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It’s common knowledge – I hope – that a new airport coming in, or well-publicised, significant improvements to an existing one, help property prices in the area. How far do you want to drive once you’ve landed on holiday? 30 minutes? 45? That’s the area of impact.
We note this week that there are plans to upgrade Gazipasa Airport which is located 30 minutes east of Alanya in Turkey – improved infrastructure, more flights etc. As such, there may – may – be some knock-on effects. This is just a heads-up, we are taking a closer look not only at Alanya but also at the nearby resorts of Side and Belek. We welcome feedback if you are active here.
I spent a pleasant afternoon in London this week with five investors who are looking to buy there; we visited hotspots and one or two projects. There is still upside here in the short-term. According to estate agents Haart, the average London property price has now reached £501,056.
‘London home owners will be forgiven for being astonished that they have seen an average £100,000 increase in equity over the last 12 months. In spite of London property prices breaking new records of over £500,000, up 9.4 per cent annually, buyers are still coming to the market in numbers greater than last year.’
‘The way to put the brakes on price growth is to increase supply, but in London we have only seen new property instructions rise 0.2 per cent annually and new properties for sale across the UK as a whole are down 1.7 per cent. Home owners can help break this cycle by putting their property for sale before finding somewhere themselves thus freeing up supply.’ We have another get-together in London next month; that’s already full (we only take six at a time) but we can offer feedback to members and there will be another in July and then September (I am in the US for August).
Our friends at OPP Connect report that a new HSR rail link from Singapore to Malaysia will ‘boost property values near the route of the line.’ The High-Speed Rail (HSR) line is due to complete in 2020 and cut the journey time from Singapore to Kuala Lumpur from six hours to 90 minutes.
Having done some due diligence on this, it’s fair to state that it – or at least the exact route – is not yet finalised so it is something of a ‘one to watch’ right now. We are keeping an eye on developments. Do let us know if you are interested in these markets; we have a relatively strong set of contacts there.
All for today, see you on Friday.