Balli Real Estate Sees Return Of Activity In UK Property Market
Released
on: June 24, 2009, 8:32 am
Author: Balli
Industry: Real
Estate
Balli
Real Estate has revealed that fluctuations in the world’s
currency exchanges and the fall in the value of sterling caused
by the global financial crisis have once again made the UK’s
property market a lucrative proposition for investors.
Recent
statistics have revealed a rise in market activity and increased
levels of mortgage approvals market as buyers return to the market
after months of inactivity. This increase in market sentiment
is not restricted to the occupational market and has been mirrored
with an increase of investment activity.
Balli
Real Estate, the private property company, has witnessed an increase
in levels of interest in the UK market from domestic and overseas
buyers during the first quarter of the year, as a window of opportunity,
which opened with the fall of the pound against the world’s
major currencies, has been spotted by investors.
Vahid
Alaghband, group chairman of Balli Group, observes that the
fall in sterling earlier in the year made the UK an attractive
proposition for overseas investors and comments: "The relative
weakness of the pound against other currencies and the fluctuations
of the exchange rates are proving to be very beneficial to buyers
from overseas, looking for new opportunities thrown up by the
turmoil being experienced by real estate markets around the world.
With low prices and yields at up to 10%, property has become a
good investment again. In particular the housing market in the
UK, of which around 50% is underwritten with government money,
and with supply at record low we expect the market steadily through
to 2014. The return to the market of competitive mortgages will
prove a further boost."
Balli
Real Estate suggests that the pound’s relative weakness
on the world’s currency markets will make the UK particularly
attractive to buyers from the USA, Hong Kong and the United Arab
Emirates.
Alaghband
continued: "The argument for an influx of overseas investment
is compelling when you combine a 30% fall in the value of the
pound with, in some cases, a similar fall in property values.
This inward investment is helping to bring an increase in liquidity
to the market, which will be an important factor in the recovery
of the residential and commercial property markets in the UK."
Balli
Real Estate expects that established and mature markets will
prove particularly attractive to foreign investors as the fundamentals
of location, accessibility and communications will remain key
drivers for occupiers and investors.
David
Reid of Balli Real Estate said: "The old adage of ‘location,
location, location’ holds good whether the market is good
or bad and the established and proven locations of our towns and
cities will continue to draw occupiers and purchasers."
"This
has been witnessed at ‘Latitude’ our 172 apartment
development in
central Birmingham a short distance from New Street train
station and the Bullring. Sales in the third and fourth quarters
of 2008 were negligible but we have seen a steady increase during
the first quarter of 2009.
About
Balli Real Estate:
Balli Real Estate is a leading multi-national real estate investment
and development company operating in the UK, the Middle East and
other lucrative markets. In the United Arab Emirates the company
operates under the Peacock Ventures Ltd brand. The company focuses
on four key activities: fund management, joint venture developments,
direct developments and bulk purchase investment, and is involved
in some of the most prestigious real estate projects in the world.
Contact Details:
Alex Lawrie
Balli
7 Hertford Street
Mayfair
London
W1J 7RH
020 7886 0304
www.balli-re.com
2012
