Property

Property

Pioneering Property Developer Transforming London Rentals

https://www.prfire.com/

Property developer Eastbank Studios is meeting the post-lockdown surge in demand for top-quality London rentals with its sustainable – and stylish – approach to renovating property in dire need of modernisation.

The East London company invests in houses and apartments which require a complete scheme of refurbishment, bringing each one up to the highest standard of contemporary finish and returning them to the market turn-key ready.

https://www.prfire.com/

Eastbank’s CEO, Jason Arden says: “We can provide housing where all the hard work has been done. In addition to the structural and technical repairs, we also have our own in-house interior décor specialist. All our properties are finished to a beautifully-high standard with superb use of light and neutral palettes.”

Arden adds: “We come as a full package and, we bring to life every property we introduce to the market – either for short or long-term rent.  Every home we refurbish is sympathetically restored but still delivers contemporary interiors. It’s the best solution for the modern world.”

Eastbank’s rentals are concentrated in the lively East London neighbourhoods of Walthamstow, Leyton and Leytonstone, areas popular with young professionals and families seeking the extra living and working space – indoors and out – of period homes.

 “Many of our rental properties are in areas which have become desirable again, having benefited from the complete regeneration of the East End. They’re also an easy commute for people who still need to travel to their central London workplace.”

Uncertainty in employment and relocation trends caused by the coronavirus pandemic means many people are rethinking where and how they live.

Eastbank understands the flexible nature of today’s market and offer rental agreements to suit a range of circumstances.

Arden says: The right rental gives people time and space to consider their options.

Even if someone isn’t planning to stay at a rented property for a long time, expectations are still high and they want top drawer accommodation even in the short -term. We live in a time of instant results on demand. Consumers want everything at the touch of a button. We recognise this and know how important it is to deliver on style as well as quality.”

Issued on behalf of Eastbank Studios, 141 Hoe Street, Walthamstow, London E17 3Al

Eastbank Studios HQ is in Walthamstow, E17
The company was founded in 1984 by Tony Arden who has worked in property and investments since the 1960s.

Eastbank have a solid track record in identifying long and short term opportunities to maximise returns for investors.
The company believes in long-term partnerships and outcomes.
To validate their transparency, investors are welcome to scrutinize the company accounts and encourage open conversations with collaborators and partners.
Eastbank’s website recently added a blog page which offers interior décor and property tips.

For further information go to www.eastbank.co.uk

Eastbank CEO, Jason Arden is also available for commentary and analysis.

Interview requests to:
Deborah Welsh
dwcommercialmedia@icloud.com
07788 101465

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Why having a deposit is so important when purchasing a property


Britain is a nation of homeowners – and for many people, taking the first or indeed the next step on the housing ladder is an important milestone to look forward to. But it’s far easier said than done to actually get on the housing ladder, and that’s down in part to the need to have a decent deposit.

This article will explore the role the deposit plays in the process, and what impact the pandemic has had on the mortgage market.

Small deposit?
For many first-time buyers, an ideal scenario might seem like one in which the borrowing is high and the deposit is low, the tried and tested 5% deposit mortgage.

The reason why this is so appealing is obvious: it means that you have to save (and possibly rent, or live with family) for a shorter amount of time because your deposit can be accumulated in a far shorter period. This scenario is often described as a high “loan to value” arrangement.

Prior to the COVID Pandemic, this scenario was accessible and easy, but we are yet to see 5% deposit mortgages return to the market. Just a decade or so ago it was the case that people looking to buy a home could turn up at a lender and in some cases access a no-deposit, 100% mortgage. But when house prices went down during the financial crisis, people ended up trapped because they owed the bank more than their house was worth – a phenomenon called “negative equity”. Since then, it’s become the case that 100% mortgages are impossible, and now a deposit is essential. Thankfully the idea of having more equity in property has risen in popularity, and some new buyers now aim to wait and have a perhaps a bigger deposit than they need before they buy.

The impact of COVID 19
The COVID 19 pandemic has worked its way into almost all aspects of our lives, and the housing market is no exception. When it comes to deposits, banks have – at least for now – taken some of their highest loan to value products off the market. “While towards the end of last year it might have been possible for a borrower to get a mortgage with just a 5% deposit, it’s now almost impossible to do” says Simon Hamilton, Mortgage Director of Hello Mortgage. In fact, it’s becoming increasingly apparent that any deposit under 10% or perhaps even higher might not be enough.

This is an understandable move on the part of the banks because higher loan to value mortgage and remortgage options are often perceived as risky. In an economic environment in which some people might face losing their jobs, banks may consider it likely that defaults will occur and hence make more cautious lending decisions. For a borrower, this could be frustrating – especially if you were close to reaching your goal only to have the goalposts changed. However, it’s perhaps for the best in the long run, as it helps defend homeowners against price drops.

“It is no secret that some of the better mortgage deals, mainly within the Buy to Let sector, are available only to those with a lower LTV, typically 70%. This is largely due to risk. Small deposits are great for helping people get onto the property ladder, but its always better to have as low a loan to value as you can” Says Keith Ahmed, MD of Hello Mortgage.

We are starting to see more lenders offer low deposit mortgages, but are yet to see the return of the 5% mortgage, the new normal at the moment is a 10% deposit.

The mortgage market
What some potential buyers don’t realise, however, is that there is a whole “mortgage market” out there which is packed full of diversity. While it’s unlikely that any provider is going to be offering tiny deposit mortgages any time soon, it also remains true that lenders differ from each other in all sorts of diverse ways and each one has a different product offer.

If a person looking to buy a mortgage heads straight to perhaps the same bank they have their current account with, they will only receive products offered by that bank. This may not, for whatever reason, suit their circumstances. Their bank may not offer suitably higher LTV mortgages, for example, or their bank may have unfavourable eligibility criteria on some products like restrictions on self-employed applicants or those with bad credit. Their bank may also not be charging the most competitive interest rates, either. For a savvy mortgage shopper, then, the solution is often to opt for some unbiased and independent mortgage advice.

Using Hello Mortgage as your local broker
The professional you need if you’re looking for independent mortgage advice is a Hello Mortgage broker. Our job is to assess the state of the market and to find a mortgage deal that works for you, which is often more efficient than going it alone. At Hello Mortgage we have access to powerful market knowledge, comparison software and direct relationships with lenders which we use to find you the best possible mortgage deal. After doing an initial fact-finding with you your local Hello Mortgage broker we will be able to assess the market quite quickly – and to find a good deal with low-interest rates tailored to your needs.

Not many people realise that brokers all charge differently for their services. Depending on various factors, such as the value of the mortgage, complexity, or loan type. We keep it simple; all our initial mortgage advice is free. We do not charge any fees for sourcing you a mortgage, only if you take a mortgage that we have recommend to you, and even then, our fee is only payable on completion.

Using a broker is even more prudent than ever during the pandemic given that the mortgage market has changed so much in the last few weeks alone. Those who are worried about what the circumstances of their case might mean for their application, such as those who only have a 5% or 10% deposit or those with specific requirements like a buy to let mortgage, should speak to us about what their options might look like in the post-pandemic world.

In sum, then, the world of mortgages has changed so much in the last month or two thanks to the coronavirus crisis. It’s now the case that getting mortgages is a little more complex, and it becomes even more complicated if you’re an applicant with a small mortgage deposit or a circumstance that doesn’t fit the average mould. But by speaking to one of our local mortgage brokers near you, you can get up to date mortgage advice which reflects your own personal circumstances and helps you plan for the future, for free.

Hello Mortgage, really are the best mortgage brokers to have on your side, we are whole of market, impartial, local, friendly and are around at times that work for you.

Contact: Keith Ahmed
Company: Hello Mortgage Limited
Phone: 0800 292 2557
Email: hello@hellomortgage.co.uk
Web: https://www.hellomortgage.co.uk

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Virtual Property Viewings Covering Bangkok and Phuket Available Now


Siam Real Estate (SRE) due to Thailand’s closure of borders and buyers/renters unable to visit during the Corona Virus Pandemic now enables global prospects to view property of their interest in real time from their own home/country.

User selects Thai property from SRE web site and request a viewing. An appointment date and time is arranged ( via WHATS APP/LINE/WECHAT/SKYPE/MESSENGER ) Then the salesperson connects via mobile at given (booking) time with user and proceeds to via mobile video link in real time, walk through the property answering questions and following directions.

Currently the Thailand real estate market and globally is in an impasse and VIRTUAL VIEWINGS are a way of keeping prospects interested and enable the user to potentially make a decision from afar with confidence.

As well as the VIRTUAL VIEWINGS SRE are also producing VIDEOS and 3D Virtual Tours of properties for potential buyers/renters.

Quotable statement:

As CEO of SIAM REAL ESTATE (Richard Lusted https://www.siamrealestate.com/contact/team/)

All of us are in an incredibly difficult situation due to the pandemic and Thailand’s national “lockdown” is destroying all our businesses until a cure is found and borders are once again open for business, when is anyone’s guess? Our initiative will hopefully spur buyers/renters to continue to support us with confidence as a leading Thai real estate business of 18 years. Teflon Thailand, we expect will bounce back strongly due to its renowned hospitality and tourism.

See their latest Newsletter and Property Listing featuring 3D Virtual Tour and Videos:

Newsletter:

Bangkok: : https://mailchi.mp/siamrealestate.com/bangkok-top-8-condos-for-april-virtual-viewings

Phuket: https://mailchi.mp/siamrealestate.com/top-6-properties-from-phuket-area-virtual-viewings

Property Listing:

Phuket: https://www.siamrealestate.com/detail/by/refcode/HSSV9307/

Bangkok: https://www.siamrealestate.com/detail/by/refcode/BKCSD22079/

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Manchester based property staging company Kharis & Kale Interiors win Best of Houzz 2020


The Annual People’s Choice Award from the Houzz Community Highlights Home Renovation and Design Professionals with Most Popular Designs and Top Ratings

Manchester, 13th February, 2020 Kharis & Kale Interiors of Manchester has won a “Best Of Houzz” award for Customer Service, on Houzz®, the leading platform for home renovation and design. The award-winning interior design and property staging company Kharis & Kale Interiors was chosen by the millions of homeowners that comprise the Houzz community from among more than 2.5 million active home building, renovation and design industry professionals.

The Best Of Houzz badge is awarded annually, in three categories: Design, Customer Service and Photography. Design awards honour professionals whose work was the most popular among the Houzz community. Customer Service honours are based on several factors, including a pro’s overall rating on Houzz and client reviews submitted in 2019. Architecture and interior design photographers whose images were most popular are recognised with the Photography award.

A “Best Of Houzz 2020” badge will appear on winners’ profiles as a sign of their commitment to excellence. These badges help homeowners identify popular and top-rated home professionals in every metro area on Houzz.

We are so pleased to accept this award from Houzz for Best Customer Service. Our commitment to providing a great customer experience is foremost in our minds in everything we do.

“This year’s Best Of Houzz awards go to an incredibly talented and service-oriented group of home renovation and design professionals, and we’re proud to highlight the winners on the Houzz website and app,” said Inés Cid, Managing Director for Houzz UK. “This award is particularly meaningful as it reflects the sentiment of the millions of homeowners in the Houzz community who are hiring home professionals for their projects across the UK and around the world.”

Follow Kharis & Kale Interiors on Houzz https://www.houzz.co.uk/pro/kharisandkale/kharis-kale-interiors

About Kharis & Kale Interiors
Kharis & Kale Interiors provide award winning interior design and property staging services. We specialise in transforming properties into beautiful aspirational homes. In order to achieve this, we provide a flexible design led services with furniture rental packages which include all furniture, art and accessories to make a property stand out above the competition. We will professionally present your property and enable you to achieve a faster sale and return on investment.

About Houzz
Houzz is the leading platform for home renovation and design, providing people with everything they need to improve their homes from start to finish – online or from a mobile device. From decorating a small room to building a custom home and everything in between, Houzz connects millions of homeowners, home design enthusiasts and home improvement professionals across the country and around the world. With the largest residential design database in the world and a vibrant community empowered by technology, Houzz is the easiest way for people to find inspiration, get advice, discover products and hire the professionals they need to help turn their ideas into reality. Headquartered in Palo Alto, Calif., Houzz also has international offices in London, Berlin, Sydney, Moscow, Tel Aviv and Tokyo. Houzz is a registered trademark of Houzz Inc. worldwide. For more information, visit houzz.co.uk.

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Manchester based property staging company Kharis & Kale Interiors win Best of Houzz 2020

The Annual People’s Choice Award from the Houzz Community Highlights Home Renovation and Design Professionals with Most Popular Designs and Top Ratings

Manchester, 13th February, 2020 Kharis & Kale Interiors of Manchester has won a “Best Of Houzz” award for Customer Service, on Houzz®, the leading platform for home renovation and design. The award-winning interior design and property staging company Kharis & Kale Interiors was chosen by the millions of homeowners that comprise the Houzz community from among more than 2.5 million active home building, renovation and design industry professionals.

The Best Of Houzz badge is awarded annually, in three categories: Design, Customer Service and Photography. Design awards honour professionals whose work was the most popular among the Houzz community. Customer Service honours are based on several factors, including a pro’s overall rating on Houzz and client reviews submitted in 2019. Architecture and interior design photographers whose images were most popular are recognised with the Photography award.

A “Best Of Houzz 2020” badge will appear on winners’ profiles as a sign of their commitment to excellence. These badges help homeowners identify popular and top-rated home professionals in every metro area on Houzz.

We are so pleased to accept this award from Houzz for Best Customer Service. Our commitment to providing a great customer experience is foremost in our minds in everything we do.

“This year’s Best Of Houzz awards go to an incredibly talented and service-oriented group of home renovation and design professionals, and we’re proud to highlight the winners on the Houzz website and app,” said Inés Cid, Managing Director for Houzz UK. “This award is particularly meaningful as it reflects the sentiment of the millions of homeowners in the Houzz community who are hiring home professionals for their projects across the UK and around the world.”

Follow Kharis & Kale Interiors on Houzz https://www.houzz.co.uk/pro/kharisandkale/kharis-kale-interiors

About Kharis & Kale Interiors
Kharis & Kale Interiors provide award winning interior design and property staging services. We specialise in transforming properties into beautiful aspirational homes. In order to achieve this, we provide a flexible design led services with furniture rental packages which include all furniture, art and accessories to make a property stand out above the competition. We will professionally present your property and enable you to achieve a faster sale and return on investment.

About Houzz
Houzz is the leading platform for home renovation and design, providing people with everything they need to improve their homes from start to finish – online or from a mobile device. From decorating a small room to building a custom home and everything in between, Houzz connects millions of homeowners, home design enthusiasts and home improvement professionals across the country and around the world. With the largest residential design database in the world and a vibrant community empowered by technology, Houzz is the easiest way for people to find inspiration, get advice, discover products and hire the professionals they need to help turn their ideas into reality. Headquartered in Palo Alto, Calif., Houzz also has international offices in London, Berlin, Sydney, Moscow, Tel Aviv and Tokyo. Houzz is a registered trademark of Houzz Inc. worldwide. For more information, visit houzz.co.uk.

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Get access to the best Costa Blanca property listing online to live or invest


Costa Blanca is a Spanish tourism zone located in southeastern Spain. Alicante is the capital, populated by more than 300,000 people. Almost 15% of them are expats from South and North America as well as Europe. Are you looking for houses for sale in Spain Costa Blanca to invest in or find a second home in Spain? Then this is the right place! HouseSpain.co.uk is a real estate platform that connects sellers from Spain with buyers from all over the world for their mutual benefit. On our website, you will find top property for sale in many towns of Costa Blanca like Denia, Javea, Benidorm, Torrevieja, etc. and other Spanish cities at competitive prices. All of our listings are highly-coveted so hurry up before somebody snatches your dream house away from you!

How to buy property in Costa Blanca?
It is easy to find the right house or apartment using our platform. All you need to do is choose the location, for example, property for sale in Denia, and browse the listings. Click on anything you like to see more images and read a detailed description. We make sure that all the pictures our sellers add are fresh and match the real state of the property so that you are able to get a solid idea of how the apartment or villa of your choice looks even if you live thousand miles away and have no opportunity to visit the site yourself. Please note that we don’t sell anything on our website. HouseSpain.co.uk is merely a mediator between the two parties, helping them establish communication and facilitate signing the deal. If you are interested in any piece of Costa Blanca Alicante property you saw on our website, you can request more information or a visit. The seller will get back to you as soon as possible to answer your questions and schedule a meeting.

Why you should buy a house in Costa Blanca
Spain is one of the top destinations for spending winter months, investment, and retirement. Here is why it is so popular with expats:

Climate
It is basically sunny 360 days a year in coastal Spain. Other regions are not much colder; the temperature rarely drops lower than 15 degrees in winter. A lot of sunlight and sea air are excellent conditions for maintaining good health for years to come.

Cost of living
Costa Blanca real estate prices are pretty low compared to other parts of Europe and Spain too, at this time, the average price per square meter of properties in Spain is £1,490 and in Costa del Sol is £1,456. It creates excellent opportunities for investment, since, at this time, the price increase is 7% per year, even if you don’t plan to move to Spain permanently. The prices of food and clothes are also quite affordable. If you live paycheck to paycheck, moving to Spain can help you get more value for your money.

Fresh produce year-round
The warm climate allows Spaniards to grow organic fruits and vegetables all year round. Spain is famous for its Mediterranean diet that consists of fresh produce, seafood, and healthy fats. The unique combination of nutrients, vitamins, minerals, and antioxidants makes this diet one of the best in the world to promote good health and weight loss.

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Tips on Getting your Property Ready to Sell

Are you selling your home?  Your brand-new start can be an exciting time – but there is also lots of planning that you need to account for when getting your home ready to sell.  You want to make it as attractive as possible to prospective buyers’ so it sells fast.  Here we have some tips on how you can get things ready to allow for this to happen.

Find a Good Listing Agent

Finding the right representative to sell your home is critical.  Do your own research on the local housing market first and get an idea of what the value of your home would be.  Make sure you do your research on any prospective agents too.  Have a look on their website to see any case studies, and testimonials they may have.  You should also check out their social media channels to find out a little bit more about the personality of the company.

Clean Out Your Home

The last thing a prospective buyer wants to see is a home that is full of clutter.  It will make it much more difficult for them to visualize what it would be like for them to live in.  Go through everything in your home and decipher what you really do need, and what you could live without.  Once you’ve taken inventory of what needs to go, have a residential decluttering service haul away everything you want to get rid of.

Make any Necessary Repairs

When going through your home, you will no doubt notice that there may be little things that need to be repaired.  It is always a good idea to get a handyman out to make any necessary repairs for you.  This means that everything will be as it should be when any prospective buyers come to visit.

Give it a Touch of Paint

You will want your house to look as fresh as possible, and a simple coat of paint can give it a new lease of light.  It’s always a good idea to go for a neutral color so you don’t put off anyone with a very particular style. If it’s within budget, it’s always a good idea to paint the ceilings and trim white to make the house look as pristine as possible.  This is possibly something that the handyman would be able to help out with too.

Don’t Forget Curb Appeal

When selling a home, there is usually a lot of focus on the inside of the home – and often people forget about the outside.  Make sure your home has some curb appeal, and do things like cut the grass, make sure the garden is landscaped, and get rid of any bits and bobs that don’t look quite right.  If you have a family home, clearing away any outdoor toys is also a good idea.

If you are looking to sell your home and want things to move fast – make sure you take these tips into consideration to impress prospective buyers.

Making Buy-To-Let Work For You

The various components of financial planning in the modern British climate is akin to being up the creek without the veritable paddle. After all, we are in the eye of the storm. Brexit is making a shambles of everything, devaluing the British name, but, more importantly, the British pound. This means that younger Britons are scrambling for any slice of the financial pie, purely so they can have a small dose of security. Naturally, the idea of buy-to-let comes with its fair share of positives. Buying a property that you let to tenants can, on the surface of it, be a very simple way to earn money. But with this in mind, is being a landlord in the current climate a worthy investment, or is it a waste?

Buying A Property

It’s important to purchase a property that will let well. It’s so easy for us to focus on the current climate, but we’ve got to think about the property increasing in capital value over the years. There are different aspects that need addressing, most importantly, the area. Choose the wrong area, and it will drain your finances. This is why a local letting agent is invaluable. They can provide you with authentic knowledge in terms of the returns you want. Supply and demand can be a damp squib in certain areas. It’s far better for you to purchase a property in your local area, rather than getting somewhere hundreds of miles away. When problems arise, and you aren’t able to deal with it up close and personal, this becomes a financial and emotional drain.

Is Cash Flow An Issue Now?

Of all the available capital allowances services out there, we can be confident in the fact that there are ways to cover our bills. But we’ve got to ensure that the idea of cash flow is about preventing, rather than curing, an issue. You need to decide if you have enough cash flow to cover the necessary outgoings for the property. You may have to use savings or borrow money, and if these are feasible, you’ll have to sell the property. You need to decide if you have the necessary means to generate enough income to cover the costs. So many landlords make the mistake of purchasing a property that’s just out of reach financially, thinking that it will provide more than its fair share of returns in the long run. You have to find the property that you can afford at the outset, but covers enough of the outgoings as well as giving you that opportunity to put some money aside. And always remember, there are many maintenance issues that come with buy-to-let.

The Rules And Regulations

Being a landlord a few decades ago seemed like easy money. After all, there were a lot fewer regulations in place so landlords could do whatever they wanted. And while landlords originally passed on the fees of tenant referencing and inventories to the people renting the property, from the 1st of June, it’s down to the landlord. Currently, this is only in England, as Scotland banned letting fees a long time ago and Wales are looking to implement a similar bill. What does this mean for you as a landlord? The more hoops to jump through, the more it comes out of your pocket. It’s not just about the financial implications, if you don’t follow the rules to the letter, you could get fined, but it’s also possible that you would face a conviction. Working with the right letting agency that is either a member of the Association of Residential Letting Agents (ARLA), the National Approved Letting Scheme (NALS), or the Royal Institution of Chartered Surveyors (RICS) means that you stand a better chance of working with an agency that is hot on the Code of Practice.

The Personal Strain

Even if you go into a buy-to-let scheme prepared in a legal sense, there are numerous emotional investments you have to be aware of. You may very well feel that renting a property out to tenants is an easy way to get some extra money, but with this comes a lot of additional hassle. One of the main ones is if you rent it out to bad tenants. Bad tenants can cost you additional money, either through damage to the property, not paying their rent, or even causing issues with the neighbourhood, prompting the local council to jump in. It’s important to work with the letting agent in this respect, but you can also keep on top of this if you are planning on self-managing. You can undertake regular checks, ensure that you reference the tenants properly, but also be ready to pounce if there is a potential issue with a tenant. As it’s likely that you’ll find yourself lumbered with a bad tenant from time to time, it’s important before you jump into this that you are aware of the personal strain. Many landlords find it’s not worth the hassle for minimal profit, and as such, they give up after a few years. This isn’t indicative of the entire practice of being a landlord, but it can certainly take the shine off.

How Can All Of This Be Offset?

One of the best options is a landlord business plan. This way, you are able to plan ahead for any discrepancies, but it also makes the entire process more clear cut. It gives you the opportunity to see your capital in clearly defined columns, giving you a true picture of what you need, but also how you project your costs over the next few years. It gives you the opportunity to plan for intermittent works, like a new kitchen. It also gives you the opportunity to prepare should there be rises in interest rates.

It’s not an easy thing to get your head around. But buy-to-let isn’t a waste. It certainly seems that it’s not as popular as it was, but this may very well be to do with the red tape rather than anything else. Being a landlord isn’t easy money, but in this modern climate, where people are clutching at straws, they’ve got to be aware of what they’re getting themselves into. Financially speaking, it can yield you a profit and be a lifelong investment, but it comes with a few clauses.





Alpha1Estates: Makkah-Madinah Real Estate Index falls 18% in 2018 as structural issues impact

February 7, 2019: Global real estate advisory firm Alpha1Estates International said on Thursday that its real estate index for Makkah and Madinah had fallen by 18% in 2018, reflecting a slowdown in the Kingdom’s real estate sector, driven by commercial, economic and wider structural issues.

Though the Ihsan al-Haramain Index, the influential index used to solely track Saudi-listed companies involved in real estate development in Makkah and Madinah, outperformed real estate stocks in the Kingdom which fell dramatically by 31% in 2018, it was significantly behind an 8% percent annual rise in the Saudi market’s major Tadawul All Share Index (TASI).

‘Investors in real estate in the Kingdom, and in the Holy Cities, in 2018 expressed concerns about listed real estate companies, such as their high levels of indebtedness, rising financial costs, but were also affected by external factors such as a low oil price, geopolitical risks, and the general economic outlook,’ said Mr. Talal Mahmood Malik al-Alawi, Chairman and CEO of Alpha1Estates International. “More so, they are also wider structural issues affecting the sector, such as the need for new legislation which can help the market to mature and which the likes of key government stakeholders like Public Investment Fund (PIF) can help to facilitate with their mega-projects in the Holy Cities.’

There was a near universal fall across all stocks on the Ihsan al-Haramain Index by year end, with Dar Alarkan Real Estate Development Company and Jabal Omar Development Company both dropping around 40% in value, and Knowledge Economic City in Madinah by around 30%. Eight out of 10 stocks in the Real Estate Management Development index fell by double-figures, with only one, Makkah Construction & Development Company, showing a slight gain of 4%.

On 23 April, in the seminal article, ‘An Arabian Future’, published in the Saudi Gazette to mark the second-year anniversary of the launch of Vision 2030, Mr. Malik outlined his views on the future of the real estate sector in the Kingdom, as endorsed by the Royal Court:

‘Home ownership is an aspiration in the Kingdom, be it for Saudis as citizens, for Muslims in the Holy Cities or across the Red Sea for everyone, a thriving economy can be facilitated with induced maturity of the real estate sector.’

In order to ensure stability, non-oil economic dependence and global marketing in the real estate sector of Makkah and Madinah, Alpha1Estates in 2012 proposed five critical pieces of legislation that focus on globalising the sector, which can lead to greater investments, prosperity and quality of life in the Holy Cities. These included easing of immigration and travel for non-Saudi Muslims; setting up a real estate regulatory authority to monitor buying and selling of real estate and prevent monopolies; empowering non-Saudi Muslim ownership, leasing and investment of real estate; easing non-Saudi Muslims setting up a company, working, residing or studying in the Kingdom, and introducing and scaling Islamic mortgage financing in the Kingdom.

On February 26, Mr. Malik was honoured to be a special guest at the first Riyadh International Humanitarian Forum (RHIF), inaugurated in person by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud. Sister companies of Alpha1Estates provided strategic services at the first RHIF organised by the King Salman Centre for Humanitarian and Relief Works.

Mr. Malik also met with HRH Crown Prince Mohammad bin Salman bin Abdulaziz Al-Saud in Saudi Arabia on 24 October 2017, a milestone event which went viral on social media, was interviewed by the United Kingdom’s Guardian Newspaper on the accession of the Crown Prince on 21 June 2017. ¬¬

Crown Prince Muhammad bin Salman personally launched the Saudi Vision 2030 in April 2016, an economic diversification plan to reduce the Kingdom’s dependence on oil, and in June, the National Transformation Program (NTP) was launched with 543 policy initiatives across 24 government entities.

In Vision 2030, the Kingdom regards as its first pillar its status as the heart of the Arab and Islamic worlds. In NTP 2020, the Kingdom has aims to increase the number of Hajj and Umrah pilgrims to 30 million by 2030 and to increase the sectoral revenue through private sector partnerships by a tremendous 240-times fold from SAR 80 million (USD $ 21.3 million) and SAR 19 billion (USD $5.1 billion).

The Crown Prince as part of the Vision 2030 has announced the proposal for foreign residents in Saudi Arabia to potentially obtain green cards for permanent residence, which would contribute over USD $10 billion to government revenues, with these currently under study by the Shoura Council. As part of Vision 2030, the Kingdom said it ‘would will seek to improve living and working conditions for non-Saudis, by extending their ability to own real estate in certain areas, improving the quality of life, permitting the establishment of more private schools and adopting an effective and simple system for issuing visas and residence permits.’

Alpha1Estates International launched in 2006 to become the world’s first company to market Saudi Arabian property globally and also the first company to market property in both Makkah and Madinah, and has worked with the three of the five largest real estate developers in Saudi Arabia and five of the biggest in the Middle East.

Alpha1Estates International is a global real estate advisory firm headquartered in the United Kingdom, with offices in Dubai UAE, and Jeddah, Saudi Arabia. It primarily focuses on emerging real estate markets. The company has advised on some of the Middle East’s most prestigious real estate projects, working with the largest developers.

Rental Rage in the Millennial Age

20% of people in the UK struggle to pay their rent on time – whether that’s because it eats up the majority of their paycheck, or it’s because they’re struggling to balance their finances so are always in arrears. The increasing rent prices around the country are still very much a problem for some.

Research shows that it’s the millennial generation aged 25 – 34 that are struggling the most, with 27% of them admitting difficulties paying their rent. With a third of millennials predicted to rent into retirement, it’s not difficult to see why they are getting nowhere in raising their deposit and getting on the housing ladder. For many, renting throughout the majority of adult life is to become the norm as the housing market becomes more and more out of reach.

The UK’s first landlord insurance comparison site, Protect Your Bricks, compares the whole market for landlords to provide them with a complete range of products for their needs, helping them to decide which level of cover is best for them, all free of charge. With many tenants straining to meet rent payments, it’s more essential than ever that landlords are covered in the event of late payments and difficulties.

To celebrate famous tenants of our time, both financially challenged and financially able, Protect Your Bricks have an awesome new quiz that reveals your TV tenant twin.  Whatever your tenant tendencies, there’s one of 70 quintessential great TV tenants of our time that shares your spending habits, your cleaning skills (or lack of), and your go-to music choices. Are you always missing your rent payments like Penny from The Big Bang Theory, or do you not even notice it leaving your account like Sex &The City’s Mr Big? The City’s Mr Big? There’s only way to find out… click here!

For more information about Protect Your Bricks visit :www.protectyourbricks.com