Barratt Homes sets its sight on buyers in Asia to move new product launches

London property market has recommence its balance with credible real estate developers like Barratt Homes retargeting Asian buyers to cross-sell their development in the pipeline. International buyers, mainly Asian, In recent quarters, have been the leading force behind the property market in London as local demand flagged due to rising mortgage rates. Barratt Homes is a one of the exemplary successful real estate developers in London with strong record of real estate portfolios. Over the last five years, an approximately of 200 new apartment homes has been delivered by the developers. Barratt Homes is keen to cast it network to Asia Pacific-based investors this year who are willing to tap on the currently attractive exchange rate to add on London properties to their existing portfolios.
UK Overall inflation has vanished to an “justifiable” quantity of about 6.4 percent with heartening gauge pointing to a continuing downward trend, says Steve Thompson, found and partner of Barratt East London, a regional office of Barratt Homes. the UK property price however began to soften since beginning. “Many market lookers, domestic buyers and international investors were shocked with the price last year where residential property prices across the UK started to soften. But we are at a point where prices are starting to become uniform,” says Craig Carson, managing director of Barratt West London. foreign buyers have to pay a 60% additional buyer’s stamp duty (ABSD) since April 27 in Singapore. Singaporeans acquiring their second residential property will have to pay 20% ABSD, and 30% on their third and additional purchase. Some investors have henceforth swapped their attention to the UK.
The UK developer will commence its Sterling Place project in Asia on October 14. One Global is engaged to be the marketing agent for Singapore. Sterling Place is a 456-unit new project located in New Malden, an area southwest of central London. This will be the UK developer maiden launch in overseas. On top of that, Barratt Homes is presenting forty-two new units at its project in Bermondsey in London’s Zone 2 district. The project, called Bermondsey Heights, is a 163-unit 26-storey development.According to Thompson, the median transacted price of GBP800 psf ($1,327 psf) for Bermondsey Heights is viewed “the most affordable price for a new residential development in Zone 2”. The median transacted price is equivalent to new projects outside Central London, he says. The forty-two units offered for sale in Singapore will be a mix of one- to three-bedroom apartments on the top six floors of the 26-storey tower. Barratt Homes has made a name for itself by recognizing areas throughout London that have opportunity for future rejuvenation and this was exactly what the real estate company had identified at Bermondsey, says Thompson.

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