Overview of the real estate market of Great Britain
The real estate market is formed at the expense of an investment of money in real estate objects and also is the system of the economic relationship arising in a consequence of purchase and sale of the real estate.
The market of a residential and commercial real estate of Great Britain - one of important components of the British national economy.
Great Britain possesses the real estate market, developed, organized, joint with national economy, that serves as the fertile field for investments of investors.
Better to understand the current state of the real estate market of Great Britain, it is necessary to address the rich history of the country in the field. History represents a wavy way and consists of growth and recession of the real estate market.
After World War II the economy of Great Britain was restored by intensive rates, as well as economy of many developed countries affected by destructive impact of war. And already in the late fifties Great Britain occupied with one of leading places in world economy. However, in the 1960th there was an economic downturn as a result of which consumer capability of local population decreased and, respectively, caused reduction of prices of the real estate. The American investors used this situation in time and began to make investments in the real estate actively.
From 1973 to 1975 the largest world oil crisis also known as the oil embargo in which Great Britain was involved burst. As a result crisis came to the end, having made resolute changes to economy of the developed countries. In such situation demand for the real estate decreased from foreign investors. The real estate market of Great Britain with advantage passed this test and gradually, since 1978 began to increase the prices and the rates of sales. As a result of the price returned to regulation in 1980. The next recession arose in 1980-1982 when inflation reduced real estate sales volumes on the Foggy Albion.
At the beginning of the 21st century the real estate market of Great Britain endures a phase of stable growth, now to make investments in the real estate of the United Kingdom – means to carry out the profitable transaction, and it is the world famous fact. Great Britain is the country with the developed and stable economy, it has special charm of superiority and is the image country for purchase of housing. It is the country with rich traditions, history, the stable power where laws are observed, and conservatism promotes accumulation of wellbeing and prosperity. Rich investors from around the world look at the real estate of Great Britain as on smooth water for the capitals. The real estate market of Great Britain is open and transparent also real estate investments generally long-term here. As a result of a recent research of the British university the trend which essence consists that price increase in the central regions of London is connected with the level of world instability was revealed.
At the moment the cost of the house or apartment in England are so high that locals, it is difficult to them to contend with rich investors, even more often incline to lease of housing, than its purchase. In addition to high prices, the situation worsens at the expense of the English banks which complicate process of issuance of credits on expensive real estate. For the last 6 years the number of the people renting housing increased by 55%. There is a vicious circle in which increase in demand leads to increase in the prices, according to the price for lease began to grow steadily.
Interesting trend of the market it is possible to call increase in number of nonresident buyers, earlier such investors bought up the elite real estate in the central regions and in the popular cities, and now foreign buyers with pleasure buy housing of a premium class in various available and remote districts of London. Recently the share of foreign investors in new buildings makes about 40-60% and they are provided by natives of East Asia, including China, Singapore and Hong Kong. Also investment attractiveness for foreigners is promoted by consecutive depreciation of pound sterling to dollar and euro in recent years. In one and a half years dollar exchange rate to pound sterling grew by 20% that led to reduction in cost of some objects on a quarter in the central regions Kensington, Naytsbridge and Chelsea.
Problem for purchase of the real estate in Great Britain is in general not so much real estate price though often she is acceptable, how many high taxes on purchase and the maintenance of the real estate. Since April 1, 2016 increase in a stamp duty for 3% for acquisition of the second real estate object was entered. This measure was taken by the government to give the chance to buyers of the first housing to purchase the real estate at more affordable prices.
If the purpose of purchase is investment of means with further income acquisition, then it is worth paying attention to some aspects. Among investors studios and apartments with 1 and 2 bedrooms are according to the statistics more popular. From the profitable districts of London experts allocate the following areas: Kensington, Izlington, Hammersmit, Shoreditch and also Notting Hill. From other regions of Great Britain more interesting cities in respect of investments are first of all the business, education and cultural centers of the country: Oxford, Cambridge, Manchester, Liverpool, Birmingham, Canterbury, Bristol. Houses as an object of the residential real estate enjoy wide popularity in England, such houses buy in suburbs or in picturesque regions, such as well-known Lake-land (Cumbria) where they go behind pure ecology and an opportunity to be engaged in farming.
If the buyer of the real estate sets before himself the purpose residence in the country, then when choosing the real estate it is worth making a start from pressing needs and opportunities. We recommend to pay attention for a year of construction, the next infrastructure, remoteness from work/study, transport availability.
Real estate prices in Great Britain depend on the considered region. The most expensive real estate market Foggy Albyn's capital – London where the prices for square meter fluctuate around 5-25 thousand pounds sterling has. In the suburb of London the prices much lower and are about 4-7 thousand pounds sterling for square meter. If you look for the inexpensive real estate in England, once you pay attention to northern regions of the country, such, the Western Midland, Northwest England, Humber and Yorkshire. In these regions of the price on average 2-4 thousand pounds sterling for square meter. In Great Britain annual increment of the prices of the city residential real estate averages 6.4%.
Forecasts of experts for the closest remaining balance of year differ in optimism. After increase in activity in the market of elite housing in the central regions of London, in a consequence of the increase in a stamp duty by 3% announced at the end of 2015, approach of calm in the market before date of announcement of results of a referendum on membership of Great Britain in the European Union which will take place on June 25 this year is expected.
Buyers of the real estate for the subsequent leasing can become more active as a result of creating favorable conditions of bank lending. In case demand for the rented housing increases, owners will increase the prices of lease. Experts at the moment predict increase in prices for 5%.
Already many years the real estate in Great Britain is considered a profitable investment, but this very expensive pleasure. Housing in England is chosen generally by people of an average and highly prosperity. The real estate of the British real estate market has high liquidity and does not force to reap the residents long. If you did not visit our the new site of a porn yet, we recommend to make it as soon as possible. At least so you will manage to find in the best possible way a private porn of mature women close up. Especially if to choose category a house porn of mature women with big forms. It is the most pleasant to watch a bang of such beauties. The real estate in Great Britain brings the of the owner permanent and net income on a long-term basis. It is worth approaching considerable purchases after careful consideration and it is desirable to ask specialists of the market for the help in purchase to receive the qualified help and to secure itself. Specialists of AWAY REALTY with pleasure will give complete consultation and will help with purchase of the real estate with Great Britain. Our specialists will be glad to answer your questions by phone number +7 495 258 88 66.
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