> Plaza Estates Rental Market Comment 2016 | Plaza Estates London
Plaza Estates Rental Market Comment 2016
By Fiona Guthrie
// Wed 27th
The last few weeks have been fairly unpredictable while people have been digesting the EU Referendum result. However, we believe that this will settle down as people realise it is unlikely any important decisions with Brussels are going to be made immediately.
The last few weeks have been fairly unpredictable while people have been digesting the EU Referendum result. However, we believe that this will settle down as people realise it is unlikely any important decisions with Brussels are going to be made immediately. In fact, this could be very positive for the rental market as many people may decide renting, rather than buying, is a good option whilst Britain negotiates its European exit. With the pound weaker, this also means rents in London have suddenly become cheaper for tenants transferring money from overseas. We hope that the City of London will remain as the financial centre in Europe and the capital will still be one the most successful and desirable places in the world to both live and work.
In 2007/8 we were surprised by the upturn in rental business following the financial crash and had our most successful year for rentals to date. We take courage from this and will use our experience and connections now to ensure the best outcome for our clients. We are taking a positive and proactive approach into these unprecedented times.
While the market is settling down, it is a little quieter than usual. Any clients considering improvements to their properties should take the opportunity to act now.The quieter market means that potential tenants are even more discerning in the standards they require, so it is important for properties to stand out. Our refurbishment department are well placed to advise clients and to handle new projects big or small. However, we are already starting to see an increase in business as we hit the busy summer market which we encourage both landlords and tenants take full advantage of.