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TODAY'S OTHER NEWS

Now is the time to target foreign investors, says growing portal

A growing free-to-list property portal says there's never been a better time for estate agents to target foreign investors.

Residential People, which, along with sister site Commercial People, has 900,000 global listings, says foreign investment could be key as Brexit uncertainty continues to rumble on in Westminster.

The site, which operates in the UK, as well as the United Arab Emirates, India and South Africa, reports 'encouraging signs' from user activity, indicating a renewed interest in UK property from overseas investors.

As sterling's value continues to underperform, the portal says there is strong appetite to invest in UK property with a rising number of enquiries registered from interested buyers.

Residential People reports that the majority of activity is focused on the prime markets of major UK cities London, Manchester and Birmingham.

"International investors see London as a safe haven for their capital," says Christopher May, director of Residential People and Commercial People.

"The weakness of sterling has made buying UK property a lot more attractive, and we are seeing a considerable amount of traffic coming from the EMEA region."

"In addition to this, we are also in dialogue with most of the big developers in the Europe, Middle East and Africa (EMEA) region who are now setting up offices in London, as they feel that they can easily sell to their existing customers looking to buy in the UK," adds May.

Residential People, which launched earlier this year, is looking to expand its operations further in the coming months with planned launches in Qatar, Bahrain, Kuwait and Egypt.

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