Buy to let investors in prime property 'to see recovery'

09 July 2010

Written by Simon Whittaker

Buy to let investors who own or are seeking prime properties may see a recovery in the sector as assets worth £1 million or over have increased in number, according to one piece of research.

A study commissioned by Santander Mortgages has found that this trend is particularly true in Greater London.

Over 100,000 new property millionaires have emerged since the turn of the millennium - a 393 per cent rise in the number of assets in this price band over ten years, the survey revealed.

Around 78 per cent of the homes are located in the capital, especially in the SW post code, which accounts for nearly a third of all assets valued at £1 million or over in the UK.

Despite a 29 per cent decrease in millionaire properties during the credit crunch, with 43,000 dropping the status between 2008 and 2009, the market appears to be recovering, with 131,996 residential houses now in the price band.

This follows other encouraging news regarding the potential health of portfolio values, as the commercial real estate sector is also expected to see increases in worth, with Robert Hacking-Brain, one of the managers of a new investment fund investing in the assets, describing the industry as "recession-proof" in London.

Why not take a look at our best Buy to Let mortgages and make an enquiry online now.