How do we keep investors interested in UK property?
The obvious way (and arguably least likely to happen) to encourage investment is through reducing property taxes and business rates therefore making property a more affordable investment option. I think property is a more attractive investment than that of say bonds and gilts due to the tangibility of property and the fact that to a certain extent an investor can have an impact on the performance of a property. In terms of keeping investors interested in UK property I believe that Great Britain is unique in that many cities throughout the regions are gifted with rich architectural history, which are largely surrounded by greenbelt land. For example, my home city of Chester, which is Roman walled and one of the ten heritage cities within the UK, is praised for having architecture and buildings stemming from the Roman ages through to Medieval times, on to the Victorian era and has now been adapted to the 21st Century. The significance here is that a property investor has the opportunity to invest into a piece of history, and a building which bleeds character within a city with an extremely strong retail offering and occupational take up. The history of Chester has resulted in its key tourism trade and due to the surrounding greenbelt land, any proposed development is carefully considered to ensure it encompasses the architectural past of the city. There are very few modern buildings within the Roman walls of Chester and this makes investing within the city an interesting and varied process, which I feel is a selling point and a good reason to invest in its property. The other important factor which is highlighted through the heritage cities is that it could encourage further investment in surrounding areas and thus regions outside of London and the South West, improving the desirability of the Northern regions of country. Obviously this element of attracting investment is limited but it could be one of many factors which begins to reduce the north/south divide of the UK.
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