Solicitor Neehal Patel on why there is still opportunity in UK Real Estate
The UK economy may still be suffering from downturn but solicitor Neehal Patel explains how opportunities for law firms still exist in Real Estate. Neehal Patel works at Landmark Legal, London.
Wealthy overseas investors, like the oil rich Arabs and Russians, are helping to shape a mini boom in real estate in prime areas of central London during this uncertain economic period. Neehal Patel (http://neehalpatel.co.uk), a partner at Landmark Legal, explains that opportunities are available to law firms if they target this market.
On the trend of foreign investors looking into British properties in 2012 amidst a recession that is overshadowing the country, Howard Gil of Forsters said, “We are heavily involved with the nuts and bolts property work that large firms are not doing anymore. This is because many of our funds’ clients are instead exploring investment opportunities in residential development.”
“Clients with equity are kings in real estate at the moment, due to the debt drought,” adds Eversheds Real Investment head Bruce Dear.
Patel shares the sentiments of Gil and Dear. The central location of the UK, together with its as a financial capital is encouraging foreign investors, which includes sovereign wealth, U.S. real estate property funds and Middle Eastern institutions, to look into the country despite the slowdown affecting the economy.
By working with law firms based in the United Kingdom, foreign investors are able to purchase prime real estate in the country, which is mostly in London but is starting to spread throughout the country.
Landmark Legal is a London based law firm that specializes in conveyance, family and criminal law. Solicitor Neehal Patel is a firm partner at Landmark Legal and specialises in criminal law. To know more about Landmark Legal, Neehal Patel and the firm’s services visit http://neehalpatel.co.uk/contact
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