uk property could recover sooner than expected
News Posted On: 09 February 2009
Overseas property investors could return to the UK real estate market sooner than expected, an expert has suggested.
London economist Roger Bootle said the next two years were likely to be "pretty grim" for the British economy, resulting in falling rents and higher rates of tenant defaults for buy-to-let investors.
However, he claimed that many cash-ready buyers are now poised to take advantage of the current low prices, with "an enormous amount of money" waiting to be invested.
Mr Bootle said this is likely to prompt a recovery in the real estate industry that will take place sooner than some people might expect.
"The sector may see a rebound in activity and prices well before overall levels of economic activity have improved," he explained.
This could be good news for investors who are currently in a position to buy property in England, as they could make favourable returns on their purchases.
According to research by Hamptons International, the UK market is becoming increasingly popular with European buyers as a result of falling prices and the decline of the pound.
Overseas Property - serving the overseas property market since 1992
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