A RECENT report by a leading property company shows that 35 per cent of the new homes sold in central London are to investor buyers rather than to owner-occupiers - an annual increase of six per cent.

According to Countryside Properties, second homes in London are becoming more popular and properties at its Queen Charlotte’s Place development, in West Malling, near Maidstone, are fast becoming “cash-back” vehicles to replace pensions.

Situated within King’s Hill villages, the London-style townhouses at Queen Charlotte’s Place can be bought for capital gain rather than for rental growth, with buyers able to take advantage of the latest “cash-back” banking agreements.

This allows owners to get cash back by selling their homes to their banks in their later years for a return of part of the asset worth of the property, while being able to live in them for the remainder of their lives.

The Prime Central London Capital Value Index calculates that residential property prices increased by around eight per cent in the year to end March, 2002.

John Taylor, sales manager of Countryside Properties’ residential division, said: “Properties have become the new pension funds. This has been fuelled by the crisis in the pension market, which has influenced buyers to turn to property investment to create a nest egg.

“If a purchaser had invested £20,000 in a pension plan in 1996, it would now be worth £25,000. In contrast, if they had purchased an apartment for £30,000, it could now sell for £75,000.”

Available to buy off-plan, the two and three bedroom apartments and three, four and five-bedroom townhouses at Queen Charlotte’s Place feature a wide range of property styles to suit the individual needs and tastes of the discerning buyer, making flexible family homes.

Prices start from £130,000 for the apartments and from £305,000 for the houses.

Contact the marketing suite on 01732 875182, or email queencharlottesplace@cpplc.com or via www.countryside-properties.com