Broker digs through sold price data for the answer
From Canada Water to Jamaica Road, there’s a plethora of different countries cemented into the fabric of the capital’s bricks and mortar landscape.
Mortgage broker Henry Dannell crunched sold price data for homes sold in the last year across each of them to reveal which boasted the highest property values.
Homes on roads whose names contain the nation of ‘Luxembourg’ sold for an average of £3.35 million in 2021, making it the most valuable foreign nation name in London.
Road names containing ‘Portugal’ commanded an average house price of £2.74 million over the last year, while London’s homebuyers forked out an average of £1.3 million on roads named after ‘Spain’.
Houses on roads named after Cyprus sold for an average of £899,000, while names containing ‘Russia’ went for an average price of £631,750.
A London road name containing ‘Sweden’ commanded an average house price of £590,000 over the last year, while purchasing on a road named after the Netherlands will have typically cost the buyer £555,000.
‘Singapore’ (£505,000), ‘Finland’ (£475,000), ‘France’ and ‘Japan’ (£450,000) also ranked within the top 10, while at the opposite end of the table, ‘Norway’ (£269,500), ‘Australia’ (£295,000), and ‘Cuba’ (£326,750) presented the most affordable homes on streets named after foreign nations.
Geoff Garrett, director of Henry Dannell, said the capital’s property market is probably one of the most reliant on foreign buyer demand.
“Fitting then, that there should be so many roads named after so many different foreign nations all over the London market. Of course, depending on which you might opt for, the cost of buying is dramatically different,” Garrett said.
“Who would have thought that Luxembourg would command by far the highest average sold price when it comes to London property?”
