James Pendleton launches international desk
Estate agent James Pendleton has launched an international desk in order to meet an expected increased demand from overseas buyers post-Brexit.
The agency predicts that strong demand from international investors will result in residential prices rising by 5% in London this year.
This is despite a strengthening pound and predictions that the London residential market could record a decline in demand as people look to purchase properties with more space outside of the capital.
Urosh Teodorovich, a property expert who recently joined the firm, will head up the division.
Teodorovich will specialise in providing a service for buyers primarily originating from Hong Kong, China, Saudi Arabia and Dubai.
Lee James Pendleton, co-founder of agent James Pendleton, said: “It’s with great pleasure we bring on board Urosh with his wealth of knowledge and experience of overseas buying clients.
“The international desk is going to dovetail with our new homes division, which continues to attract a strong international audience.
“There doesn’t appear to be a lot of consensus at the moment as to which direction the UK and London markets will take.
“We stand in the more optimistic camp because we see the current headwinds as completely different in nature to the financial crisis, which is the last event that precipitated a significant decline in valuations.”
Teodorovich added: “London continues to be a top choice for international investors and the ongoing pandemic has not changed that.
“London remains a truly global city with a stable political system, world-class public facilities and universities, a highly liquid market with reasonable property purchase and holding costs, as well as sustained population growth.
“I’m extremely pleased to be at the front of the international department of James Pendleton and look forward to providing the very best service for investors along with joining a sterling team of professionals.”