Middle East buyers are increasingly demonstrating interest in the London real estate market, reportedly attracted by high yields and projected capital appreciation, according to Barratt MENA.
“There has been a significant uptick from buyers in the Middle East looking for a home in London for work or as a home for children who are studying in the capital. With projected capital growth of 19% in the next five years and expected rental yields of up to 5.9%, the development offers great value for money, piquing the interest of Middle Eastern investors keen to diversify their portfolios in a reputable and potentially lucrative market,” said Stuart Leslie, International Sales and Marketing Director.
Barratt London recently launched in the MENA region, part of the UK’s largest housebuilder Barratt Group, the region’s office will be led by UAE-based Hardington Residential.
The firm is set to target Middle East investors with a range of projects. Barratt MENA will make its debut at Cityscape Global in Saudi Arabia.
One such project being showcased is Barratt London’s Hayes Village regeneration project, recently visited by Prime Minister Rishi Sunak.
Hayes Village was developed on a former Nestle factory site, the development offers a range of apartments with some still retaining art from the original factory. Apartments start from $415,000. Residents will have access to surrounding parks and gardens, a fitness trail, outdoor gym equipment and play areas.
Leslie said, “Similarly to our other major regeneration schemes, Hayes Village is proving popular with overseas buyers, particularly those from the Middle East where we have seen significant interest and sales from individuals and family offices from Saudi Arabia, Kuwait, Qatar and the UAE.
Another London development attracting attention from Middle East investors is the newly launched Wembley Park Gardens, situated in Wembley Park, the area has seen a $3.5bn regeneration in the last 20 years.
The development holds 302 apartments starting from $495,000.