Foreign investors increase demand for property managers in London

It is estimated that foreign property investors snapped up around 80 percent of Thameside development properties in 2014. London is in the midst of a property value explosion, and wealthy investors from abroad are taking advantage. This phenomenon is expected to fuel yet more house price rises in the future, but it is also fuelling a demand for property managers in London.

The demand for property managers in London is on the rise

Rich investors from the Middle East, China and Russia are buying newly built apartments, town houses and penthouses before they are being made available to the general public. While some are simply selling them on within a few weeks – a process known as flipping – others are deciding to hold onto them and earn a steady rental income. This growing trend has led to a sudden rise in the number of property managements jobs in London.

Construction firms simply can’t keep up with the demand for residential property in the capital. The supply of new properties isn’t keeping up with demand, which is fuelling yet more house price growth – and so the cycle of spiralling property values continues. As long as this situation remains, the influx of foreign investors will only get bigger.

A property buying frenzy in central London

The extent of this incredible phenomenon was demonstrated recently when flats in the new Maine Tower, Canary Wharf went up for sale. Such was the interest from China, the sales suite contained property details in both English and Chinese. Although the tower isn’t expected to open until 2019, all of the flats for sale (which started at £350,000 for a studio apartment) sold out within four hours. More than half the buyers came from overseas, and many admitted that they hadn’t even seen the plot.

Another development in Park Drive, London attracted enormous interest from Taiwan in particular. Investors queued for more than 24 hours to ensure they were able to secure an apartment in the complex. Of course, all the flats sold out within hours, and yet another new residential development in London was completely paid for before the first construction workers arrived on site.

Access property management jobs in London with Marcus George Recruitment

Marcus George Recruitment has many property management jobs in London as a result of the huge influx of foreign property investors in the city. We work with estate agents, property management companies and investment firms throughout London, and they’re looking for experienced property managers who have a passion for what they do.

Many of the property investors from abroad plan to manage either the sale or letting of their property from their own country, so the demand for property managers in London is expected to remain high for quite some time. Marcus George Recruitment is currently searching for ARLA qualified property managers with experience in managing exclusive properties for foreign investors. It is vital that investors have the peace of mind in knowing that their investment is in safe hands, so only the most experienced, trustworthy property managers need apply.

As land continues to be bought by developers in London, the number of foreign property investors buying residential property in the capital will continue to grow. If you’re a property manager, this is a great time to find employment opportunities in South East England.

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