Property Turner has recently been instructed to purchase a number of investment properties for an overseas client in Folkestone.
The market in Folkestone for prime apartments in the right part of town seems to buck the trend of markets elsewhere in the county. At every viewing, there were several other parties viewing at the same time – when did that last happen? One of the local agents reported putting 41 properties on the market in September and agreeing sales on 21 of those within the same month.
Well, the basic economic fundamentals are there.
Firstly, transport links. Folkestone has two stations in the town centre where you can board the high-speed train that will take you into London in just 50 minutes. So, with a 10-minute walk from home and no parking costs, you really can be in London within an hour from your front door.
Secondly, affordability. Properties are affordable. A decent one bed flat still costs about £120,000 – £150,000 and two beds £170,000 – £220,000 and even lovely three bedroomed flats are well under £300,000.
There is also significant new investment planned for near the harbour and the vibe is just getting better. The key to buying in Folkestone is to choose the area very carefully.