During the recent visit to UK, US President announced to invest 150 million pounds in Menie estate to build 450 bedroom 5-star hotels, houses, holiday cottages and golf resorts. The plan has been submitted to the Aberdeenshire Council to build 500 homes and lavish five star hotels at the start.
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'Holiday Homes and Warehouses Investment'
One of the largest alternative asset management companies of UK is investing in warehouses in many cities targeting the growth in online business. Warehouse rents keeps growing and the rental forecasts are expected to grow, even for smaller warehouses. Korean asset management firm KKR – warehouse retailer invested US$229.90 million in shopping park in UK, Black Country, Birmingham, from a US seller in July, 2018 .
Sydney and Paris have been ranked the best cities for owning a holiday home, followed by St Lucia, Dubai and Greece city, Santorini by Hitachi Personal Finance and Airbnb. In the Middle East, Dubai is one of the most expensive cities in term of short term rentals that offers world class facilities and four-star or higher stars hotels.
In January 2017, the rate in Dubai was high to $226, which is fifth most expensive for short term residence as per Bloomberg (BWACI) where the rentals for a night can be more than New York, London, Sydney and Amsterdam i.e. go beyond $200. Other Middle-East expensive cities, in terms of, short-term residence are Kuwait and Riyadh. Santorini is one of the leading profitable places for owning a holiday home, whereas, in UK, Bath provides a rental more than 2,000 pounds a month as per the report.
Manchester is one of the key cities offering attractive investment in holiday homes. The latest figures released by the Office for National Statistics finds the number of tourists increased in the year 2017 where the travelers are giving up to £670 million in Manchester, and the city in second place is Birmingham.
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In 2017, overseas visitors’ number was 10 per cent more than a year before. Most of the visitors are from Europe and a significant number from North America. The place is also visited by Chinese visitors and tourists from Hong Kong. The airport, its football clubs and the music heritage attracts tourists to the city. As per the current asking price, the property in Edinburg is sold for at least 17 per cent more asking price.
