Prospective Buy to Let investors
may be interested to hear that the real estate market in London offers the best potential for rental growth of any European market in the coming five years. According to real estate service provider Savills, the English capital will enjoy a significant increase in tenant demand over the period.
This will be complemented by "restrained" levels of development and will put the London rental market in a strong position for potential investors, Matt Oakley, director of commercial research at the company, said.
"[There is also] the fact that probably London's property market is about a year ahead in the cycle of most other European cities, so it went down first, but it is coming back first," he added.
Indeed, the expert's comments come just after Jones Lang LaSalle released a report stating that London had climbed from eighth position to first in a list of the most attractive destinations for European real estate investment. London jumped ahead of last year's winner, Munich, thanks to its strong rebound after the global financial crisis.
- Friday 15 October 2010