Hamptons International showcases UK projects worth over Dhs1bn at The Collection in Dubai
Hamptons International is showcasing projects in the UK worth over Dhs1bn (more than £200m) at its annual property event, The Collection, in Dubai on May 21 and 22, 2014 at Radisson Blu Hotel, Downtown Dubai. Some 100 properties including a mix of resale properties and new developments are being highlighted at the event that offers investors in the UAE the opportunity to make informed property purchases in the UK.
All properties which form The Collection are situated in London and the south of the UK and are priced above Dhs1.5m (£250,000).
The Collection is a multi-stop global tour during which Hamptons International promotes the very best of its properties to an international audience. This year, The Collection was held in London and Hong Kong.
The Collection event in Dubai will showcase some of the most beautiful properties on offer in London and the South East of England to the UAE audience of both buy-to-let investors and owner occupiers. According to Government data in 2013, there has been 7% growth in the number of people from the Middle East living in the UK, highlighting the strong potential for demand from buyers from this region.
The number of online visitors from the UAE to the Hamptons International website also recorded a near 50% growth in 2013 compared to 2012, further underlining the growth interest for UK properties by UAE-based investors.
Fionnuala Earley, Residential Research Director at Hamptons International, said, “London is one of the world’s most desirable cities. Its architecture, history, traditions and cultural diversity set it apart from the other major capital cities it competes with. International buyers looking in the capital may be interested to hear that London has lost none of its cachet. It is still a magnet, particularly for young, educated people from home and abroad with official figures suggesting that the number of households will grow at one and a half times the rate expected in England. London’s thriving economy means more opportunities are opening up as the capital continues its long tradition of discovery and regeneration of new villages within its boundaries.”
Andrew Phillips, UK Regional Director at Hamptons International, added, “The Collection is an excellent opportunity for the team at Hamptons International to promote the best of British property to an international audience. The event has a track record in generating strong interest from prospective owner occupiers and investors alike whether they are looking for a quintessential country cottage, a sprawling city centre penthouse or a one bed investment property in an up and coming location.”
To promote the launch of The Collection, Hamptons International has produced a report called The Changing Face of London which provides an overview of London’s evolution as a global city. As part of the report, Hamptons International looked at specific areas in London to compare and contrast the performance of the local property markets.
Earley, said, “London has often been described as a city of villages, each with very different housing markets. For example, in 1995, prices in Wandsworth were just 96% of the London average. The area has since gone through a process of gentrification and prices have climbed to 120% of the London average today. In contrast, Westminster and Kensington and Chelsea have always been amongst the most expensive areas of London. Today, properties in these parts of the capital can cost an average of up to three times as much as the average London home.”
“One of the drivers of price rises in central London is the limited amount of stock which has seen demand shift to new areas, neighbouring the most expensive boroughs, as investors search for greater yield and higher potential capital growth. This has led to the increasing popularity of areas such as Hammersmith and Fulham and many more of central London’s peripheral boroughs which continues the theme of the evolution of London’s housing market,” Earley added.
For further information about The Collection event, please visit www.hamptons.co.uk/the-collection.
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