OVERSEAS INVESTORS TEMPTED BY NOTTINGHM PROPERTY MARKET
In a story posted on 15 January 2015, the Nottingham Post reports:
Overseas Investors Seek Nottingham Property
An improving UK housing market is tempting property investors from far and wide to Nottingham. As foreign investors continue to focus on the UK’s property market, it seems that those looking to expand their portfolios are now venturing outside of the capital and snapping up local homes in a bid to make a profit from improving regional market.
With a steady increase in house prices over the last year for Nottinghamshire, the Land Registry reports an annual increase of 4.7 cent bringing the average house price to £126,255, it is easy to see why the county is proving to be a draw for many people.
Oliver Marshall of FHP Living, which is marketing city centre apartments at Nottingham One, says he has observed a number of investors purchasing at the development.
He said: "Compared with similar exclusive waterside properties in the capital, Nottingham One is an extremely attractive prospect for property investors.
"We are currently seeing the apartments achieving yields of up to seven and a half per cent - something which many investors are looking to take advantage of at the moment.
"Buy-to-let property outside of the capital is very much on the radar of foreign investors now, with new build properties like Nottingham One attracting particular interest as the return on investment is great.
"Strong sales at Nottingham One, both to investors and owner occupiers, has also had a knock on effect within the city's rental market too, as the supply of excellent quality properties for let has received a boost.
"The development has a great mix of rental properties and privately owned apartments which, combined with its wonderful views and city centre location, make it a very attractive place to live."
Since being appointed to market the development in October 2013, FHP Living has completed the sale of 90 apartments – with the main block now fully sold.
Just eight apartments remain for sale, all of which are located in The Tower, which was released for sale in summer 2014. The development is comprised of a range of properties including studio 'crash pads' to one and two bedroom apartments.