Penzance Property Market and Real Estate Guide
(Penzance, Cornwall, England, UK)
Situated just 15 km / 9 miles from Land's End, Penzance is a major Cornish coastal town that nestles on the sweeping Mount's Bay. The railway from London
terminates here, while its airport is restricted to helicopter flights to the beautiful Scilly Islands. Its easy access makes this town popular with families and couples.
Mount's Bay is ideal for inshore sailing and has many family-friendly sandy beaches. Its most famous landmark is the delightful island castle of St. Michael's Mount, in the Marazion area. Also of note are the busy fishing ports of Newlyn and Mousehole, which are to be found just to the west. Houses for sale or rent with sea views are predictably higher in price and easier to sell or rent.
Perennially popular with holiday makers, Penzance retains a large, permanent residential population and prices this far west are generally lower than north coast property hotspots such as Rock or Newquay
. Most visitors stay in a mix of bed and breakfasts and hotels, along with some private rentals.
Renting Serviced Apartments
Serviced apartments in Penzance are fairly thin on the ground, with an Internet property search revealing a preponderance of cottages and houses to rent, generally targeting the holiday market. Most Penzance apartments located in the centre of town are aimed at the local, longer-term rental market, with fewer luxury features and cheaper rentals than apartments in other more-fashionable Cornish resorts.
Long-term renters can expect to pay around a quarter of what holiday makers pay for a cottage with sea views. Furnishings are often slightly outdated, although there are a few properties with more modern interiors that are mainly housed in newly built apartments rather than old buildings.
Buying Apartments and Houses
There are no special costs attached to buying property in Penzance, but do bear in mind that buyers pay more for properties with sea views and private parking, since much of the parking in Penzance is heavily restricted. EU citizens are entitled to buy and rent property throughout the UK, but non-EU citizens should check their status beforehand.
The purchaser's solicitor / conveyancer will carry out the property searches as well as complete a valuation. If a loan is needed then a survey will also take place. There is stamp duty that starts at one percent of the value after the price reaches and surpasses £125,000.
Estate agent fees are paid by the vendors and they reach around 1.5 to 2.5 percent of the property price and are only payable on sale. The majority of lenders also require borrowers to provide approximately ten percent of the property price.
Real Estate Agents
There are a number of estate agents covering the West Cornwall area and they often advertise in the local press. Many also choose to put up adverts for their rentals and sales in office windows. However, many intending purchasers now use property search websites although approaching agents directly can sometimes be an advantage.
Check out the following Penzance real estate agents:
PA Wilkins and Company
Address: 1 Market Square, St. Just, Penzance, Cornwall, TR19 7HF, England, UK
Tel: +44 01736 787071
A team of estate agents who specialise in property in the Penzance area.
Address: 71 Causewayhead, Penzance, Cornwall, TR18 2SR, England, UK
Tel: +44 01736 364260
Millers Countrywide boast a wide range of properties throughout Cornwall.
Address: 7 The Greenmarket, Penzance, Cornwall, TR18 2SG, England, UK
Tel: +44 01736 3332277
Email: sales@ marshalls-estate-agents.co.uk
Specialises in properties in the Penzance area that are both for rent and sale.