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FAQ

Frequently Asked Questions

Hasznos kérdések és válaszok, kategóriákra osztva. Tájékoztatást nyújtanak az ingatlanvásárlásról az Egyesült királyság

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Általános Információk


According to the International Monetary Fund (IMF), the British economy will expand at a rate of 2.9% in 2014, 0.4% more than reported last January. For 2015 the IMF indicates an increase in GDP of 2.5% compared to 2.2% estimated in January. This is the highest growth attributed to any country in the G7.





On average, in the United Kingdom real estate prices more than double every decade. Over the past 56 years, the value of real estate in the UK has decreased only three times in real terms (1971-1973, 1989-1992, 2008-2009); only six years out of fifty six.



 





Index house price in United Kingdom 2004 - 2014.

Indice Febbraio 2002=100



Fonte: Office For National Statistics House Price Index January 2014  http://www.ons.gov.uk/ons/rel/hpi/house-price-index/january-2014/stb-january-2014.html



According to the statistical bulletin of the Office for National Statistics (ONS) in January 2014: - Real estate prices in the UK rose by 6.8% in January 2014 compared to the previous year - Real estate prices rose by 7.1% in England, 6.9% in Wales, 1.4% in Scotland and 2.7% in Northern Ireland on an annual basis



To sustain the economy the british government ha announced a series of measures which have indirectly resulted in a further increase in real estate prices: - Help to Buy: Equity Loan www.helptobuy.org.uk/equity-loan/equity-loans - Help to Buy: Mortgage Guarantee www.helptobuy.org.uk/mortgage-guarantee/how-does-it-work - Shared ownership www.helptobuy.org.uk/other-housing-options/shared-ownership - NewBuy www.helptobuy.org.uk/other-housing-options/newbuy The government has also allocated £ 3 billion in emergency loans to the construction sector


www.gov.uk/affordable-home-ownership-schemes/help-to-buy-equity-loans

With a Help to Buy equity loan the Government lends you up to 20% of the cost of your new-build home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.You won’t be charged loan fees on the 20% loan for the first five years of owning your home.
hwww.gov.uk/affordable-home-ownership-schemes/help-to-buy-mortgage-guarantees

A mortgage supported by the Help to Buy: mortgage guarantee scheme works in exactly the same way as any other mortgage except that under the scheme the Government offers lenders the option to purchase a guarantee on mortgage loans. Because of this support, lenders taking part are able to offer home buyers more high-loan-to-value mortgages (80-95%).You will still be fully responsible for your mortgage repayments. So if you have a 5% deposit, you will need to take out and pay back a 95% mortgage.
www.gov.uk/affordable-home-ownership-schemes/shared-ownership-schemes

Shared ownership schemes (part buy/part rent) are provided through housing associations. You buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. You can buy bigger shares at a later stage when you can afford to.With shared ownership you can buy a newly built home or an existing one through resale programs from housing associations. You’ll need to take out a mortgage to pay for your share of the home’s purchase price, or fund this through your savings. Shared ownership properties are always leasehold and you can buy a home this way if:

- Your household earns £60,000 a year or less. In London this is higher: £66,000 a year for a home with one or two bedrooms, or £80,000 for family homes of three bedrooms or more
- You’re a first-time buyer (or you used to own a home, but can’t afford to buy one now)
www.gov.uk/affordable-home-ownership-schemes/help-to-buy-newbuy

NewBuy lets you buy a new-build home with a purchase price of up to £500,000 with a deposit of only 5%. To be eligible for NewBuy, your new home must be:

- Your main home (you can’t use NewBuy to buy a second home or a buy-to-let property)
- Owned fully by you (you can’t use NewBuy for shared ownership or Help to Buy: equity loan purchases)
- built by a builder taking part in the scheme

You don’t have to be a first-time buyer and there’s no limit on your level of income. But you can’t use NewBuy with any other publicly funded mortgage scheme.
www.gov.uk/right-to-buy-buying-your-council-home

If you are a council tenant with a least five years’ tenancy you might be eligible to buy your home at a significant discount. Some housing association tenants may also be eligible.

To check your eligibility and find out more visit:
- http://righttobuy.communities.gov.uk/
- www.helptobuy.org.uk/other-housing-options/right-to-buy#sthash.fLyQYp7b.dpuf


House-price-boom-ripples-out-of-London-across-Britain. - www.telegraph.co.uk/finance/personalfinance/houseprices/10756343/House-price-boom-ripples-out-of-London-across-Britain.html Londoners-spark-suburban-housing-boom. - www.telegraph.co.uk/finance/personalfinance/houseprices/10747197/Londoners-spark-suburban-housing-boom.html Britains-housing-gap-widens-london-prices-surge-business-live. - www.theguardian.com/business/2014/apr/02/britains-housing-gap-widens-london-prices-surge-business-live Houses in central London, are now worth six times the average price of properties in parts of the North. - www.mirror.co.uk/news/uk-news/homes-central-london-now-worth-3341958#ixzz2yUu6Wjgx House prices to soar again as pension changes fuel increase of 30%. - www.express.co.uk/life-style/property/466240/Pensions-change-in-Budget-announcement-create-silver-investors-army Record rise in house prices. - www.express.co.uk/news/property/462452/Record-rise-in-house-prices-No-signs-of-a-cooling-market Homes 'earn' Londoners more than their jobs as house prices. - www.standard.co.uk/news/london/homes-earn-londoners-more-than-their-jobs-as-house-prices-soar-9058704.html Eight buyers for every house for sale; prices rise £ 50,000 per month. - www.dailymail.co.uk/news/article-2586619/Its-housing-hysteria-Eight-buyers-chasing-home-prices-50-000-month-property-market-reaching-new-levels-insanity.html#ixzz2yUwrhH2L Experts say that House prices are set to rise to 35% by 2020. - www.dailymail.co.uk/money/mortgageshome/article-2601448/Mortgage-lending-time-buyers-jumps-41-February.html#ixzz2yUxJoHOC


Property finder service


Buying Agents act in the interest of the buyer, not the seller as they are paid buy the buyer. Estate Agents work on behalf of the seller and no matter how nice they appear, they are being paid a big commission by the seller and they will always try and achieve the best price and deal for the seller.



Buying Agents do all the work that estate agents don’t do and that would otherwise need to be done by the client. They will take time to explain everything in detail to the client and hold the clients hand through the whole purchase process, which is very useful if a client does not speak English very well, does not live in London, does not understand the mechanisms of the London property market or does not have the material time to devote to buying a property in London without the assistance of a professional.



25% of sales in the UK do not complete even after a price has been agreed by vendor and buyer! Property Finders minimise this risk for the buyer.



Buying Agents services include: – establishing property finding criteria, establishing client has funds and is in a buying position also assisting with mortgages, helping find the right properties, negotiating price and terms on behalf of the client, ensuring the sale process goes to completion in the least amount of time



Yes. Buying Agents connect clients to other professionals who can help with financing, conveyancing, surveys, decoration or building work, letting or property management, etc.



Buying Agents manage the search by speaking to many agents, private sellers and searching property portals some of which are not public.



Buying Agents filter out properties so clients view only the properties that meet the buying criteria. Buying Agents will visit properties before they take clients along, assess if the properties are actually suitable (as opposed to estate agents who just want to sell the property for the vendor), then give the client clear honest advice, accompanying the client on the viewing.  This means that clients only see 25% – 50% of the properties a buying Agent has viewed, saving time and resources for the client, rather than confusing the client with unsuitable properties.



Buying Agents have inside knowledge about the area, streets or buildings, or even about how to secure a property that will never be marketed.



Buying agents have negotiating tactics and skills and will handle all conversations on behalf of the client and advise on which approach is best. They have ability to influence real estate agents with respect to the seriousness of the offers proposed by the customer and the customer’s ability to purchase immediately. In a competitive property market like central London this is very important, as estate agents prefer to deal with professionals like themselves who know have qualified clients and have prepared clients to place serious offers.



Buying Agents won’t waste a client’s time as the majority of their remuneration is paid only on completion of a purchase and thus have all the interest to find a property quickly for the client and move onto the next client



Clients need to pay an upfront fee to cover initial costs of a buyer agent and more importantly to prove to any vendors estate agents, developers that the client is in a purchasing position and thus obtain the best deals on the market which otherwise would not be available through normal estate agency services



Buying Agents have access to “off market” or“pre market”properties or to new properties before they are openly marketed because they have strong relations with estate agents who respect the Buying Agent would only working for a serious buyer.  Estate Agents like property finders because as fellow professionals in property, neither has any interest in wasting the others time (for them it’s a job not a hobby!).



Buying Agents can secure you a home instead of another potential buyer, who may at first seem more attractive (like a cash buyer) due to their knowledge, experience, relations and most importantly because they have a clear mandate from a serious buyer.



Buying Agents will only fairly represent one buyer in each price category and area (if they have 2 buyers with a £1million to spend in Chelsea, they would have to pick a favourite, so they avoid having competing buyers).  Clients will have between 3 to 6 months of service in return for a retainer fee.  The commission paid can be saved in monetary terms when: Buying agents negotiate better than clients would Buying agents find a property that a client wouldn’t have otherwise seen Buying agents save clients time and effort.



Buying Agents charge a ‘retainer’, which can vary from £500 to a few thousand pounds upfront.  To ensure clients are serious and not a time-waster, the upfront payment guarantees their attention and hard work.  Once clients purchase a property through the buying agent they will charge between 1% and 2.5% of the property value.


Jogi és Pénzügyi Kérdések


Taxation and legal aspects of property purchases can be complex and subject to change. One should rely only on the advice of qualified individuals (such as lawyers, conveyancers or accountants).



Yes. These professionals are independent from OPISAS and will charge separate fees.



Rental income tax (rather than capital gains tax) applies to any profits from the sale of real estate in the UK.



Capital Gains Tax - 18% al 28% (Paid by the owner/seller of a property) Rental Income Tax - 20% al 45% (Paid by the owner/lessor of a property) Council Tax - £850-£2500 p.a. approx. (Paid by the resident, owner or tenant, of a property)



- Residential properties where all the residents are full-time students - Purpose Built Student Accommodation or university residences - Commercial real estate.


Land Registry Office Copies (£4-£8)
Just before completion, the conveyance or solicitor checks the vendor is still the registered owner of the property.

Bankruptcy Search (£2-£4) for purchases with mortgages.
Mortgage lenders will want confirmation that the buyer hasn’t recently gone bankrupt.

Local Authority Searches (£100-£200)
The costs vary from Borough to Borough.

Drainage Search (£30-£40) + VAT
This is to check the property has connection to fresh and foul water sewers.

Chancel Repair Liability Search (£10) + VAT
This is to check whether the buyer liable to pay a contribution to the upkeep of the local parish church.

Environmental Search (£30-£35) + VAT
Checks for evidence of contamination on (and round) the land being purchased.

Location Specific Local Searches (£40 - £250) + VAT
Checks for coal mining, limestone mining, Cheshire bring, China clay mining and tin mining may be required. As a rough rule of thumb, each additional search should cost no more than £40-£70.
The conveyancer is a professional who carries out activities similar to that of a notary, but it is not a state official. The conveyancer represents one or more parties to the sale and purchase of real estate and guarantees that the purchase of a property, and that the resulting transfer of ownership is completed successfully and according to the laws of England and Wales.
It is indifferent. In some cases, OPISAS recommend the use of a conveyancer and in other cases it is advise the use of a solicitor. The choice of legal advisor depends on the area where a property is located and on personal preferences.
Both professionals have the same knowledge of real estate law. Unlike solicitors however, conveyancers are normally only specialized in the field of real estate law and are regulated by the Council for Licensed Conveyancers (CLC) rather than by the Solicitors Regulation Authority (SRA). Conveyancer cannot give legal advice on matters not related to the purchase of a property. For example, conveyancers cannot provide advice on matters relating to family law, etc.
Yes. The firm of conveyancers, and everything the conveyance does as an employee of such firm, is regulated by the Council of Licensed Conveyancers and carries compulsory professional indemnity insurance cover.

A Vásárlás Folyamata


The offer OPISAS will get in touch with the seller’s estate agent and negotiate a purchase price for our client. Once the seller has accepted our client’s offer, the seller’s estate agent will write to confirm this. OPISAS will provide the seller’s estate agent your solicitor’s or conveyancer’s name and contact details and OPISAS will provide your conveyancer details of the property, the estate agent, and the sale price and of the mortgage lender if applicable. Once an offer has been accepted, the property might still be advertised as ‘sold subject to contract’ or ‘under offer’. This means there is an agreement to buy and sell a property, but the buyer or the seller could pull out without penalty. OPISAS will ask for the property to be taken off the market, but it’s only when contracts are exchanged that clients make a financial and legal commitment. Appraisals Legal - Conveyancing The legal work to transfer a property is called conveyancing. The conveyancer will arrange for clients to sign the mortgage deed and will carry out some checks for the lender, such as confirming that he or she is satisfied with the title to the property. The buyer’s conveyancer or solicitor will also liaise with the seller’s solicitor, with the mortgage lender and with the estate agent, and make sure clients understand the details. The conveyancer will get in touch with the seller’s solicitor to: • Check that everything is in order with the registered title • Get copies of any supplementary deeds that may contain restrictions • Get copies of any guarantees that benefit the property • Get copies of planning documents for the original construction if the property has been built recently, or for any extensions and structural alterations • Obtain a local authority search and searches covering any relevant environmental issues Most solicitors usually insist on the fee for searches being paid upfront Once all the research is finished, the conveyancer will send clients the pre-contract report. Buying a leasehold property Many apartments and some houses are leasehold properties. This means that the buyer ('leaseholder') acquires ownership of the property but not the land that remains of the 'freeholder' who charges an annual rent 'ground rent' (land rent) and 'service charges' for costs maintenance of the common parts of the building during a specified period 'lease'. At the end of the lease, the freeholder obtains ownership of the property but in practice the lease is extended well before the deadline and you also have the option to buy the title from the freeholder. Normally during the purchase of a leasehold property, buyers need to understand all the implications and obligations related to the lease, and the solicitor will have to do additional research. Preparation for the exchange of contracts Once the conveyancer has all the details, he or he will send clients a pre-contract report and a copy of the registered title. If clients are happy with everything, they will need to approve the contract by signing it. The exchange of contracts When the solicitor or conveyancer has the contract signed by the buyer and the seller's solicitor has the contract signed by the seller, the two solicitors are exchanging contracts. The buyer's solicitor will also transfer the deposit (money that the customer pays his l solicitor before the exchange of contracts) to the vendor's solicitor and set a date for completion, normally from Tuesday to Thursday. If the buyer changes his mind after this point, he loses the deposit. Preparing for the completion of the purchase Once contracts are exchanged the conveyancer or solicitor will make the final preparations for the completion of the sale. Land Registry The conveyancer will have sent clients a copy of registered title for the property at the start of the process. Now the conveyancer will do a final check to make sure that nothing has changed. 'Transfer deed' This is the document that records the client as the new legal landowner in the Land Registry. The conveyancer will prepare this before completion, and send it to the seller’s conveyancer. The solicitor will prepare this before completion, and send the vendor's solicitor. Transfers of money The conveyancer will also make the final arrangements for payment, including receiving the mortgage money for the client from the lender. Final accounts The conveyancer will prepare the final accounts for the client. These will include details of any further money needed from the client to complete i.e. the conveyancer will arrange for the mortgage money to be transferred to the seller's conveyancer on the agreed completion date, but the client will need to provide the difference – less the amount the client already paid as deposit.  Completion Day • The solicitor will transfer the payment to the seller. If the buyer has a mortgage, this money will have been sent from the lender to the buyer’s solicitor. • Once the full payment has been transferred, the buyer will receive the keys to the property and the solicitor will receive the transfer deed and originals of any other important documents. • The solicitor will complete a tax return to pay the stamp duty land tax, which the client will need to sign before they send it off. The solicitor will then arrange for the Land Registry to record the buyer as the owner and register the lender’s interest as a mortgagee (the buyer is the mortgagor).



STEP 1. The purchaser selects a unit and informs OPISAS with an email to italy@opisas.com.



STEP 2. OPISAS sends the client a reservation form and OPISAS bank details for the payment of a reservation and administration fee. If the client wishes to utilize the services of a conveyancer, OPISAS also sends the client the appropriate conveyancer client care pack to be compiled by the client and sent to the conveyancer via OPISAS; i.e. Terms of Engagement, Estimate of Charges (£500+VAT and disbursements = approximately £850.00) and Client Authority.



STEP 3. Within two working days from selecting the unit, the purchaser completes a Reservation Form for the desired unit and sends it to italy@opisas.com, together with either: - A copy of the directors’ passport/s and a copy of a utility bill or bank statement with the company address and dated within the last 3 months for purchases as a company structure or - A copy of the client’s passport and a copy of a utility bill or bank statement with home address (and dated within the last 3 months) for purchases as an individual.  If the client utilizes the services of a conveyancer the client will also send OPISAS compiled and signed Terms of Engagement, Estimate of Charges and Client Authority.



STEP 4. Within 2 working days from selecting the unit, the purchaser pays (or provides proof of payment) for £800.00 to OPISAS (£500.00 reservation fee which is deducted from the sale price and £300.00 non refundable and non deductible administration fee).



STEP 5. Upon receipt of £800.00, OPISAS shall: - Send copy of client passport, Reservation Form, Terms of Engagement, Estimate of Charges and Client Authority to the conveyancer if client utilizes the services of a conveyancer. - Pay the £500.00 reservation fee within 2 working days to the vendor, to secure the reservation of the desired unit.



STEP 6. The unit is officially reserved once vendor receives proof of payment of £500.00 by OPISAS and at this point the vendor issues a memo of sale within 2 working days from receipt of proof of payment. The memo is reviewed by OPISAS and approved within 2 working days from receipt; once the memo is approved, the seller’s lawyer issues within 2 working days from OPISAS approval a draft purchase agreement and sends it to OPISAS or to a licensed conveyancer if the client utilizes the services of the latter.



STEP 7. Within 7 working days of receiving copy of client passport, Reservation Form, Terms of Engagement, Estimate of Charges and Client Authority, the conveyancer carries out anti-money laundering checks on the client. Once the checks are finalized they will then send the bank details to the client and will authorizes payment of due fees (£500+VAT and disbursements = approximately £850.00). At this point the conveyancer also receives a draft purchase agreement from the solicitor acting on behalf of the vendor. Within 5 working days from receipt of draft purchase agreement, the conveyancer will then review the paperwork and send the client via OPISAS a detailed written pre-contract report as well as the purchase agreement. N.B. The fees and applicable paperwork (Terms of Engagement, Estimate of Charges and Client Authority) will need to be completed, paid and sent across to the conveyancer prior to the conveyancer issuing any contracts or reports to the client.



STEP 8. Contracts are signed and returned by the client via email to OPISAS (italy@opisas.com) normally within 5 working days from receipt of the contracts; this process might take longer if the client needs clarifications from the conveyancer. All contracts must be initialed at the bottom of each page and signed on the last pages. Hard copies are sent via courier to either the conveyancer or the vendor



STEP 9. The client should pay the balance of funds required to purchase the reserved property at the time of signing and returning the contracts via email and attach proof of payment in the same email. Payments for purchases that do not require services of a conveyancer are made directly to the vendor with electronic exchange of contracts within 2 working days. The vendor will send the client via OPISAS an electronic welcome pack. Payments for purchases that require services of a conveyancer are paid directly to the conveyancer, who will transfer the monies to the vendor on exchange of contracts, which would normally occur within 5 working days of receipt of funds from the client. An electronic version of the countersigned contract is then sent to the client via OPISAS. Should the client wish to inspect the property, meet the conveyancer and sign and exchange contracts at the conveyancer’s office, such balance of funds should clear in the conveyancer bank account by the time the client exchanges contracts.



STEP 10. Hard copy of the contracts are either provided to the client when exchanging contracts at the conveyancer’s office (subject to all funds due by the client being cleared) or are sent to the client either by the vendor or by the conveyance (if conveyancer services were utilized) within 15 working days from exchange of contracts. STEP 10. The property title is registered at the Land Registry normally within 8-12 weeks from completion.



These procedures will vary depending on the vendor and for illustration purposes an example purchase procedure is outlined below, however please check with your OPISAS agent to verify whether this procedure applies to the PBSA being purchased. STEP 1. The purchaser selects a unit and informs OPISAS with an email to italy@opisas.com. STEP 2. Within two working days from selecting the unit, the purchaser completes a Reservation Form for the desired unit and sends it to italy@opisas.com, together with the following documents: For purchases as a company structure - The company’s Certificate of Incorporation. - Articles of Association - Company Bank Statement providing evidence of funds necessary for the purchase - ID documents for all shareholders with 25% or more shareholding in the company For purchases as an individual  - A copy of the client’s passport - A copy of a utility bill/bank statement with home address dated within last 3 months STEP 3. Within two working days from selecting the unit, the purchaser pays (or provides proof of payment for) £3,300.00 to OPISAS to secure the reservation of the desired unit. OPISAS will forward payment of £3000 within two working days of receipt of funds to the vendor and the unit is now reserved! STEP 4. The client will receive a solicitor’s client care letter who will also send a purchase contract to the investor once the money laundering and ID checks have been done and client care letter has been signed and returned to the solicitor. STEP 5. Contracts are prepared and sent to the client within 5 working days of receiving the client care letter. STEP 6. Contracts are signed and returned by the client via email to OPISAS (italy@opisas.com) within 5 working days from receipt of the contracts. All contracts must be initialled at the bottom of each page and signed on the last pages. Hard copies are sent via courier to the vendor. STEP 7. Within 5 working days from receipt of the contracts the client also pays 50% of the purchase price or 80% of the purchase price. There are normally two payment options OPTION A - Payment of 50% of the purchase price less the £3000 reservation fee within 5 working days from receipt of the contracts - Stage Payment of 30% of the purchase price - Payment of the 20% balance on completion OPTION B - Payment of 80% of the purchase price less the £3000 reservation fee within 5 working days from receipt of the contracts - Payment of the 20% balance on completion STEP 8. Exchange of contracts occurs on completion. Purchaser will need to pay the 20% balance and approximately £1200 in closing costs which include legal fees, international client due diligence check, document fee, land registry unilateral notice registration fee, land registry title registration fee, land registry pre-completion searches, land charge search, company search, electronic identification verification) Upon completion Buyers will receive: 250 year lease Management agreement Occupational agreement to cover the management and income return STEP 9. Hard copy of the contracts are sent to the client within 15 working days. STEP 10. Title deeds are recorded immediately upon completion and can be downloaded after approximately 45 days for £1. Normally solicitors keep a hard copy although this can be sent to clients.


A Vásárlás Után / Ingatlankezelés

OPISAS’s London letting agent partners are a team of experienced property professionals therefore have an unsurpassed knowledge of all aspects of this business.
Acting for many landlords who are either abroad, or who do not have the time to be in direct contact with their tenants, OPISAS letting agent partners will deal with all aspects of letting and management, combining high levels of service and personal commitment with integrity and professionalism.
Full Management Service

This is the preferred service option for most landlords, as they do not need to be available to the tenant or deal with repairs or other problems, which may arise. Our partners will always seek landlord’s approval before incurring maintenance costs, other than minor expenses for routine repairs.

This service includes:
- Finding tenants
- Referencing tenants
- Moving tenants in
- Collecting the rent and accounting to landlord every month
- Dealing with all matters arising during the tenancy
- Arranging a renewal of tenancy or a moving-out, depending on the landlord’s requirements and the tenant’s intentions
- Synchronising a tenant’s moving out with finding and moving-in a new tenant, so as to minimise any void periods between lets and thereby maximise landlord’s income

Rent Collection Service

This service includes:
- Finding tenants
- Referencing tenants
- Moving tenants in
- Collecting the rent and accounting to landlord every month
- Arranging a renewal of tenancy or a moving-out, depending on the landlord’s requirements and the tenant’s intentions

The landlord does need to be available to the tenant, in order to deal with repairs and other matters that may occur. Only those landlords who both live nearby and can make themselves available to the tenant tend to opt for this service.

Letting Only Service

Letting only service includes:
- Finding tenants
- Referencing tenants
- Moving tenants in
- Arranging a renewal of tenancy or a moving-out, depending on the landlord’s wishes
- Receiving the first month’s rent and then arranging for the tenant to set up a standing order to pay the rent directly to the landlord

The landlord collects the rent after the first month and also deals with all maintenance issues.

Guaranteed income Service includes:

This service includes:
- Full Management Service + Guaranteed payment of a fixed amount to the buyer for a fixed period.


The income is guaranteed at the time of purchase with a contract for a period of up to ten years. Depending on which OPISAS provides the guarantee, this income can be assured further in the following ways: - With an account "escrow" where rent monies are deposited and paid at the end of each year to the purchaser for a period of ten years (hotel rooms and nursing homes); - With charges on the assets of the party that provides the guarantees for a period of between five and ten years (PBSAs); - Through agreements with companies which in turn have agreements with government agencies, which assure rents for periods up to three years if properties are let to individuals who are entitled to certain government subsidies. This option offers a lower profitability than the rent that one can earn on the open market.


Eladás

Because OPISAS has knowledge of the local real estate market through a dedicated team of real estate professionals as well as a personalized marketing in accordance with the requirements of sellers.
Normally between 2% and 3% of the sale price.

Student accommodation Investments


PBSA's are purpose-built accommodation for students distinguished from residential buildings not constructed for that purpose but used by students. PBSAs are normally located close to schools and universities and may offer services for students such as laundry, common areas, reception, lobby, bicycle parking; some luxurious buildings offer gymnasiums, saunas, swimming pools, steam rooms and many other services.


There is no precise definition but normally there are two categories:

- Pods or Bedrooms: are studios without kitchen and sometimes without bathroom, grouped around a central core (the kitchen area with or without TV)
- Studio or En-suite Rooms: are rooms with bathroom and kitchenette often grouped around a common area (television rooms and/or the main kitchen)


The market for student housing has increased dramatically during the last 10 years and now has a global market worth $ 200 billion. The growth was driven by an increase in the number of students around the world - from 98 million in 2000 to 165 million in 2011. Financial Times 03/02/2014 www.ft.com/cms/s/2/08bd773e-76dd-11e3-a253-00144feabdc0.html#axzz2yOaU2MPS



Yields of PBSAs were approximately 7.8% in 2013 and similar returns are expected in 2014. The number of students of British and European Union students is expected to increase during the next five years with an increase of 3% in 2014. Knight Frank September 2013 www.knightfrank.co.uk/resources/commercial/brochure/student_report_2013.pdf



Following a decrease in fees during the academic year 2012-13, returns of 9.3% are expected for 2013-14 with rents up 3.0% year on year due to improvement in demand. Savills July 2013 pdf.euro.savills.co.uk


Over the last two years, foreign investors have increased their market share in the PBSA sector from 23% in 2011 to 52% in 2013.


The academic year 2013/14 saw 495,600 candidates admitted to higher education courses, 30,700 (6.6%) more than in 2012/13, and the highest number of admissions recorded in any course of study. CBRE 07/02/2014 www.cbre.co.uk/uk-en/news_events/news_detail?p_id=16219





The UK is now the world's second largest destination for international students and its position has risen from 11% to 12% over the past 10 years as while the U.S. position has decreased from 28% to 20%.



The volume of incoming international students in the UK continues to grow and now accounts for one-sixth of the total population of students in the United Kingdom. International students are attracted to degree courses in English language and high quality students from some countries such as China are also attracted by a weak pound, which makes less expensive the cost of studying in the UK.




UK universities are becoming more commercially focussed and are evolving and continuously improving the degree programs to attract the best talent from abroad.
Investors in PBSAs purchase real estate investments sustained by global trends in the mobility of international students.

Hotel investments




- Since 2010, the tourism sector is the fastest growing in the UK in terms of employment - The tourism sector will be worth approximately £127 billion in 2013, accounting for 9% of UK GDP - The sector is expected to grow at an annual rate of 3.8% until 2025 - The UK has hotel room capacity for approximately 3.272 million people - In 2012, the occupancy rate for hotel accommodation in the UK was 66% (an increase of 2% from 2011) based on the "UK Occupancy Survey." Deloitte November 2013 www.visitbritain.org/insightsandstatistics/visitoreconomyfacts/index.aspx



Hotel investment sales in the first quarter of 2013 reached £1.9 billion nearly four times the value of £492 million obtained during the same period in 2012. Savills 17/04/2013 www.savills.co.uk/_news/newsitem.aspx?intSitePageId=72418&intNewsSitePageId=145597-0&intNewsMonth=04&intNewsYear=2013



32.9 million tourists visited the UK in 2013, representing an increase of 5.8% compared to 2012 and the highest figure since 2007. Consequently 2013 saw acceleration in the improvement of the UK hotel market, driven both by structural and macroeconomic improvements in the hotel market. BDO: Hotel Britain 2014



A recent poll by Ipsos MORI indicates high confidence in the UK economic outlook and also shows that the representatives of the hotel industry are much more confident of the prospects for the sector in 2014 compared to 2013. BDO: Hotel Britain 2014









Both investors and operators are assessing the regional hotels (not located in the metropolitan area of London) as investments with good price/quality ratio. A 138% increase in UK regional hotel investments is expected and in recent months many hotel groups have embarked on consolidation activity and investment in potential development sites. BDO: Hotel Britain 2014




London investments


48% of buyers purchase as buy to let and realise cash flow (investors). 5% of buyers purchase to resell the property and realise a capital gain (speculators). 8% of buyers build to rent the property (investors and speculators). 39% of buyers buy to own a property to live in. British Property Federation February 2014



Since 1995, real estate prices in London have increased by over 330%.





The average annual percentage increase in real estate prices in London from 1997 to 2013 has been approximately 9%.



 





London is constantly growing for the following reasons: - It is leading global financial centre - It is most visited city in the world (15 million visitors) - English language that predominates in the business world is spoken - It has an efficient legal system that - It has a stable political system - It has a stable and independent currency - It has the largest global air traffic hub with 6 airports - It has excellent quality universities attracting the best talent globally - It is a global centre for culture, fashion and shopping - It has a competitive tax regime compared to other Western countries



Real estate prices in London increase for the following reasons: - Immigration and population growth of about 100,000 inhabitants annually - Interest rates are at historic lows - The City continues to expand and professionals in real estate reinvest in real estate - Contraction of building activity: -4.5% (private sector) and -8.7% (public sector) - Ease of disinvestment due to demand/supply imbalance: 12 buyers for each property



Foreign investors buy London properties consistently for several reasons: - Acquisition of residence - Investment through rental or resale - Protection of capital and excessive taxation in own country - Prestige - Accommodation for children, often students - Use as a second home (pied-à-terre) or holiday home







OPISAS is able to provide clients with information on prices, rents and yields in real time for any specific area of London.


As an approximate rule of thumb: anywhere as long as investors purchase studio flats or properties with one or two bedrooms, since these are properties in greater demand. Specific advice can be provided at the time of enquiry by OPISAS staff.
- Commuter Belt
- London Fringe
- Greater London
- Outer London
- Inner London
- Central London
- Prime London
- Super Prime London


The Commuter Belt currently extends to the "Home Counties" (counties surrounding London) including: Hertfordshire, Buckinghamshire, Berkshire, Surrey, Kent, Essex, and some areas of Hampshire, West Sussex, East Sussex and Bedfordshire. Daily Mail October 2012 www.dailymail.co.uk





The Commuter Belt is the metropolitan area surrounding London from which it is practical to travel to work in the capital. The boundaries of the Commuter Belt are not fixed but are expanding with both the improvement of transport services and infrastructure as well with rising real estate prices in London which make it more affordable to purchase a home further way from the central London.



Greater London is AN area within the M25 further divided into Inner and Outer London.




Outer London is the name for the group of "Boroughs" that form the outer part of Greater London and surround Inner London. This includes the following boroughs: Barking and Dagenham, Bromley, Croydon, Enfield, Haringey, Havering, Hillingdon, Kingston upon Thames, Merton, Redbridge, Waltham Forest, Brent, Ealing, Harrow, Hounslow, Newham, Richmond upon Thames, Sutton.



Inner London is the name for the group "Boroughs" that form the inner part of Greater London and are surrounded by Outer London. This includes the following boroughs: Brent, Camden, City Of London, Ealing, Greenwich, Hackney, Hammersmith and Fulham, Islington, Kensington and Chelsea, Lambeth, Lewisham, Newham, Southwark, Tower Hamlets, Wandsworth, Westminster.
There is no official definition of Central London but it includes areas of the metropolitan area 1 (Zone 1) and possibly some areas of the metropolitan area 2 (Zone 2). Central London has the following characteristics: high density of buildings elevated daytime population as well as a high concentration of regional, national and international companies or organisations. Central London includes the following boroughs: Camden, Islington, Kensington and Chelsea, Lambeth, Southwark, Wandsworth and Westminster.


Central London Mayfair Westminster e Victoria Belgravia Pimlico Sloane Square Knightsbridge Chelsea South Kensington Bloomsbury Fitzrovia Covent Garden Soho Clerkenwell Spitalfields Barbican West London Notting Hill Holland Park Hammersmith Fulham Shepherd's Bush North West London Little Venice, Warwick Avenue e Maida Vale St John's Wood Swiss Cottage Belsize Park Primrose Hill Hampstead Highgate Hampstead Village e Finchley Road West Hampstead e Fortune Green North London Camden and Kentish Town Islington East London Wapping Shadwell Canary Wharf South East London Rotherhithe Surrey Quays Greenwich South West London Clapham Battersea Putney Wimbledon Barnes Kew Richmond Twickenham


- Prime North West: Highgate and Hampstead Garden.
- Prime North: Islington
- Prime East: Wapping and Canary Wharf
- Prime South West: Battersea, Clapham, Wandsworth, Wimbledon, Putney, Fulham, Barnes, Chiswick and Richmond.


Prime London property includes those areas with an average value of more than £1million while Super Prime includes those areas with average values ​​of properties in excess of £10 million. Other sources define those areas with Prime London property prices over £1000/ft2 and Super Prime those areas with prices above £ 2000/ft2. To date 54 billionaires and 281,000 millionaires reside in London.



- Prime London: 49% - Inner London: 20% - Central London: 7%


- 13,000 new properties were built in London in 2012
- 21,300 new properties were built in London in 2013


ARLA estimated a gross annual yield during the five-year period 2014-2019 of 9.5% for cash purchased property investments and 23% for mortgage financed property investments.



a) Property price <£ 450/ft2 (<€ 6000/m2) - 80% of buyers purchase to reside of which 80% for the first time buyers - The properties are located primarily in Outer London b) Property price £1,000-£1500/ft2 (€ 13,000 - € 20000/m2) - 70% of buyers are investors - The properties are located primarily in Inner London and Prime London c) Property price > £2000/ft2 (> € 25000/m2) - 70% of buyers purchase to reside and such properties are mainly second homes - The properties are located primarily in Prime London British Property Federation February 2014





Investors prefer smaller units (studios, 1 bedroom or 2 bedrooms) as prices are more affordable, yields are greater and also because such properties are easier to manage compared to bigger properties.


Provided that the properties are advertised at market prices, one can normally expect to rent studios and 1 bedroom properties in the space of a week and 2 bedroom properties within 2 weeks. Some real estate agents don’t charge commission if they cannot rent a property within certain time frames similar to the above mentioned.
New properties with high quality interiors and furniture, facilities (gyms, shops, parking lots, underground garages, etc.), easy access to transportation and impeccably property management can command a rent of up to 50% higher than second hand properties without such characteristics.
Employees of companies or students; the latter normally pay rent in advance on a quarterly basis or in some cases on an annual basis.

Off plan property

Investing in off plan property is a convenient and easy way to invest in the London property market without investing huge amounts of money.
Off plan properties can be purchased as a medium to long-term investment or they can be sold before completion of construction. Upon completion, if an investor decides to keep the property, the investor can pay the balance with a mortgage or with own funds and rent out the property.


Thanks to leverage, paying a 10% deposit and selling before completion of build one earn 100% of the capital invested if the property prices increase by only 10%. This is a real possibility in the London market.



OPISAS helps investors to maximize returns on off plan real estate by selecting properties in areas of real estate price growth (e.g. regeneration areas) with payment of low deposits and sometimes with discounts on the purchase price with respect to official valuations.



High ROI (Return On Investment). Selling an off plan property before completion, avoids the buyer paying the Stamp Duty (1% to 15% depending on the value of the property) which is paid only for the purchase of built properties only. Off plan property, once built, benefit from a 10-year structural warranty issued by the National House Building Council (NHBC). Buying property is an easy and hassle free: - One buys a contract; - There is no need to obtain a mortgage; - There is no need to rent and manage a property. A new build property is easier to maintain, manage, rent and sell. Purchasing off plan properties an investor can choose the best units, with the best views and can select the best finishes, etc.


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