Find out what’s happening in the property investment arena both in the UK and internationally
They may have left the UK but British expats aren’t quite ready to part from its property market!
June 29, 2015Article by Charlotte Ashton
The UK’s buy-to-let market is enjoying a sustained boom, with rising rents keeping yields at an attractive rate for investors looking to profit from bricks and mortar up and down the country. Nor is it just UK-based investors who are watching their money grow through buy-to-let: new data has shown that even expats are looking to buy into the action.
You can take the expat out of England…
Offshore bank Skipton has reported a significant level of interest from expats based in the Middle East in its range of buy-to-let mortgages for those living and working overseas. The United Arab Emirates is a popular destination for Brits heading abroad, but upping sticks and starting a new life overseas has clearly not left those expats oblivious to what’s going on back in Blighty when it comes to the property market.
“We have a strong contingent of expats among our investors,” comments Ray Withers, Chief Executive of leading property investment specialists Property Frontiers. “Our experience has shown that expats tend to take more of a global perspective when it comes to property investment. They don’t like to be bound by man-made borders so if the UK is the global investment hotspot for buy-to-let, as it has been for a number of years now, then that’s where they’re going to invest.”
Rents on the rise
Rising rents are a key draw at present, with the HomeLet Rental Index reporting rent increases in all 12 UK regions in the three months to May 2015. The average rent for new tenancies during that period was £935 per month, as the UK’s private rented sector continues to experience high demand. While Greater London, as ever, commanded the highest rent (£1,506 in the three months to May), the overall picture was one of strong regional performance, according to Martin Totty, chief executive officer of Barbon Insurance Group, HomeLet’s parent company.
Forget the north-south divide
When it comes to regional buy-to-let opportunities, the north-south economic divide in the UK becomes largely irrelevant. Property Frontiers’ Ray Withers explains,
“From high spec modern apartments in Brighton to waterside luxury in Greater Manchester, buy-to-let properties across England are in much demand. The sector has experienced growth in towns and cities up and down the country and the inability of the supply of new homes to keep pace with the increased demand is creating significant and sustained opportunities for investors, whether based in the UK or elsewhere in the world.”
Property Frontiers is presenting a wide range of UK buy-to-let options to clients, from the stunning, boutique Park View Apartments in Brighton, which start from £330,000, to the contemporary homes of Custom Quay in Salford Quays, from £127,000.