Around 73 percent of investors from Saudi Arabia are considering lucrative opportunities in UK real estate, highlighting the country’s status as a premier global destination, according to a survey.
Driven by increasing affordability in the market, GCC investment projects are set to reach $3.2B by 2024, with Saudi investors continuing to view the UK as a highly attractive investment destination, as revealed in a survey by Select Property, a leading UK-based property developer and investment partner.
The study highlighted that the GCC has significantly contributed to this trend by recognising the extensive potential of UK property as a means of portfolio diversification.
Over the past decade, annual GCC investments in UK property have averaged $3.4B, driven by strong demand, reliable investment returns, substantial rental growth, and a diverse asset portfolio, Select Property noted.
Adam Price, CEO of Select Property, stated that 75 percent of Saudi investors prefer cities such as Manchester and Birmingham, renowned as prime investment locations within the UK.
The study projected price growth in these cities to exceed 19 percent.
The UK property market continues to attract discerning GCC investors as a proven diversification strategy.
“GCC investors increasingly view the UK as an appealing investment hub,” Price remarked.
“Our survey indicates that 73 percent of Saudi investors have considered investing in UK real estate, particularly in Manchester and Birmingham,” he added, emphasising the compelling opportunities offered by these cities in terms of price appreciation and rental yields.
According to the survey findings, 65 percent of investors prioritise real estate as their preferred investment avenue.
Additionally, nearly nine out of ten (90 percent) Saudi investors regard the UK as their primary investment destination, with 85 percent expressing growing confidence in the country’s real estate sector.
Price noted a notable surge in investor interest following the recent introduction of the Electronic Travel Authorisation, further underlining the crucial role of GCC investors in bolstering the resilience and attractiveness of the UK real estate market.
