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Property investors are looking to London for recession proof investments. Wealthy Europeans are making moves out the failing Eurozone’s crisis hit economies and into the bricks and mortar of the UK’s capital. Asian investors are also taking note of the opportunities of London property investment with significant purchases being seen in both the residential and the commercial markets.
London offers a buoyant property market with a welcoming legal and tax regime. There is no capital gains tax on UK properties sold to buyers with non-resident tax status. With more than 40% of buyers coming from outside of the country the market will continue to avoid over-reliance on the UK economy. Even during the recession, the London property market retains its place as one of the most desirable locations for overseas property investments.
Adding diversity to your investment portfolio now with a London property purchase makes good financial sense. In their quarterly Residential Lettings Survey published in April 2012, the Royal Institution of Chartered Surveyors reported that ‘Rents grew at the fastest pace inside the capital, but registered positive net balances in all regions. Looking ahead, surveyors are most optimistic about rents in London.’ A relatively inflation and recession proof investment in London property can provide an excellent source of additional retirement income.
As an expat you will need to plan for foreign exchange rates and be aware that these may fluctuate significantly over time. One of the ways to mitigate against this risk in a multi-currency mortgage. If you would like to look into the possibilities of a multi-currency mortgage please get in touch.
Tax implications may also arise from receiving an income from a London property investment. A professional, international financial adviser will be able to assist with planning the investment with these factors in mind.
At Infinity we can arrange London property investment starting from as low as £200,000. Our expert knowledge of the London real estate market will ensure high quality advice on local transport, shops and schools. Properties close to the London Underground, schools and supermarkets, are in prime rental areas and in great demand from tenants.
Mortgages can be arranged with major banks when supported by a 30% deposit. In most cases the tenant will essentially be paying back the loan within 15 years. The possibility of rental yields of around 5% and mortgage costs closer to 4% combined with the stability in capital growth makes London property investments not only viable but extremely attractive.
Property has its place in a well-balanced portfolio, it also has its risks – both are good reasons to consult with an experienced adviser before taking the plunge. If you are considering a London property investment, contact us at Infinity and take advantage of our research, knowledge and contacts.
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