PR O P E R T Y
A TE N A N T ’S MA R K E T
With the UK sales market suff ering from the eff ects of the recession, increasing numbers of frustrated
vendors are looking to rent their properties for a year or two until the market recovers, writes Nic Madan.
his infl ux of property, in addition to the usual than normal to entertain requests and “wish lists” with
T
stock of corporate and private landlords, has led to regards to décor and other points in order to secure a good
the rental market becoming saturated with large quality tenant.
numbers of properties. When coupled with the reduction
in the volume of expatriate personnel being moved to the An additional benefi t is the current comparative
UK in the fi nancial services and banking sectors, it is easy weakness of Sterling against both the US Dollar and the
to understand why rents are being driven down. Euro. As both currencies are at their strongest against the
pound for many a year, it has become relatively inexpensive
Consequently, the opportunities for those expatriates for expatriate tenants to relocate to the UK and Europe.
that are relocating to the UK, and those that can take the Not only are rents cheaper than ever, but the additional
opportunity to move, are tremendous. Not only can one saving on the exchange rate makes moving to the UK an
fi nd a greater array of property at a cheaper rent than in extremely attractive prospect indeed.
recent years, but experienced landlords are more willing WOOD
JOHN D
52 EX P A T R I A T E
Property.indd 52 6/12/2009 12:52:39 AM
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