JLL Sub Saharan Africa (JLL SSA), the real estate investment and advisory firm, is launching EMEA Residential, to advise South African investors about buying residential properties in the UK.
The new service line is focused on the buy-to-let market in London. With local investors looking for a haven to diversify their investments, the new division was a topical addition to JLL SSA, said MD Craig Hean. “International investment property has become attractive as an alternative to our currency instability and we see good growth in this area.”
According to research house Savills UK, London residential property has been the best performing asset class in the UK for the past 20 years, with prime property values in the central London area growing 600% in the period. “This, coupled with the fact that prices relative to the average London income are a significant barrier to entry, ensures the buy-to-let market presents strong returns,” said associate director of EMEA Residential SSA, Gareth Katz.
Prices are expected to fall as the Brexit process unfolds.