News: Asian buyers flock to UK student accomodation market
By Andrew Batt:
A luxury student accommodation investment in the United Kingdom has sold all 106 units within just six weeks of launch – with buyers from Singapore and Hong Kong snapping up units in large numbers.
Falkland House (pictured) in Liverpool city centre, the first joint venture project from developer Pinnacle MC Global, is the latest student project from the UK that has attracted strong interest from Asian buyers and investors.
The purpose-built accommodation offered purchasers the chance to invest in the lucrative and secure student market with a product that offered an assured five-year yield of 9.4 percent.
Student accommodation in the UK has thrived over the past two years, rapidly outpacing the conventional property market. The fast growth and investment strength has been so prolific that in January 2012 The Times ranked student accommodation as the top asset class in the UK’s property market.
Julie Harvey, a Director of Pinnacle, said: "The student accommodation market is proving immensely popular at present, particularly in Hong Kong and Singapore. The offer of a completely hands off investment within a proven market was too good an opportunity for savvy investors to miss."
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email firstname.lastname@example.org