Andreas Panayiotou backs buy-to-let again

Landlord Expert
By Landlord Expert August 6, 2010 12:05

He may be splashing out £60 million to help develop a chic west London hotel with a butterfly house in the reception, but Andreas Panayiotou still has an eye on the buy-to-let market that was the foundation of his fortune.

 

In a rare interview, Panayiotou, who was one of the few to call the top and bottom of the market, said: ‘Residential property is very safe. It will be good long term. There’s a shortage of housing, and developers have stopped building.’

 

His predictions carry weight. Panayiotou, 44, born in the East End of London to Cypriot parents, warned in 2006 that a crash was imminent and began cashing in his £1 billion portfolio. Property prices tumbled more than 20 per cent between 2007 and 2009.

When economists made apocalyptic predictions in the spring of 2009, he revealed he was buying back in as he could earn more in rent than from the bank. A powerful recovery followed, which saw prices rise ten per cent in the year to April.

Even now, with the recovery faltering, Panayiotou is confident the worst is over. For would-be property investors he offers three rules - put down a 35 per cent deposit at least, buy only properties that are 30 per cent below their peak and look for a rental income yield of seven per cent.

Panayiotou, who started by developing a flat above his parents’ launderette, said buyers should expect capital increases of one or two per cent a year.

Watch the interview highlights at  thisismoney.co.uk/andreas

 

Landlord Expert
By Landlord Expert August 6, 2010 12:05

Membership Login

Register| Forgot Password?

Recent Member Comments

  • User AvatarJohn Walters { need advice on a difficult situation please. I have a very difficult and aggressive tenant in Bolton who refuses to pay rent or move out... } – Jun 01, 10:41 AM
  • Philip Haworth { Is there a letter to raise order for possession of the property. }
  • User AvatarLandlord Expert { We do not know of any issues. There have been 3 questions submitted today and have been published although I see none for you. Providing... } – Apr 20, 4:51 PM
  • User AvatarJazz Sounds { Is something wrong with your site? In your "ask a question" section I am unable to post my question. I am also unable to view... } – Apr 18, 10:37 AM
  • User AvatarDiane Lo { Tenant sublet his room to airnub guest without my knowledge. The airnub guest injured her foot and is now trying to claim compensation from us.... } – Apr 05, 10:55 AM
  • Older »

News Archive