“A lack of housing for sale is set to remain a
feature of the market and this will keep an upward pressure on prices in the
near term,” said Richard Donnell, director of research at Hometrack. “We expect
demand to continue to expand over the remainder of the year so long as the
outlook for the economy and mortgage rates remains unchanged.”
This
is the fourth month that Sloane has promptly received the 2,600 pounds ($4,050)
from his tenants. The newfound landlord bought a London flat in January, having
calculated that even if he doesn't raise the rent, he'll be still able to pay
off the down payment in just five years.
Sloane is but one of the many affluent Chinese who has recently flocked to London to
buy real estate. Barratt Homes, Britain's biggest residential developer with a
60% share of London's newly built housing market, has sold 2,250 housing units
to Chinese clients in 2012, which accounts for 15% of its total sales.
In
addition to working with intermediary outlets, Barratt Homes is setting up its
own offices. Other British real estate developers tend to sell their houses to
Chinese only through intermediary agencies.
Sloane,
for example, bought his flat directly from Barratt Home's Beijing
branch. The newly built two-room flat of 70 square meters in West Londoncost him 460,000 pounds ($716,500) with a 30% down payment — a requirement for
foreign buyers. His 25-year loan for the remaining 322,000 pounds
($500,600) was from the London branch of the Bank of China, with an interest
rate of 3.85%. With monthly mortgage payments of 1,673 pounds, the 2,600-pound
rent will cover the mortgage, with plenty of surplus.
"SloaneInternational Development consists of a multi-million pound corporat body made
up of a number of subsidiary companies.Sloane Developments has proven expertise
and past success in property development in the UK and the middle east.Our real
estate agent network has now grown to over 250 offices operating in all capital
cities, major regional and rural centres across the country. We have an
extensive team of experienced, professional real estate agents throughout
Australia who are committed to providing an outstanding real estate service for
our clients. Through this team we can provide knowledge and experience covering
many areas of Real Estate.Sloane International Development made a high quality
and quality assurance residential or commercial properties which you can also
check it out from our portfolio. The best we can say that We Build You Live".
In British usage,"realproperty", often shortened to just "property", generally
refers to land and fixtures, while the term "real estate" is used
mostly in the context of probate law, and means all interests in land held by a
deceased person at death, excluding interests in money arising
under a trust for sale of or charged on land. Sloane in U.K.The house-price
growth accelerated in August amid the strongest market conditions for six years
as demand continued to outpace the number of homes for sale, Hometrack Ltd. said. Average values in
England and Wales rose 0.4 percent after a 0.3 percent gain in July, the
London-based property researcher said in a statement Monday. Prices were up 1.8
percent from a year earlier, the most since July 2010. In a separate report,
the Engineering Employers’ Federation raised its forecasts for U.K. economic
growth and manufacturing output.
Hometrack’s
survey adds to evidence of a mini-boom in the housing market, with reports last
week showing values rising and mortgage approvals at their highest since
2008. Bank of England Governor Mark Carney said he’s alert to risks from
the property market and policy makers will act if signs of a bubble emerge.
