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Whilst the steady stream of negative economic news attacks the senses, the weakened pound and the depressed UK property market create a unique set of circumstances which present a very attractive investment opportunity for overseas buyers.
History tells us the U.K. property market is cyclical and there is no indication that the latest downturn has changed this pattern. Despite its fluctuations over a 5 -7 year period, the long-term trend has been upward.
If the average price of a UK property has already dropped 20-25 per cent since its peak in 2007 and the exchange rate is factored into the equation, then a property could be up to 50% cheaper for an overseas investor than it was 18-24 months ago. This could represent a relatively small window of opportunity in a property market which has become one of the most bullish in Europe.
Although the market is predicted to fall further, no one can ever predict when the bottom of it will come! It would seem to be sensible to take advantage of what is already an attractive investment opportunity now.
MSI's Bournemouth law firm member, Lester Aldridge LLP has a team of experienced, commercially driven lawyers, perfect for exploring any opportunities in the market.
Real Estate partner, John Townsend, specialises in residential property and has the contacts to source the right opportunity and the experience needed to guide clients through the legal and transactional maze. Whilst always approachable, John is armed with the skills to get the deal done.
Finding and buying properties is only half the equation. UK non domiciled and UK non resident investors will also need to think carefully about the appropriate structure for their purchase to avoid or at least mitigate UK tax issues. At LA we have a strong trusts and tax team who not only advise on UK taxation issues, but also on appropriate offshore jurisdictions and structures.
As a result, LA can offer a complete UK property purchase service for your clients.
For more information
Please contact John Townsend at Lester Aldridge LLP Solicitors
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