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Prudential Enters The Home Rental Market

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http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/9970736/Prudential-enters-the-home-rental-market.html

Prupim, the property division of the Pru's asset management subsidiary M&G, bought the residential property portfolio from developer Berkeley in a £105.4m deal.

The homes – a mix of flats and houses – are due to be completed in June and will be managed by Savills, the upmarket estate agent.

Institutions have been put off investing in the housing sector in the past by high costs, but the Prupim believes this is changing.

Rents have been rising due to a shortage of affordable housing and the difficulties of would-be buyers to raise a deposit or meet lenders' toughened borrowing criteria.

..

Alex Jeffrey, the chief executive of Prupim, said: “The expanding residential rental property market, particularly in London and southern England, is gaining in appeal for institutional investors.

"We believe that returns from the sector – which have historically outpaced commercial real estate – will continue to be attractive as demand increases. We expect the supply and demand dynamics of the residential property market in London and the South East to remain favourable for investors, with continued strong demand for quality properties."

Catching a falling knife?

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  • 241 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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