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01/12/2009
Residential property lawyers may be best tip for investors |
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Those looking to invest in UK property for the medium to long term should look to the residential sector, it has been suggested.
Editor at Property Investor News Richard Bowser said that this form of property is the best investment at present, although he also noted that the commercial sector will have good prospects as the economy recovers.
This would mean engaging the services of property lawyers for homes and not offices or industrial premises.
Low interest rates mean that putting assets in a bank is a bad idea, but homes are a good move for the same reason, Mr Bowser remarked.
"Therefore the attractiveness of residential property as an investment - if you pick the right property in the right place at the right time - is obvious for someone that takes a medium-term view", Mr Bowser added.
However, such investments should be taken up over a period of five to seven years, he stated, as the short-term economic prospects are not promising.
According to a report by Barclays Wealth and the Economist Intelligence Unit this week, 35 per cent of wealthy investors intend to increase their property portfolios in the next two years, more than double the number looking to reduce their assets.
Written by Anna Norton
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