Lockdown Eases, London Real Estate Thrives
Activities in the property market starts to pick up especially with the UK government's fresh investment and support grants for building projects.
As many countries ease lockdown, the UK economy begins to heal from the heavy blows taken earlier in the year due to COVID-19. Activities in the property market starts to pick up especially with the UK government's fresh investment and support grants for building projects.
Read also: Investing in the UK Real Estate Market
Consumers' "buying frenzy" in retail spending has also been seen in the real estate sector as they reassess their housing needs. In particular, England's stamp duty holiday has caused a surge in the number of transactions and real estate prices as all kinds of investors now jump on the bandwagon of buying opportunities.
What caught our eyes this week?
Demand for UK homes climbs after virus lockdown eases: Rightmove
The Business Times – Demand for homes has grown in Britain since businesses reopened in mid-May, said UK property website Rightmove, as consumers re-assess their housing needs after the government declare a stamp duty holiday for home buyers.
London vs Manchester: Where to snap up a post-lockdown property bargain?
Arabian Business – The UK’s revived post-lockdown property market presents a diverse range of opportunities for international investors, according to experts. Real estate agents up and down the country are reporting unexpectedly high levels of property buying and selling activities.
Read also: Manchester as an Investment Destination
Global commercial real estate markets feel impact of COVID-19
JLL – The impact of the COVID-19 pandemic is being felt in global real estate markets, with commercial real estate investment volumes falling across all three regions in the first half of the year.
Read also: Implications of COVID-19 Aftermath on Real Estate Sectors
UK plans S$1.7b in building projects to boost economy
The Business Times – Boris Johnson's government has announced that it will invest nearly 1.3 billion pounds (S$2.34 billion) in building projects and provide 2 billion pounds in energy efficiency grants in an effort to create jobs and boost the pandemic-hit UK economy.
How landlords are meeting office demand with plug-and-play suites
JLL – Landlords looking for fresh ways to attract tenants during the pandemic are trialling one particular tactic: make moving in easier. In a COVID-stricken economy, businesses are looking to avoid designing their own offices in order to save money and maintain agility as they adapt to office requirements amidst ongoing uncertainties.
Read also: An Analysis of COVID-19’s Impact on Office Real Estate Demand
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