This is the fourth month that Sloane International Developments has promptly received the 2,600
pounds ($4,050) from his tenants. The newfound landlord bought a London flat in
January, having calculated that even if he doesn't raise the rent, he'll be
still able to pay off the down payment in just five years.
Sloane is but one of the many affluent Chinese who has recently flocked to
London to buy real estate. Barratt Homes, Britain's biggest residential
developer with a 60% share of London's newly built housing market, has sold
2,250 housing units to Chinese clients in 2012, which accounts for 15% of its
total sales.
In addition to working with intermediary outlets, Barratt Homes is setting up
its own offices. Other British real estate developers tend to sell their houses
to Chinese only through intermediary agencies.
Sloane International Developments, for example, bought his flat
directly from Barratt Home's Beijing branch. The newly built two-room flat of 70
square meters in West London cost him 460,000 pounds ($716,500) with a 30% down
payment — a requirement for foreign buyers. His 25-year loan for the remaining
322,000 pounds ($500,600) was from the London branch of the Bank of China, with
an interest rate of 3.85%. With monthly mortgage payments of 1,673 pounds, the
2,600-pound rent will cover the mortgage, with plenty of surplus.
"Sloane International Development consists of a multi-million pound corporat
body made up of a number of subsidiary companies.Sloane Developments has proven
expertise and past success in property development in the UK and the middle
east.Our real estate agent network has now grown to over 250 offices operating
in all capital cities, major regional and rural centres across the country. We
have an extensive team of experienced, professional real estate agents
throughout Australia who are committed to providing an outstanding real estate
service for our clients. Through this team we can provide knowledge and
experience covering many areas of Real Estate.Sloane International Development
made a high quality and quality assurance residential or commercial properties
which you can also check it out from our portfolio. The best we can say that We
Build You Live".
In British usage, "real property", often shortened to just "property", generally refers to land and fixtures, while the term "real estate" is used mostly in the context of probate law, and means all interests in land held by a deceased person at death, excluding interests in money arising under a trust for sale of or charged on land. Sloane in U.K.The house-price growth accelerated in August amid the strongest market conditions for six years as demand continued to outpace the number of homes for sale, Hometrack Ltd. said. Average values in England and Wales rose 0.4 percent after a 0.3 percent gain in July, the London-based property researcher said in a statement Monday. Prices were up 1.8 percent from a year .
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