.
While many young people can’t afford to buy a property in Covent Garden, this creates strong demand in the rental market. Properties for sale in Covent Gareden are in extremely high demand among buyers and investors alike, particularly overseas investors.
Within this exciting part of London, there are a range of mansion blocks, period conversions and now an increasing number of luxury new-build developments often with top-notch facilities. There is interesting architecture among Floral Street, Neal’s Yard and Seven Dials, which are all particularly appealing parts of Covent Garden.
The average house price in Covent Garden hit £1,195,554 in December 2021, according to Zoopla. In the past 12 months, the area has seen the average residential property price increase by 8.85%. This is no surprise as properties in Covent Garden have seen growing popularity in recent years.
Property investors in Covent Garden are also earning a 3.5% rental yield on average, according to research by Chestertons. This is a higher average rental yield than most areas across Prime Central London.
With Covent Garden’s place as a top entertainment and culture hotspot, the area is expected to continue seeing strong rental demand and house price growth. And with the area’s global appeal, interest from overseas investors is only expected to increase.
Chestertons Global New Homes has access to some of the most exclusive houses and apartments for sale in Covent Garden and the wider London area.
Speak to one of our London property experts today to find your ideal investment.