Although the UK has left the EU, it is still an important member of many agreements with it. Due to this, demand for new housing in the UK from foreign investors remains.
Features of buying new real estate from British developers
Buying real estate in the UK from a developer gives not only the right of ownership, but also a number of advantages:
- All new buildings in the UK are built in accordance with British quality and environmental standards, with adjustments for local features, such as high humidity.
- Many British developers offer flexible payment plans with the possibility of instalments until the end of construction of the property with the payment divided into several parts.
- New housing in the UK is covered by guarantees for a period of 5 to 10 years. They allow you to receive assistance in identifying any defects and compensation if they cause damage to the property.
- New build properties are steadily rising in price, not because the British Isles are popular with tourists, but because the country attracts foreigners from all over the world.
Prices for property in new build properties in the UK
UK new build prices are vary widely, and even the average values do not correlate with the actual sale price in different regions:
- Studio flats or small apartments up to 50 m² cost on average from £180,000 to £350,000 (from £3,600 to £7,000 per sq. m).
- One- or two-bedroom apartments (from 50 to 90 m²) will cost from £250,000 to £600,000 (£4,000–£6,700 per sq. m).
- Spacious apartments and penthouses in prestigious areas of London and other major cities can cost from £800,000 and up (£9,000–£15,000 per sq.m.).
Popular cities in the for buying UK property from a developer
The most popular city where construction and purchase of new housing in the UK is actively underway is London. Here you can buy property both for personal use and for investment with a high return (from £8,000 per sq.m. in remote areas to £20,000 per sq.m. in prestigious central locations).
The second most popular city is Manchester. It is actively developing, attracting students and highly qualified specialists. Average prices in new buildings in Manchester are from £4,500 to £7,500 per sq.m.
Birmingham is also becoming popular among real estate investors due to large-scale urban renewal and economic growth. New buildings here are relatively inexpensive - from £4,000 to £6,000 per sq. m, but with an attractive prospect of price growth.
One of the most affordable and attractive cities for investment is Liverpool. There is active construction, mainly in the central areas and near universities. The average price for new housing is from £3,500 to £5,500 per sq. m.
The capital of Scotland, Edinburgh, is interesting for connoisseurs of the historical charm of the city and the local mountain climate. Prices start from £4,500 per sq. m and reach £8,000 per sq. m in central locations.
