London Property remains ‘good bet’ for high return growth
United Arab Emirates (UAE) residents with an eye on the London property market are expected to snap up the latest development launched by Dubai-based London property experts, MiNC Property Enterprises.
Iceland Wharf is a 51-unit, purpose-built development located in the water-side Surrey Quays district of the London Docklands. Two-bedroom apartments start from £245,000.
Director of MiNC Haroon Mahmood confirmed that the capital’s property market remains a good ‘buy-to-let’ market, giving Gulf residents a ‘near-guaranteed’ return-on-investment, particularly with lending rates at their lowest in the last three decades. A further reduction of a ¼ per cent in the Bank of England’s base rate was announced in early February, taking this rate to 3.75 percent.
Mahmood said that, on average, property prices in London achieved far beyond the predicted six percent increase last year, with growth in some areas reaching as much as 20 percent.
In 2002, MiNC showcased 10 developments in Dubai and achieved a 97 percent sales success rate from Gulf residents looking to secure real estate as part of an extended investment portfolio. — (menareport.com)
© 2003 Mena Report (www.menareport.com)