Can there be a recovery from the unbearable situation of the present before long? It seems so since there has been growth in levels of interest in the UK market from overseas in recent weeks. Reason? The reduction in the value of pound against the world’s major currencies has led to the development of opportunity. This new development has been closely witnessed by Balli Real Estate which happens to be the developer of the 172 apartment Latitude property development presently under construction in central Birmingham. This has also made Balli property developments popular among those who are trying to invest in UK property from abroad.
According to the evaluation of Vahid Alaghband, Group Chairman of Balli Group, UK has become an apposite ground of profitable investment and this has happened due to the decrease in the value of sterling. He stated very clearly, “The relative weakness of the pound against other currencies and the fluctuations of the exchange rates are currently proving to be very beneficial to buyers from overseas who are looking for new opportunities thrown up by the turmoil being experienced by real estate markets around the world.”
Hassan Alaghband, director at Balli said, “The argument for an influx of overseas investment is compelling when you combine a 30% fall in the value of the pound with, in some cases, a similar fall in property values.” “Inward investment will help bring an increase in liquidity to the market, which will be an important factor in the recovery of the residential and commercial property markets in the UK.”
David Reid of Balli Real Estate stated, “The old adage of ‘location, location, location’ holds good whether the market is good or bad and the established and proven locations of our towns and cities will continue to draw occupiers and purchasers.”
“Our ‘Latitude’ development will see 172 apartments and penthouses located a short distance from New Street train station and the Bullring for private sale and, since its launch, over 60% of the total development has been sold. Situated in the heart of the city, on the corner of Bromsgrove and Hurst Street, ‘Latitude’ is just a few minutes’ walk from the Bullring Shopping Centre and Birmingham New Street Station and supports our philosophy of providing high specification and stunning accommodation in desirable and prestige locations.” he added.
0 Responses
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.