Investors turn arrows to Manchester
Investors who see home values rising are turning their arrows into Manchester, which is rising. Sovereign wealth funds, international real estate funds and domestic investment funds are increasing their presence in the city, Mansion Global reported.
According to Cushman & Wakefield, the city has about 49,000 new homes in the pipeline, of which 19,000 are under construction. Mapletree Investments ‘As one of the (U.K.’s) largest financial centers outside London, Manchester has the ability to attract top grade companies and financial institutions.’ said.
Added ‘In addition, as one of the top destinations for local and international students in the U.K., the student housing market in Manchester is expected to remain as a resilient asset class.’
Julian Cotton, an associate director on Cushman & Wakefield’s Manchester New Homes team, commented “Capital values are very different to London… where the perception is that prices get so great that actually the market begins to stagnate a little. I don’t think we’re going to see that; I think we’re going to see fairly consistent growth over the next 10 years in Manchester.”
Source: The Real Deal
Melike Vodina / realestatecoulisse.com