'Wealthy investors' could consider property purchase
Many wealthy investors are looking to expand their property portfolios in the near future, it has been revealed.
According to a new report by Barclays Wealth and the Economist Intelligence Unit, 35 per cent of high net worth individuals plan to purchase more properties within the next two years, compared to 17 per cent who aim to reduce their portfolio.
Furthermore, 76 per cent of investors believe there are opportunities in residential property, while 68 per cent said the same about commercial property.
However, Britons who do not consider themselves to be wealthy may find that flats to rent in Islington or other parts of London are more affordable than property for sale in the same area.
This may be particularly true after recent figures from the Land Registry revealed that London house prices are increasing.
Commenting on the news, Richard Bowser, editor at Property Investor News, said: "If you take a medium-term view, then my view is that those people who have cash to invest should be looking at putting a proportion of that cash into UK residential property."
Written by Ben Carter
Published 1st December, 2009
© 2009 Estates IT Limited
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While many wealthy investors are looking to purchase property according to one report, Britons on a more modest budget may wish to rent instead.