2021 will be a promising year for the UK property market

With demand stifled after the lockdown and the news of a Covid-19 vaccine, the UK property market should expect a promising start to 2021, predicted property developer GRE Assets.

With offices in the UK, Spain, and the Middle East, GRE Assets has an international perspective on the impact the global Covid-19 crisis has had on the UK property market.

“Many people are looking forward to buying a property.”

Michael El-Kassir, Managing Director of GRE Assets, explains what the company has experienced in the second half of 2020 and how he believes this will inform the market as we approach 2021.

He said: “With the closing restrictions imposed, which means that people have spent much more time at home this year, we believe this has led to a notable increase in the number of people who are seriously considering their next property move. Low-interest rates, the existing Buying Aid scheme, and stamp duty incentives have also created a sense of urgency.”

“The pandemic has been a wake-up call for prospective buyers and renters, who have reassessed their priorities when looking for their next home. Not only are they encouraged to make the leap from London, but they also recognize the importance of having access to green spaces, be it parks, balconies, terraces, and gardens nearby.”

“The world of work has also undergone a big change, as employees and companies have adapted to working from home. While people will return to the office as the latest restrictions are eased, we strongly believe that businesses will continue to work flexibly to move forward, meaning that adaptable space and home connectivity are of great importance to newcomers owners.”

El-Kassir said the southeast is the region to watch in 2021.

He added: “With the constraints experienced in the housing market earlier this year, we saw an increase in demand and a lack of supply after closing. While across the UK, we have seen an increase in housing prices and activity, it is the South East that really stands out.”

“The region offers the near-perfect package of high-quality, affordable housing in popular regeneration areas with excellent connectivity to London.”

“Demand here currently exceeds supply, which is something we plan to continue to address as we move into 2021.”

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