Select Property launches UK student residences in GCC
Dubai, May 27, 2014
Specialist investment company Select Property has officially launched a luxury British student residential product to investors in the GCC region.
The company has a major sales division in Dubai, following the significant demand for student property over the last two years from investors in the region.
It is currently selling the eighth development in Sheffield from Vita Student, which has brought 1,480 studio apartments to the UK market in the last two years and has a development portfolio worth more than Dh863 million ($234.8 million).
The investment opportunities in the UK student housing sector have become increasingly popular due to growing student demand and the country’s stable property market, said a report.
According to global property consultancy Knight Frank, total returns from the sector have outperformed all other British property assets since 2011.
The apartments can be purchased from Dh509,000 and investors are given an assured net yield of 35 per cent over five years. The apartments are also expected to generate a six to seven capital growth every year.
The scheme is fully-managed by Vita Student Management which sources the tenants and deals with any enquiries during their residency.
Adam Price, managing director of Select Property Middle East, said: “Select Property has been working in Dubai for the past decade so we have established strong relationships with local investors and have become a well-known and trusted investment property provider.
“We have also developed an in-depth understanding of the investment market and what buyers look for in a new product which is why we know that the Vita Student product will be very popular.” - TradeArabia News Service