Investing in off-plan property in the UK right now is a fantastic opportunity not to be missed for several reasons:
Potential for greater Capital Growth:
Off-plan properties are often sold at a lower price than completed properties, giving investors the potential for capital growth when the property is completed and the market value rises.Buying off-plan provides clients with the opportunity to purchase properties in up-and-coming areas and potentially benefit from the capital growth of the location.
By investing in a property in an area that is predicted to experience growth and development, clients may be able to see a significant increase in the value of their property over time. This can offer a great investment opportunity and help clients build long-term wealth through their property investment.
While interest rates have been on the rise recently, experts predict that they may fall in the coming year. By buying off-plan, clients could potentially secure a property at today’s prices and take advantage of lower interest rates when they apply for their mortgage in the future. This could help clients save money in the long run and make their property investment more lucrative.
High Demand for New Builds:
New developments are easy to rent. According to a recent report by Knight Frank, a leading global property consultancy, new-build properties in the UK have been performing well in the rental market. The report found that rental values for newly-built homes in prime central London outperformed the wider London market, increasing by 2.2% in the first quarter of 2021, compared to a 1.7% rise for the London market as a whole.
The report also noted that new-build rental properties outside of London have seen strong demand, with rents in regional UK markets increasing by an average of 2.5% in the first quarter of 2021, compared to the same period in 2020.
Incentives from Developers:
Developers often offer incentives such as reduced prices, flexible payment plans, or added amenities to attract buyers to their off-plan developments.
Strong UK Property Market:
The UK property market has historically been a strong and stable investment, with consistent growth in property prices over time.
In conclusion, investing in off-plan property in the UK right now presents an excellent opportunity for investors. With the potential for greater capital growth, lower interest rates, high demand for new builds, incentives from developers, and a strong UK property market, buying off-plan could help clients build long-term wealth through their property investment.
By taking advantage of these factors, investors may be able to secure a property at a lower price and potentially see a significant increase in its value over time, making off-plan investment a compelling option not to be missed. Get in touch to find out more.