12
Mar
Developer in buy-to-rent move
A property developer is giving rental tenants a chance to enter
rent-to-buy deals as an expression of optimism in the prospects for
the property market.
Worcestershire-based Hekmat Kaveh is offering the deal to tenants
at 90 one-bedroom flats in Cardiff, in which the first 18 months
rent can be taken as a deposit for a sale at a price of
£99,950, the BBC reports.
Such an approach may be considered by other investors in the rental
property sector.
Mr Kaveh commented that the trend for prices to fall "has or will
flatten out very soon", noting that sales and rental business in
his portfolio of homes in the West Midlands has recently
improved.
Those thinking of buying homes have been advised that now is the
best time to do so and that they should not wait for signs that the
market has reached the bottom.
Sales and marketing manager at property consultancy Ducalian
Timothy Lambert remarked that now is "the best time to buy since
the last property crash in the early 1990s".
