Barratt Homes sets its sight on buyers in Asia to move new product launches
A re-calibrated property market in UK to its stable point with magnificent real estate developers like Barratt Homes capturing market share among the Asian buyers to market their development in the pipeline. International buyers, mainly Asian, recently have been bulk of the sales behind the property market in London as local demand flagged due to increasing mortgage rates. Barratt Homes is a one of the superior real estate developers in London with successful track record of real estate fantastic portfolios. Over the last five years, an estimate 200 new apartment homes yielded and built have been delivered by the estate company. Barratt Homes cannot wait to spread their wings to Asia Pacific-based investors this year who are eager to capitalize and leverage on the competitive exchange rate to add on London properties to their existing portfolios. UK Overall inflation has vanished to an “acceptable” quantity of about 6.4 percent with justifiable balance pointing to a continuation downward trend, says Steve Thompson, found and partner of Barratt East London, a regional office of Barratt Homes. the UK real estate price however began to average out 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 crash. But we are at a point where prices are starting to become sensible,” 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 start 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 virgin project 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. Based on data compiled by 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 created a strong branding 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.
