Buy to let guru says residential property is safe

06 August 2010

Written by David Whittaker

Buy to let expert Andreas Panayiotou has stated that residential property is "very safe".

Speaking to the Mail on Sunday and This is Money, the private rental guru told portfolio investors to look for assets 30 per cent under their peak and place at least a 35 per cent deposit on them.

The expert's words may be taken seriously by many landlords as the 44-year-old businessman rightly predicted past trends in the market, the publications reported.

Contradicting economists' forecasts of a downturn in spring 2009, he bought back into property just before the industry rebounded, the news providers stated.

Additionally he feared a crash in 2006 and pulled out of the market just before a dramatic fall in property prices, the information sources noted.

Recommending investors buy into homes, he said: "It will be a good long term. There's a shortage of housing and developers have stopped building."

This comes after the Halifax House Price Index found that property values had increased by 0.6 per cent in July.

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