Are Off Plan UK Luxury Homes and Real Estate a Good Property Investment?
While the real estate market in the UK has seen better times, there still is money to be made in the buying and selling of homes in the United Kingdom. Where can you make money you ask? Well, the luxury home real estate market looks to be a promising property investment in the UK in recent times. As luxury homes do cater to people who appreciate the “finer things” in life, buying and selling such a property is slightly different than the mainstream real estate market. Further, since these luxury investment properties are now more affordable, now may be the time to take advantage of some great investment opportunities.
Unless you have been sleeping under a rock, you are without a doubt aware that there is a slowdown in the UK real estate market.
That said, some luxury homes have sold for some pretty astounding prices this year. For instance, Off Plan Property reported just last month that the world’s most expensive property sold off plan in the prestigious St James region of London … for over 115 million pounds!
Even more recently, the Birmingham Post reported that a luxury concept home was sold off plan for approximately two million pounds near Lichfield - more specifically the house is located four miles from Lichfield and 15 miles from Birmingham. The house, itself, is an ultra modern one and it boasts of just over 4,375 square feet of living space.
Some of the impressive features in this house will include five bedrooms and five bathrooms, heated floors, an infinity pool, sliding panel windows, and an open fireplace.
The house is also eco friendly and will feature solar panels, heat exchange, geo-thermal heat pumps, and rainwater recovery. Further, all the timber used in the house will come from sustainable resources.
Why was this particular property investment so popular?
Apparently the uniqueness of the property and the attention to detail were the key selling points for this house.
“Once it is finished, I believe it will become a new landmark in the area,” said Miles Tydeman, a Lichfield selling agent - as told to the Birmingham News.
Further, this agent was also impressed that this property had very particular specifications. For instance, the fact that all of the teak wood should be from sustainable sources was one of the details that particularly impressed him.
What about luxury homes in general as a property investment?
Well, with prices lowering in the real estate market, now may well be the time to invest in luxury investment property.
Ben Stein, an actor, economist and lawyer, recently said the following about luxury real estate during a speech at a Luxury Real Estate Spring Retreat:
“Real estate is the only good which is both a consumption good and an investment good,” Stein noted. “Real estate is the best investment in the history of the world. Buy low and sell high, just like the stock market. Prices are low now, which means anybody who is smart will be investing now.”
All in all, if proper research is conducted beforehand (as it should be), the UK luxury real estate market looks to be like a promising property investment.
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