26 Nov

Residential property 'has many positive attributes'

Residential property 'has many positive attributes'

The recession has proved that residential property is a "robust" investment option, according to an industry expert.

Naomi Heaton, chief executive officer of the London Central Portfolio, commented that the residential sector has "a lot of attributes" that have come to the fore during the economic downturn.

She said: "With residential, everyone needs a place to live and that is whether the economy is up or down."

Ms Heaton added that the sector is better placed to accommodate changes in the market than commercial property because it is naturally set up for a higher turnover of tenants.

A report from the Land Registry in October revealed that, while property prices in London are still below 2008 levels, values in the capital have increased for five consecutive months to September this year.

The dip in prices could allow property investors to pick up a bargain in one of the most sought-after real estate locations in the world, Ms Heaton said.

"It is the opportunity of a generation," she commented.

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