Long-term property investments 'a safe bet'
People who are willing to take a long-term perspective in the property market need not be alarmed by the current downturn, it has been claimed.
The Property Investor Network (PIN) acknowledged that falling house prices would be unsettling for many, but it insisted there is a silver lining behind the current gloom.
While most analysts are warding prospective homeowners off getting on the housing ladder, the network said that for buy-to-let investors there are significant opportunities in the current climate.
"It's a great time to buy because you can get a fantastic price," asserted PIN founder Simon Zutshi.
"But because prices are going to be shaky for the next couple of years you are going to have to wait a long time for prices to come up - it's got to be a long-term investment."
Mr Zutshi reiterated: "Property is a long-term investment - it's not a get rich scheme. You need to buy now at a great price but be prepared to hold it for a while."
Analysts have said London property has the potential to be particularly profitable given the capital's status as a global hub.
Published 15th May, 2008
© 2008 Estates IT Limited
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People who are willing to take a long-term perspective in the property market need not be alarmed by the current downturn, it has been claimed.