London property market a trustworthy choice for Middle East investors in 2023

  • Date: 21-Feb-2023
  • Source: Zawya
  • Sector:Real Estate
  • Country:UAE
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London property market a trustworthy choice for Middle East investors in 2023

- London properties could increase in price by up to 8% in 2023, with prices on average increasing 5.9% every year between 2011 and 2021

Dubai, United Arab Emirates: UK property is proving to be a popular long-term investment with buyers from the Middle East, especially in up-and-coming areas of London, according to the latest insights from Barratt London.

Centrally located apartments in the city, a home-from-home for students attending the capital’s prestigious universities, and income-generating rental apartments are all adding to the draw of London property and maintaining its position as an investment hotspot.

An unexpected bonus for many international investors, especially for Middle East residents due to their currency being pegged to the US dollar, is the slight weakening of the pound.

Stuart Leslie, International Sales and Marketing Director at Barratt London, says, “We expect the Pound Sterling to remain an attractive proposition for overseas buyers, so it’s still a good time for investors who are looking to capitalise on this discount. We expect rental prices to continue to increase across London for the foreseeable future, providing great opportunities for investors looking to rent their properties.”

With the average rental price in London now at £2,480 (AED10,961) per calendar month, according to Rightmove’s