12 Mar

Developer in buy-to-rent move

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".

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