Middle East investors are increasingly turning their attention to the London real estate market, drawn by the prospect of high yields and anticipated capital appreciation, according to insights from Barratt MENA.
Stuart Leslie, International Sales and Marketing Director at Barratt MENA, highlighted the notable surge in interest from Middle Eastern buyers seeking London properties. These investors are motivated by various factors, including securing homes for work purposes and providing accommodation for their children studying in the UK capital.
Leslie stated, “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.”
Barratt London, a division of the UK’s largest housebuilder Barratt Group, recently expanded its presence into the MENA region. The regional office is based in the United Arab Emirates and will cater to Middle East investors with a range of enticing property projects. Barratt MENA will make its inaugural appearance at Cityscape Global in Saudi Arabia.
One of the flagship projects showcased by Barratt London to attract Middle East investors is the Hayes Village regeneration project, which was recently visited by UK Prime Minister Rishi Sunak. This development is situated on the site of a former Nestle factory and offers a variety of apartments, some still featuring original factory art. Prices for apartments at Hayes Village start from $415,000, and residents will have access to nearby parks, gardens, a fitness trail, outdoor gym equipment, and play areas.
Leslie emphasized the project’s popularity among overseas buyers, particularly from the Middle East, where there has been considerable interest and sales from individuals and family offices in Saudi Arabia, Kuwait, Qatar, and the UAE.
Another London development garnering attention from Middle East investors is the newly launched Wembley Park Gardens, located in Wembley Park, an area that has seen $3.5 billion in regeneration investments over the past two decades. The development comprises 302 apartments, with prices starting from $495,000.
Ian Plumley, Managing Director of Hardington Residential, noted that Middle East investors have swiftly recognized the financial opportunities presented by several of London’s regenerative areas, including Wembley Park Gardens. Plumley highlighted robust yields, impressive return on investment, and substantial capital appreciation as factors contributing to heightened interest from buyers in the Middle East.
“Cityscape Global represents an excellent opportunity to showcase the quality of the developments offered by Barratt London while also providing an overview of the potential financial remuneration investors can expect. We will have a team on hand able to outline everything from the areas within London where the developments are located to applying for mortgages, ensuring a confident and informative process,” Plumley concluded.
As the London real estate market continues to capture the attention of Middle East investors, collaborations like those initiated by Barratt MENA are poised to facilitate increased investment flow into the UK capital’s thriving property sector.
