Three Reasons You Won't Want To Buy A Property In The UK
The United Kingdom and London especially has long been a magnet for foreign investment in business, industry and property. With the economic woes of the EU countries, the UK property market has received a boost from foreign investors, from Greece, Spain and Italy wanting to invest in a non-EU economy. But, would you want to own a property in the UK?
1. The Weather
2012 has seen the worst summer weather for a hundred years with torrential rain and flooding in many parts of the country with low average temperatures and a bare minimum of sunshine. A large number of the natives fled the country on 2-week holidays to sunnier climes. The last 3 or 4 Winters have been severe making many wonder if the UK's temperate climate is a thing for past.
2. Cost Of Living
A quick search online reveals the difference between day to day living expense between the UK and Thailand. A bottle of water at $1.45 is 389% more expensive. A beer is only 74% more expensive. If you want to pay for an inexpensive meal, be prepared to pay an extra 687%! Need to travel home by cab? Expect to pay 1,651% more in London than you would in Bangkok.
3. Cost Of Property
Prices in the UK have continued to grow; mostly in London and the South-East corner of the country with an average property price being £162,900 or $262,643. A minimal annual change of 0.3% upward over the last year disguises the fact that London has had a mini boom while as much as the rest of the UK has remained stationary or even reduced. $262,000 will buy a modest one-bedroom apartment in a less fashionable district of London. Yet, people will continue to purchase property in the UK. Perhaps because of its robust legal system, its relatively stable currency and political situation and it is still considered by many to be the financial centre of the world. If only it were possible to commute! Author: This content was originally written by Tom Cranenburgh at GetAnOffer. They are quick sale estate agency specialists