New to Real Estate · London · Member since 2020 · 2 posts · 1 vote
Hi everyone
I'm a UK citizen living overseas in a country where property investments just don't make sense. Is there anyone here that invests in the UK from overseas? Would love to have a chat.
@Billy Dunning@Alex Uman, hi both, I'm looking at the UK market (albeit from the UK). Some items actually have less red tape in my opinion, than the US. For example we filed planning permission to do a home extension and from my understanding it's wayyyyy easier than what my friends have had to go through in Boston, USA. If one is in a conservation area that is not the case here.
It's quite hard to do much here without having a very well articulated view on Brexit. I have friends that bought 4-5 years ago and have had zero price appreciation (their opinion is it is mostly because of Brexit). These are quite expensive areas eg £1000 per square meter, and lucky them to be able to even afford that mortgage, but I seek price appreciation and there are other markets that have risen 50% over that period (Mountain cities in US). It depends on what you are seeking- income? Northern city rentals are very popular for that. But still jobs up there also depend on Brexit. I struggle to find good data to make a decision on this theme so I am waiting instead and will probably do something soon in the US instead (even if there is plenty of political risk there too). Happy to discuss further-I have struggled to get critical mass for a Zoom on these things but I can reply here at least. Maybe people just don't want to hear from me ha ha!
Morning @Billy Dunning, I'm also a UK citizen from my mum's side. I've taken some interest in real estate investing in the UK as I know very little about it. Would love to learn more about it as I'm an agent here in the states and only really understand the US market. Have spoken in the past with an investor from Scotland about the market across the pond. My understanding is that it is somewhat similar to the US market with higher prices and a bit more governmental red tape to cross. Interested in the subject though. All the best!
@Billy Dunning@Alex Uman, hi both, I'm looking at the UK market (albeit from the UK). Some items actually have less red tape in my opinion, than the US. For example we filed planning permission to do a home extension and from my understanding it's wayyyyy easier than what my friends have had to go through in Boston, USA. If one is in a conservation area that is not the case here.
It's quite hard to do much here without having a very well articulated view on Brexit. I have friends that bought 4-5 years ago and have had zero price appreciation (their opinion is it is mostly because of Brexit). These are quite expensive areas eg £1000 per square meter, and lucky them to be able to even afford that mortgage, but I seek price appreciation and there are other markets that have risen 50% over that period (Mountain cities in US). It depends on what you are seeking- income? Northern city rentals are very popular for that. But still jobs up there also depend on Brexit. I struggle to find good data to make a decision on this theme so I am waiting instead and will probably do something soon in the US instead (even if there is plenty of political risk there too). Happy to discuss further-I have struggled to get critical mass for a Zoom on these things but I can reply here at least. Maybe people just don't want to hear from me ha ha!
My spouse is a citizen of the UK from Northern Ireland and we are interested in multiunit properties around $1M with at least a 12% return. Anyone know of any deals, especially in northern Ireland...Londonderry, Corleraine. Portrush, etc...
@Michael Green, not sure if you mean gross yields or some kind of total return? Highest gross yields in the UK right now are in the 7 pc range and this includes some areas with high rental arrears. With that high level of capital you may be able to stretch to higher yields though. I've observed more traffic on some of the facebook sites for UK property vs bp (for the moment at least). I suggest contacting estate agents in Northern Ireland to at least get a sense of market rates to then find out how to possibly access off market deals. You may also want to subscribe to the auction houses to get a sense of pricing. Some names that cover England at least are Allsop, Barnard Marcus and Barnett Ross. Some people I speak to say that availability of mortgage finance isn't great right now but I haven't tried to buy here in a while so can't advise better. Best wishes