Competition between developers
Over the last 20 years developments in Canary Wharf have evolved just as the area has...
From developments with no facilities or concierge to developments with a concierge, gym, swimming pool, spa, cinema, restaurant, bar and roof terrace; developments are becoming increasibly competitive and offering residents the latest facilities and amenitites.
With Buy-To-Let (BTL) investors and home owners wanting more for their money and looking to buy to be in the next prestigious development, developers are competing with each other to make their next project better than their last, and the competition. This can often boil down to the specification of the flats, designer brands and interiors and all-encompassing facilities which mean the tenants and homeowners have everything they could ever want without stepping out of the building.
Marry this with all the other opportunities within Canary Wharf and close by, such as the shopping, restaurants, bars, gyms, transport links, London City airport, and the high demand for quality flats for Canary Wharf workers, Canary Wharf is a prime property bubble and shows no sign of slowing down. With the impending Crossrail due to open in 2018, this will only help to fuel prices and bring more people into the area. To note, Canary wharf to Heathrow will take 39 mins once Crossrail opens.