Property Rental in London Gets Hot
18th December, 2009 - Posted by admin - No Comments
© PhillipC
Property rental in London is becoming a hot industry – for just about everyone.
Renting a house in London is becoming a more common choice because it provides some financial flexibility in the current economic setting (the UK is one of the few countries where the Recession still has a grip). The cost of buying a house together with the tight credit market means that first time home buyers face some serious barriers to purchasing a home. Many see renting as their only choice.
The difficulties faced by would-be first-time home buyers is only part of the picture. Many investors in the UK are fed up with the stock market and see real estate as a safe alternative. There's been about a 40% increase in demand for investment property in the half million pound price range in the second half of the year. Buying-to-rent is a new investment trend. Existing property firms want to increase the size of their portfolios. At the same time, new investor-landlords are entering the field.
Add to this the fact that managing a property portfolio has become simpler in the last decade. The insurance picture has improved for landlords. The Internet had made advertising easy. And demand has grown.
That demand is going to continue to grow. And the Recession may mean that renting becomes a more palatable option – even once Recovery takes hold.
Posted on: December 18, 2009
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