The London property market could be ideal for those with the patience to let their investment grow.
Foreign investors using international money transfer services to help buy property in London to protect their cash could make more gains the longer they stay in the market, it has been claimed.
According to London Central Portfolio, the English capital’s housing industry is likely to continue to grow, despite the recent downgrading of the US’s credit rating.
Head of investment Hugh Best noted that the next few weeks could be interesting as a result of the move, but said he does not expect the London property market to be affected in the same way as other forms of investment are.
“What we generally find is that property is relatively a liquid – it doesn’t have as much of a knee-jerk reaction as things like stocks and shares in terms of fluctuations,” he explained.
“And actually, by the time there is a cause for action, the problems have normally passed. So we don’t expect any major fluctuations [to be] caused by the current circumstances on the market.”
The expert added that the property sector in the British city is expected to continue its upward trend, claiming that those who stay for the medium to longer term can expect their investments to be rewarding.
Posted by Huw Jenkins