Balli Real Estate Sees Return of Activity in UK Property Market
Balli Real Estate reveals that the drop in value of sterling makes the UK property market more desirable
London, UK (PRWEB) June 25, 2009 -- Balli Real Estate has revealed that fluctuations in the world's currency exchanges and the fall in the value of sterling caused by the global financial crisis have once again made the UK's property market a lucrative proposition for investors.
Recent statistics have revealed a rise in market activity and increased levels of mortgage approvals market as buyers return to the market after months of inactivity. This increase in market sentiment is not restricted to the occupational market and has been mirrored with an increase of investment activity.
Balli Real Estate, the private property company, has witnessed an increase in levels of interest in the UK market from domestic and overseas buyers during the first quarter of the year, as a window of opportunity, which opened with the fall of the pound against the world's major currencies, has been spotted by investors.
Vahid Alaghband (http://www.balli-re.com/balli-team.htm ), group chairman of Balli Group, observes that the fall in sterling earlier in the year made the UK an attractive proposition for overseas investors and comments: "The relative weakness of the pound against other currencies and the fluctuations of the exchange rates are proving to be very beneficial to buyers from overseas, looking for new opportunities thrown up by the turmoil being experienced by real estate markets around the world. With low prices and yields at up to 10%, property has become a good investment again. In particular the housing market in the UK, of which around 50% is underwritten with government money, and with supply at record low we expect the market steadily through to 2014. The return to the market of competitive mortgages will prove a further boost."
Balli Real Estate suggests that the pound's relative weakness on the world's currency markets will make the UK particularly attractive to buyers from the USA, Hong Kong and the United Arab Emirates.
Alaghband continued: "The argument for an influx of overseas investment is compelling when you combine a 30% fall in the value of the pound with, in some cases, a similar fall in property values. This inward investment is helping to bring an increase in liquidity to the market, which will be an important factor in the recovery of the residential and commercial property markets in the UK."
Balli Real Estate (http://www.balli-re.com/ ) expects that established and mature markets will prove particularly attractive to foreign investors as the fundamentals of location, accessibility and communications will remain key drivers for occupiers and investors.
David Reid of Balli Real Estate said: "The old adage of 'location, location, location' holds good whether the market is good or bad and the established and proven locations of our towns and cities will continue to draw occupiers and purchasers."
"This has been witnessed at 'Latitude' our 172 apartment development in central Birmingham (http://www.balli-re.com/latitude.htm ) a short distance from New Street train station and the Bullring. Sales in the third and fourth quarters of 2008 were negligible but we have seen a steady increase during the first quarter of 2009.
About Balli Real Estate:
Balli Real Estate is a leading multi-national real estate investment and development company operating in the UK, the Middle East and other lucrative markets. In the United Arab Emirates the company operates under the Peacock Ventures Ltd brand. The company focuses on four key activities: fund management, joint venture developments, direct developments and bulk purchase investment, and is involved in some of the most prestigious real estate projects in the world.
PR Contact:
Alex Lawrie
Balli
7 Hertford Street
Mayfair
London
W1J 7RH
020 7886 0304
www.balli-re.com
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