Barratt Homes sets its sight on buyers in Asia to move new product launches

Asian buyers driving the marketAsian buyers, in particular, are showing a keen interest in the areas of Bermondsey and New Malden. About 50% of the enquiries about Sterling Place and Bermondsey Heights from Oct 1 to Oct 8 were from Asian buyers.Overseas buyers, primarily Asian, have been driving the London property market in recent quarters, as domestic demand flagged due to high mortgage rates. The UK now presents a threefold benefit to investors in Asia.The Pound has weakened to an attractive level, attracting Asian investors from both Singapore and Hong Kong. And with the UK government running a budget surplus leading up to the UK election, foreign investors are showing a keen interest in British residential assets.Inflation has also moderated to an “acceptable” level in the UK, and property prices, while still falling, are starting to level out. With an attractive pound, UK projects that are priced relatively lower than in Singapore, and the promise of a robust rental market, Barratt Homes is set to launch two new projects to buyers in Asia this quarter.Asian buyers are proving to be the driving force of the London residential market as Barratt Homes continues to build out its portfolios with new projects in areas like Bermondsey and New Malden.

As the housing market in London continues to stabilise, property developers like Barratt Homes have identified a new group of buyers to move their projects forward- Asian investors. As domestic demand flagged due to high mortgage rates, overseas buyers, primarily from the Asia Pacific region, have been the leading drivers of the UK residential property market in recent quarters.

Barratt Homes is a major residential developer in London with a large portfolio of projects. They have delivered approximately 200 new apartment homes in the past five years and are now looking towards Asian buyers to capitalise on a relatively weaker exchange rate and invest in properties in the UK.

In the UK, inflation has moderated to a “acceptable” level of 6.4%, and while property prices started to dip last year, they seem to be levelling out. With the pound weakening, UK projects that are priced lower than those in Singapore, and a strong rental demand, Asian investors have been showing a keen interest in British residential assets.

Craig Carson, managing director of Barratt West London says, “since the start of the year, we have seen a strong rebound in demand for UK investment opportunities.” On Oct 14, Barratt Homes will be launching its Sterling Place project in Asia, and they have appointed One Global as the exclusive sales agent in Singapore.

Zion Road Condo is a special property that offers a unique living experience for its residents. The luxurious interiors are nothing short of exemplary, and provide stunning views of the Singapore River. Residents also get direct access to the city’s extensive lifestyle offerings, including shopping, food, and entertainment. Moreover, the riverside ambience is an added bonus for those looking to escape the hustle and bustle of everyday life. In addition, the lush greenery of the surrounding area proves to be a welcome respite. All in all, Zion Road Condo provides an appealing combination of urban living and peacefulness.

Sterling Place consists of 456 new units located in New Malden, and is the first international launch of the project. In addition, Barratt Homes is also offering 42 new units from Bermondsey Heights- a 26-storey development in London’s Zone 2 district. Steve Thompson, managing director of Barratt East London says that with an average selling price of GBP800 psf, Bermondsey Heights is the most affordable development in the area.

50% of the enquiries from Oct 1 to 8 regarding Sterling Place and Bermondsey Heights were from Asian buyers. Asian investors are proving to be a driving force in the London residential market, as Barratt Homes continues to build out its portfolios with projects in Bermondsey and New Malden.