Why Off-Plan Properties Are a Risky Investment

[@zrymill]

The UK sold out her own people to rich foreigners. What is the point in doing that? House your own people first, Singapore does that by building homes and selling them or renting the to their own people. Foreigners have to pay more.

[@MontyStreetsOfLondon]

Top comment seems like you have experience and may have lived in Singapore..?

[@davygeorge3471]

London is just going down hill rapidly. No one that comes respects the place and litter etc. Even the nice areas are looking terrible.

[@MontyStreetsOfLondon]

An example is seeing local UK people throwing litter out of their cars is a mentality that needs to be nurtured..

[@davygeorge3471]

@@MontyStreetsOfLondon every person littering in London that I see, I confront. It’s rare that they have a British accent.

[@davygeorge3471]

@@MontyStreetsOfLondon anyway, as I said it’s not just about litter. Even the so called nice areas are in a terrible state compared to 10-20 years ago. And no one speaks or says thanks or anything. When I go to other similar sized cities like New York people start conversations etc.

[@antnam4406]

@@davygeorge3471no one cares about accents! That’s not paying the bills.

[@davygeorge3471]

@@antnam4406 you’ve missed what I was saying

[@rashidsenhaji6924]

This is shocking! I personally know 2 people who have both lost a lot of money on new builds they bought off plan. I wish they had seen you content before they purchased.

[@MontyStreetsOfLondon]

I've researched one of the projects I highlighted one buyer purchased a unit for 16M and are stuck..!!

[@blueocean2510]

A good lawyer may be able to bring legal action to get a redress, and refund of losses. Good luck.

[@evgeniynagornyak1150]

​@@MontyStreetsOfLondonthe properties are fully furnished. Marble throughout. Food. Fittings from Dubai, Germany, Italy. All expensive, the best quality. What do you expect ? To sell it for nothing.

[@evgeniynagornyak1150]

Wood. . Garage, swimming pool, jacuzzi, gym. All without gets out of the building

[@simonrodgers9105]

Always knew this was an over rated scam and as more people are now leaving BROKEN LONDON many more will hit a loss......

[@MontyStreetsOfLondon]

London has sub markets off-plan is just one, family homes in re-gentrification locations is resilient..

[@TalkiesTesla]

​@@MontyStreetsOfLondon Can you point some of these location ?

[@asventa9731]

Complete nonsense the rental market is going gangbusters

[@zrymill]

Very interesting video, I didn't know London built so many high rise apartments. They actually need alot more of these. Should get the Singapore government in to build them, they know how to house their own people.

[@georgeyung3546]

Many years ago I was planning to buy a flat in London. Strangely the manager at the sale was a old friend that I knew 40 years ago. He offered my 6 to 10% discount for a flat. Depending on the rooms. But it fell through, because I just wanted a 1 bedroom for my daughter to live in for her university studies. And all 1 bedroom flats was sold out. 6 to 10% off straight away. But those flats that I was interested in are selling below the retail price now on the second market.

[@MontyStreetsOfLondon]

Some friend he turned out to be..!

[@colbr6733]

This is true, I was in Singapore and Malaysia regularly between 2005 and 2015 and was invited to a couple of these presentations. The presentations were brilliant. Focusing on long-term stability in the UK regardless of which government was in power, distances to universities and the City of London. All very well put together, not forgetting the level of uncertainty that was around regarding how the Chinese government were behaving at the time in Hong-Kong.

[@MontyStreetsOfLondon]

It’s still going on now we even have oversees projects being offered in the UK

[@fanfayer]

😢😢 boo hoo you poor greedy people

[@MontyStreetsOfLondon]

Many regular people just wanted a place for their children university years whilst others were defo greedy..!

[@iandemontfort4276]

All of the property sales floors are lying. I've turned down three jobs as a property broker due to inflated prices and a general lack of morality by developers.

[@MontyStreetsOfLondon]

Good on you something better will materialise if not already done so yet..!

[@iandemontfort4276]

@@MontyStreetsOfLondon Cheers Monty. Respect to you 👍🙏

[@saimamuzaffar8702]

Very informative. Great video 👍 I can’t believe I have just seen. Shocking!!

[@MontyStreetsOfLondon]

Reality for many investors unfortunately..

[@hamzaalavidxb]

Very well put together & informative video! How do you find the Dubai's off plan market? Compared to top metropolitan cities, currently Dubai's off plan market is low-risk, and fair valued according to latest UBS reports and investors are seeing great capital appreciation prospects especially in new developments in emerging areas such as near Expo City, Dubai South, Palm Jebel Ali and other areas which are near the upcoming airport with over $35 billion investment in its expansion plan

[@AjazNawaz]

Shocking. I would never have expected losses as illustrated in you fact based content ☑️ thanks Monty !

[@MontyStreetsOfLondon]

Crazy numbers many casualties including brits..

[@justjacqueline2004]

Cities outside London,like Liverpool,did the same and then poof!

[@MontyStreetsOfLondon]

Crazy..!!

[@georgiosparaskeva8038]

London properties are overated/overpriced, even hotels are overpriced, recently i stayed in a 3 star hotel near central line, 100 pounds per night, with this price you can stay anywhere in Medoterranean in a 4-5 star hotel, most of the 3-4 star hotels in London don't even deserve to have a star if you compare them with Mediterranean 3-4 star ones. Even if you buy an apartment in any building with concierge/security, the additional expences are close to 3500 per year, and God knows about the council tax that nobody talks.

[@MontyStreetsOfLondon]

Hotels are booming globally with more people able to travel..

[@georgiosparaskeva8038]

@@MontyStreetsOfLondon most of the London 3-4 stars hotels are overpriced, some they don't even have elevators, the subject is not traveling but London's properties, apartments, houses, hotels. They don't worth the money, plus the taxes, expenses, all too much, is the perfect place if you have money for laundry, as a lot of business in London exist to laundry money.

[@florinserbabh4560]

Dear Sir, I built my town house in East London, Forest Gate. The house has been rented out for 5600 a month as a HMO. I wanted to sell it 2 years ago for 900k and no buyers. When would it be a good time to try and sell again and what would be a decent price to ask for such a property? Kind regards

[@MontyStreetsOfLondon]

There are many landlords trying to exit at the moment. Your hmo at 900k offers 7.4% ideally needs to offer min 10% for professional investors to consider. They will also look at low capital appreciation in Forest Gate as it’s not hugely gentrified and no real regeneration plans. Great green open space, some nice gentrified houses but it’s long and slow as a location in my humble opinion.

[@johnmurphy4814]

I used to buy HMO'S based on ROI of 9% & 11 month occupancy, this because HMO can have empty periods. If there is good history of occupancy rates, I would likely go with 11.5 months. Either way, you're topping out at the £685k to £699k if you really want to sell it - I'm not in the market currently but that was a reasonably risk/reward, especially as agency fees have increased substantially since they can no longer charge tenants for the compulsory checks, inventory etc... Agency fees alone can eat up 12 to 15% of the rent received...

[@florinserbabh4560]

@@johnmurphy4814 thanks for your message. This house hasnt had a day empty in ages.

[@flyinghedgehog3833]

The SE Asian investors are used to off plan buying at home..often buying whole floors etc..if they can't find tenant they just leave empty...hi from KL.

[@MontyStreetsOfLondon]

Same applies in KL so many people have lost money in KLCC developments which have not gone up in over 10 years would you agree..?

[@flyinghedgehog3833]

@@MontyStreetsOfLondon for sure,huge overhanging market here.Being from London I've steered well clear of those properties. Incoming RRB will cause more problems for everyone.

[@tufsoft1]

When I lived in China the law was that a foreigner could only buy ONE apartment and then only if they had a work permit and could prove they had been living an working in China for over a year. One can only imagine what would have happened to the Chinese property market if foreigners had been allowed to buy property as an investment. Prices would have hit the moon, and western economists would have lauded China as the most successful economy in the world, albeit with an inexplicably large number of people sleeping on the streets.

[@MontyStreetsOfLondon]

Top insight didn’t know that..

[@micol2434]

They didn't need foreign investors to build empty cities and inflate a nice bubbles, Chinese real estate market doesn't seem to be doing too well at the moment..

[@freeatlast.]

Surly this is going to have a knock on effect for locally owned property prices.

[@MontyStreetsOfLondon]

For learning and to help others learn confirm your thoughts on how..?

[@freeatlast.]

@@MontyStreetsOfLondon Groups have over paid for years creating the perception for greater local high prices, increasing low and no income and over population of London will mean more folks gradually moving out.

[@mrjohncharlesbrown]

Thanks for this, I knew that many Chinese and Asians were buying off plan, in inconceivable properties in areas of London I moved away from

[@curtiswong2519]

Monty thanks for this informative clip. What is the best way to gain better Sales Result, by way of Conventional Method OR Under the hammer (Auction)?

[@MontyStreetsOfLondon]

Curtis, my next video will be about how badly these properties are marketed. Stay tuned..!

[@antnam4406]

Good! They should pull out and those living in London can afford to rent or buy.

[@florencetou7217]

Buying a property in London is not only buying in the currency GBP but also gambling the future economy of the country.

[@MontyStreetsOfLondon]

Nice feedback Florence, stay tuned for next video why these properties cannot resale..

[@oneeleven9832]

You gotta be off your rocker to buy in a UK city…any city..

[@MontyStreetsOfLondon]

Depends what and where you buy..

[@SA-cloud]

Monty, you're replying to every comment??? Wait until you hit 100k subscribers 😆 I remember back in 2000, a Malaysian friend of mine said "London, great past, but no future" - I thought it was a bit harsh at the time, but slowly I'm seeing what she meant. The situation you described seems pretty slick, almost like a sting.

[@MontyStreetsOfLondon]

It's all part of the journey..

[@SA-cloud]

@@MontyStreetsOfLondon I guess so...but looking at some of the questions/your answers, it's probably better to collect a number of questions and address them in a video, that way more people see it, and you get more subs.

[@NicholasRoss-l7u]

PEOPLE REQUIRE HOMES NOT INVESTMENTS - The UK sold out her own people to rich foreigners. What is the point in doing that? House your own people first, Singapore does that by building homes and selling them or renting the to their own people. Foreigners have to pay more. 6 Reply

[@MontyStreetsOfLondon]

We need more affordable homes, youth centres, sports facilities, community centres, parks and so much more can be achieved by the UK government.. 80% of Singapore live in HDB/Government housing with community facilities including, schools, shops, play and much more..

[@sonarbuge7958]

Noooo not the billionaires losing some money 😢😢 what will they do poor things

[@andie9150]

i don’t know how these developers got away with it for so long

[@MontyStreetsOfLondon]

Deal packaging at it's best..!!

[@chaz4609]

Jai Hind. We Indians with rising property equities should be able to bail out those stressed out overseas investors in UK to show Xi the way out of his property doldrum.

[@MontyStreetsOfLondon]

I have a few desperate ones you can DM my insta @montynawaz

[@NicholasRoss-l7u]

BAN ALL FOREIGN OWNERSHIP - BAN ALL BUY TO LET

[@MontyStreetsOfLondon]

It's only since 2015 that foreign investors pay CGT on property profits..

[@habibunisabano3473]

God help you God bels you god infrmeth

[@MontyStreetsOfLondon]

AH

[@habibunisabano3473]

A H 🙏🤲💗