Held in Penang, Malaysia, the long hours of this exhibition, which ran across 3 days from 11AM-9PM, proved to be of great advantage to us, with our international exhibition team being given the time to hold lengthy talks with potential investors, allowing them to seriously contemplate the investment most suited to them.
A number of these discussions which initially began with investors expressing interest in London, soon turned, as investors saw the high rental returns and yields on offer in more regional locations such as Manchester, where house prices rose at a pace of 18% over the last year outscoring even London, where prices rose 17% according to the Nationwide House Price Index.
In addition to properties in Manchester, our team were also exhibiting unique buy-to-let opportunities in Liverpool, along with opportunities within the student accommodation market in Sheffield and Middlesbrough; this market according to Knight Frank is currently soaring with demand due to a severe imbalance in supply in core UK markets.
The team not only received a number of serious enquiries, the outcomes of which are currently being followed up by our UK-based sales team, they also secured two buy-to-let sales in Liverpool development X1 Studios, as a result of the high demand in the former European capital of culture, where properties spend the shortest time on the market than any other UK-based city.
A number of prospective purchasers have also agreed to meet with the exhibitions team again next year when we visit the show again, continuing our consistent attendance of overseas exhibitions allowing investors to discuss options over a long period of time and to invest when the time best suits them.
Enquiries from investors were high, reflecting the strong appetite Malaysian investors currently hold for the UK. This increased interest was symbolised most prominently by the purchasing of former Battersea Power Station by a consortium of Malaysian investors, which is set to see it transformed into a house complex boasting nearly 3,500 new homes, shops, cafes and restaurants.
Our attendance at the event further qualified our belief in the importance of overseas exhibitions, which not only serves us in our goal to extend our brand recognition on a global scale, but also most importantly to build face-to-face relationships with investors over a long period of time.
These strong relationships were evident at the iProperty event, with our team arranging to meet clients that they have spoken to on numerous occasions over the past two to three years.
These relationships build trust, and allow investors to see us as a permanent and consistent attendee on the global property scene, intent on helping investors find opportunities most suited to them over a long period of time.