Mark Pearson, managing director of Baron and Carbot, has said his organisation did £50 million worth of transactions for Nigerian investors that invested in the UK property market in 2022.
Pearson who made this known at a recent media briefing during a seminar organised in Lagos to educate Nigerians on the opportunities in the UK property market said Nigeria is a unique and important market for Baron and Carbot.
The managing director noted that the great thing about UK real estate investment is its high level of regulation and the UK real estate market is widely regarded as the most transparent and highly regulated in the world, ensuring that investors can access all the necessary data and properties.
“The UK real estate market is widely regarded as the most transparent and highly regulated in the world, ensuring that investors can access all the necessary data and properties.
“Then the solicitors are regulated by the government and so the government checks all the solicitors and then us.
“Not only does this enable Nigerian clients to invest in UK properties with a high degree of confidence, but it also allows them to diversify their investments. With the UK market being so transparent, clients can make sure their investments are safe and secure,” he said.
He stated that the UK real estate market is a reliable way for Nigerians to build wealth.
Pearson also emphasized that investing in the UK real estate market is becoming an increasingly popular option for Nigerians due to the growth expectations in the UK economy and the attractive mortgage rates available.
He noted that the mortgage rate in the UK is at 4.67 for existing clients while for new clients it is at 6 percent, he called on Nigerians to get into the market now while waiting for the base rate to drop.
“The main benefit for UK property investment whether you are a Nigerian or anywhere else in the world is the protection mechanism put in place to first of all protect your investment and give full clarity on the risks and the benefits involved.
“There is so much data that is available that can inform investors’ decisions. The beauty is that your money is protected
“If you want to know the demography, the rate of rental, the occupancy rate, the average property value, the crime rate and many more are available online that will help you make the best investment decision,” he added.