Premium Property Costs in South Kensington

South Kensington is well known as being one of the most exclusive addresses in the world. Affluent professionals and A Listers aspire to call it home. A 3 bedroom penthouse previously owned by Kylie Minogue was previously on the market for £6.5million. Foxtons state that the average price of a South Kensington 2 bedroom flat is £1,546,735 whilst a 4 bedroom house would set you back around £3,012,500. This compares to £250,000 for the UK property average.

However, Dawson & Associates has seen time after time that even if you are interested in paying these premiums, locating a property in this densely populated area is easier said than done.  Perhaps that is why an apparently “uninhabitable” South Kensington flat recently sold for more than £600,000. The telegraph reports that this property, with only 30 years left on the lease has been deemed worthy of such a high asking price by an anonymous buyer (despite the fact that it may shake when the underground passes by).

James Wardle, director of the selling real estate agency, Hamptons International, said: "Stanhope Gardens is one of South Kensington's most sought-after garden squares, with apartments selling for well over the £1 million mark.” Due to the extreme high demand for properties in this area, it seems that there is still potential to make a profit on the purchase.

But any potential property investors should beware. These development projects often prove risky and a successful outcome solely depends upon finding the right property in the first instance. Even in areas such as South Kensington, good profits cannot be obtained if the property itself is not structurally sound. With over 40 years of experience, Dawson Surveyors can evaluate any residential or commercial real estate and provide a true current and future value. Do not risk making an investment without professional, specialized advice from a chartered surveyor.

Afree instant property survey quote can be received here.