During the recent visit to the UK, US President announced to invest 150 million pounds in Maine estate to build 450 bedroom 5-star hotels, houses, holiday cottages, and golf resorts. The plan has been submitted to the Aberdeenshire Council to build 500 homes and lavish five-star hotels in the initial phase. One of the largest alternative asset management companies of the UK is investing in warehouses in many cities targeting the growth in online business. Warehouse rents keep growing and the rental forecasts are expected to grow, even for smaller warehouses. Korean asset management firm KKR – warehouse retailer invested US$229.90 million in shopping park in the UK, Black Country, Birmingham, from a US seller in July 2018.
Sydney and Paris have been ranked the best cities for owning a holiday home, followed by St Lucia, Dubai and Greece city, Santorini by Hitachi Personal Finance and Airbnb. In the Middle East, Dubai is one of the most expensive cities, in terms of short term rentals that offer world-class facilities and four-star or higher stars hotels. In January 2017, the rate in Dubai was high to $226, which is the fifth most expensive for short term residence as per Bloomberg (BWACI) where the rentals for a night can be more than New York, London, Sydney, and Amsterdam - go beyond $200. Other Middle-East expensive cities, in terms of, short-term residence are Kuwait and Riyadh. Santorini is one of the leading profitable places for owning a holiday home, whereas, in the UK, Bath provides rental of more than 2,000 pounds a month as per the report.
Manchester is one of the key cities offering attractive investment in holiday homes. The latest figures released by the Office for National Statistics finds the number of tourists increased in the year 2017 where the travelers are giving up to £670 million in Manchester, and the city in second place in Birmingham. In 2017, overseas investors visitors’ number was 10 percent more than a year before. Most of the visitors are from Europe and a significant number from North America. The place is also visited by Chinese visitors and tourists from Hong Kong. The airport, its football clubs, and the musical heritage attract tourists to the city. As per the current asking price, the property in Edinburg is sold for at least 17 percent more asking price.
UK cities for offices
The new office spaces in London are being offered for short term lease where startups can either expand or terminate agreement anytime without many legal issues. North-East of Scotland is also a famous tourist location which can provide profitable properties with the average rents more than 1,500 pounds a month. Oxford is 2nd, London 4th and Edinburgh has been ranked 6th in the list.
Holiday home business is booming in Scotland in the UK, where Inverness has been named as one of the leading destinations for owning a holiday home, and the government is planning to introduce a bill to impose restrictions on converting houses to holiday homes.
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