Overseas investors continue to show an interest in the real estate market in London and the Home Counties, with industry experts predicting a spring revival within the sector
A forecast increase in interest rates will help to boost the top end of the market in particular, according to Andrew Giller, partner and head of the Buying Solutions Office in London.
"We may see an increase in transactions during the first quarter of 2011 due to a stamp duty increase to five per cent on properties above GBP1 million which comes into force in April 2011. There is likely to be increased speculation that interest rates
will start to rise, encouraging buyers to consider competitive mortgage arrangements sooner rather than later," he explained.
Meanwhile, a growing number of Russian, Chinese and Indian buyers are starting to look at properties within the Home Counties of Berkshire, Buckinghamshire, Surrey, South Oxfordshire and West Sussex.
However, the firm added that the top end of the country house market is likely to struggle as it is generally overpriced at present.
- Friday 26 November 2010