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Record number of skyscrapers rising in London

Record number of skyscrapers rising in London

Record number of skyscrapers rising in London

While Dubai or New York City won’t have serious competition from London any time soon, the British capital is becoming a place where more people live, work and play in the sky.

The annual report by New London Architecture, a local architecture forum and gallery, recorded the number of skyscrapers expected to open in 2019. 76 buildings are expected to be complete this year, which is a new record for the city.

The new towers are spread throughout London and 90% of them will have residences, though not exclusively.

121 skyscrapers are currently being built, and more are likely to come as the city grapples with a housing shortage. In fact, from the pre-planning stage to completion, there are 541 towers that could potentially be added to the city’s skyline.

The bulk of the new towers are being built in the east London borough of Tower Hamlets, home of Canary Wharf and close to the Royal Docks. There are 21 towers that are currently rising in this area.

In some boroughs of London like Camden, Hounslow and Barnet, the very first skyscrapers are being built, as potential development sites in central London are quickly redeveloped. Tall towers are currently being built in 22 out of the 33 boroughs (including the City of London, which is technically not a borough).

With the current approved projects, it means that 110,000 residential properties are being added to the housing market by the end of the year. This is almost double the amount of housing being targeted to built in London by Mayor Sadiq Khan.

While areas like Battersea Power Station won’t have any tall skyscrapers, the area just to the east of it closer to Vauxhall Station, like Nine Elms and Embassy Gardens are currently flourishing with tall, modern buildings.

Some say that this current wave of development is a blight and very “un-London,” but new residential towers can offer a variety of choice for potential buyers, whether they’re looking for an investment unit or a home for themselves and their family.

If you’re looking to invest in London’s in-demand housing market, our award-winning sales team at Copperstones can assist you with all your questions and with buying and marketing property. To learn more, please contact us.

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