Well-to-do individuals losing their jobs in Britain are investing redundancy payments in property, and there could be more of them. A survey of finance professionals shows one-third of them would invest their redundancy money in property if they lose their job.
There could be more investment in the rental sector from other quarters too. The Young Index shows a growing number of existing buy-to-let investors will pour money into property over the next year, while pension funds are planning to build entire blocks of build-to-let homes to cater for Britain's growing army of tenants.
That tenants are able to pick and choose between large numbers of empty rental properties at the moment and that rental returns continue to fall does not appear to faze investors, nor a warning from tenant referencing agency, HomeLet, that the number of tenants defaulting on their rent is likely to “soar”, because of Britain's growing unemployment problem. Jobless landlords chasing jobless tenants for unpaid rent could be a new phenomenon in 2010.
(All The World's a Home : Global Property News)
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