|Real Estate News|
Following the rapidly increasing interest of clients in the UAE and neighbouring countries for overseas investment opportunities, Landmark Properties, one of the leading real estate companies in the Middle East, has opened an office in the UK.
The office, located in Mayfair, London, caters to clients in the Middle East who are interested in taking advantage of the up to 50% savings available on properties in the current UK market.
‘The London office has been set up as our clients in the UAE and neighbouring countries have shown great interest in investing in the UK. Investment opportunities are available now as property prices are dropping and the UK market continues to be both solid and mature. Our London Property Consultants are providing our clients strategic counsel on neighbourhoods in the UK and helping educate them on the different types of properties available for investment. Some clients are even inquiring on the relocation process which we are able to assist with as well.’ said John Michael, manager, Landmark Properties UK.
Investors from the Gulf are finding that the UK is a proven property market with robust long-term fundamentals. Mature markets such as London have been through many previous cycles, experiencing both peaks and troughs, so the longer term movements can be anticipated. Therefore, analysts estimate that property values in the UK may appreciate considerably in value in the next 3 to 4 years.
During the last six months, the pound has lost more than 25% of its value against the dirham. This means a property valued £500,000 six months ago would have cost Dhs3,600,000, whereas today it will cost Dhs2,660,000 - a massive saving of Dhs940,000.
‘If you live in the United Arab Emirates or elsewhere in the region, there has never been a better time to invest in London properties — the exchange rate is in our favour and the Bank of England base rates are at an all time low of 0.5%, therefore excellent rates can be achieved for clients based outside of the UK. The UK property market is transparent, well regulated and offers security of tenure. Investing in property is safer than depositing cash in banks, a lesson that many have learned, the hard way, over the past few months,’ Michael added.
Landmark Properties UK is located in Green Park House, 15 Stratton Street, Mayfair, London.