At Winkworth, we are thrilled to see London reclaim its position as Europe’ most attractive city for residential investors. This recognition highlights London’s enduring appeal as a leading global hub for real estate, bolstered by its strong fundamentals and dynamic living environment.
London Tops the 2024 Index
London has climbed back to the top spot, surpassing Paris, which led the rankings in 2022. Zurich rounds out the top three, with the Swiss city moving up from fourth to third place. Other notable shifts include Stockholm, which rose from ninth to seventh, and Berlin, which dropped from third to fourth.
Top 10 Cities in Patrizia’s European Living Cities Index 2024:
London (up from #2 in 2022)
Paris (down from #1 in 2022)
Zurich (up from #4 in 2022)
Berlin (down from #3 in 2022)
Munich (no change)
Vienna (no change)
Stockholm (up from #9 in 2022)
Copenhagen (no change)
Madrid (down from #7 in 2022)
Helsinki (no change)
Why London Stands Out
London’s return to the top spot is driven by its exceptional performance in key sub-categories analysed by Patrizia. The city ranked first in Market Fundamentals, which evaluates demographic data such as population growth, workforce size, and household numbers. This underscores London’s strong housing demand and its appeal as a vibrant, economically dynamic city. While Paris excelled in the Innovation category, taking first place for factors like student population and patent applications, London’s robust fundamentals kept it ahead overall. The UK capital also performed strongly in Connectivity, benefiting from its world-class transport infrastructure and global accessibility.
Key Sub-Category Leaders in 2024:
Location Quality: Zurich
Connectivity: Vienna
Market Fundamentals: London
Innovation: Paris
What This Means for Investors
This ranking reaffirms London’s position as a prime destination for residential investment, with strong market fundamentals and a dynamic environment that attracts domestic and international buyers alike. The city’s unparalleled combination of economic opportunity, cultural appeal, and infrastructure ensures its continued prominence in Europe’s real estate landscape.
Looking Ahead
As London leads the pack in 2024, the city remains an attractive proposition for investors seeking long-term value in a resilient and competitive market. At Winkworth, our expertise in prime and emerging London neighbourhoods ensures we can guide investors to make the most of these opportunities. Whether you’re considering buying, selling, or investing, we’re here to help you navigate London’s ever-evolving property market.
At Winkworth, we’ve seen strong demand in London’s rental market throughout 2024, with Shoreditch, Canary Wharf, and Ealing emerging as the city’s best-performing rental locations. These areas recorded the highest and most consistent rental price growth, reflecting both domestic and international demand.
We are currently seeing a shift in the Prime London property market, with a significant increase in sales supply while rental activity slows. The latest LonRes data highlights a notable rise in new sales listings, alongside price reductions on established properties, indicating a dynamic and evolving landscape for buyers and sellers alike.
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