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Higher demand for quality housing and new buildings is rapidly driving Manchester’s profile as an attractive investment destination among international property investors.
With too many buyers eyeing the limited number of housing, the city is witnessing a real estate boom of sorts, according to HMG Properties, a leading international player which has a presence in the UAE and deals in international properties located in United Kingdom, United States and Spain. Already, investors from GCC countries are lining up to snap up attractive property options in Manchester, it added.
A House Price Index conducted earlier this year by Nationwide, the UK’s second biggest mortgage company, showed that home prices in Manchester rocketed by 21% last year– thefastest than anywhere else in the country – incomparison to London which grew only 14.9% and Brighton which reported 12% growth. The index showed that the average price for a house in the Manchester stood at around £209,000 (approximately AED1.2 million).
Describing the rising trend as “phenomenal”, Raed Bourjass, CEO of HMG Properties, said: “Over the past decades, Manchester has emerged as the second-most important city in the United Kingdom in terms of economic importance and financial activities, after London. In fact, a growing number of British expatriates living in the GCC region and international investors are keen to add Manchester to their investment portfolio.”
Bourjass pointed out that universities and colleges in Manchester also attract a large number of international students, along with international business persons and GCC travellers. “Property prices are expected to witness a further jump with the upcoming implementation of the HS2 Project, the planned high-speed rail link that aims to cut down the travel time between Manchester and London to just over an hour,” he said.
This month, HMG Properties launched ’Commuters House’ in Manchester, under the slogan ‘The Perfect Deal to Rent and Invest’, offering UK and international investors the opportunity to invest in this prime residential property. The new project consists of 196 luxury apartments with a mix of one-, two- and three-bedroom units that overlook the northern quarter of the city and the urban skyline of Manchester.
Commuters House is centrally located in the premium district in the city, near the popular Victoria Metro Station, and minutes away from Manchester United Stadium and Salford Quays, which houses the largest media city in Europe.
The lessee’s ownership of the property is up to 999 years, with yearly net rental income of 7% yield guaranteed for two years, Bourjass explained. He added that the launch of Commuters House will further excite real estate speculators in the GCC, particularly from Saudi Arabia and the UAE, who consider Manchester and its neighbouring cities as a hotbed for investment.
The Commuters House apartments are designed with luxury touches along with state-of-the art security, parking and indoor facilities. All apartments of the project have an electronic entry system, gym, indoor parking while the kitchens are fully equipped with the latest appliances and electronic devices.
HMG Properties is a leading real estate group locally, regionally and internationally. It provides residential and investment and development services in the United States, United Kingdom and Spain. The group provides a full range of services for land registration, delivery of the ownership documents and legal papers professionally and safely at the office of the country where the purchase and sale process is accomplished.
For more information about HMG Properties and Commuters House, please visit www.hmgproperties.com
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