Skip to Content Skip to Main Navigation

SWIP in the news

Oportunidades en el mercado inmobiliario británico

En su búsqueda de oportunidades y rentabilidades en un entorno económico difícil como el actual, el inversor español puede encontrar en el sector inmobiliario británico una buena opción para ello. Es cierto que tras varios años de considerables ganancias, los inversores han visto cómo los valores de los inmuebles terciarios del Reino Unido han caído hasta niveles que no se registraban desde agosto de 1988 y los mercados de alquiler se han visto seriamente afectados por la peor recesión en 60 años, que ha provocado un descenso de la demanda.

Sin embargo, las rentabilidades mensuales desde comienzos de 2009 indican que el ritmo de caída de los valores de los inmuebles ha comenzado a suavizarse con la progresiva mejora del sentimiento de los inversores. Este hecho nos sugiere que podríamos estar acercándonos al final del ciclo y empezamos a apreciar buenas oportunidades de compra en diversos sectores y ciudades de Gran Bretaña. Entonces, ¿es hora de que los inversores españoles vuelvan a interesarse por los inmuebles británicos? La duda es la siguiente: si lo hacen demasiado pronto, el crecimiento futuro podría verse perjudicado por nuevas caídas de los valores. Si lo hacen demasiado tarde, los compradores podría encontrarse con un mercado muy competitivo. Para nosotros la respuesta está muy clara: el periodo de oportunidad óptima de compra ha comenzado en el mercado británico.

Una de las grandes ventajas de la notable caída de los precios es que las rentabilidades iniciales (la renta dividida por el valor) se sitúan en el 7,8%, un nivel muy atractivo comparado con otras clases de activos como las acciones, los bonos o el efectivo. Los inversores con liquidez han empezado a estudiar esta rentabilidad potencial y están encontrando oportunidades en productos de calidad en ubicaciones atractivas. Como el Reino Unido ha sufrido una contracción más rápida y profunda, los valoraciones en este mercado parecen más favorables que en otras partes de Europa. La depreciación de la libra esterlina también ha acentuado el atractivo de los precios inmobiliarios para los inversores extranjeros. Además, el mercado británico ofrece más liquidez y un marco de alquiler más favorable para los inversores. En nuestra opinión, ahora es el momento de empezar a invertir otra vez en este mercado.

La forma en que se recupere la economía durante los próximos meses será esencial para los mercados de alquiler y para que comience una recuperación a largo plazo en el mercado inmobiliario. Nadie espera ver los mismos niveles de crecimiento alimentado por deuda que han caracterizado a los últimos años, pero están surgiendo buenas oportunidades de compra en inmuebles prime en ubicaciones metropolitanas estratégicas. En SWIP creemos que nos estamos acercando a un punto de inflexión en el mercado: los que inviertan justo antes de que el mercado toque fondo, conseguirán las mayores recompensas.

Compliance

Qualified Professional and Institutional Investor Compliance Information

For use by qualified professional and institutional investors only.  The content of this site should not be accessed by retail or private customers. 


For use by qualified professional and institutional investors only.

The content of this site should not be accessed by retail or private customers. 

Please read this page before proceeding, as it explains certain restrictions imposed by law on the distribution of this information and the countries in which our funds are authorised for sale. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction.

The Scottish Widows Investment Partnership Investment Funds ICVC (SWIP OEIC) is an investment company incorporated in the UK and registered with the Financial Services Authority. It is registered for sale in Spain with the CNMV (registration number 497). SWIP is the Investment Advisor, and State Street Trustees Limited is the Depositary for the SWIP OEIC.

The SWIP SICAV is a company incorporated in the Grand-Duchy of Luxembourg, and authorised and regulated by the CSSF. It is registered in Spain with the CNMV (registration number 633). SWIP is the Investment Manager, and State Street Bank Luxembourg S.A. is the Custodian for the SWIP SICAV. 

The SWIP Global Liquidity Fund is a company governed by the laws of Ireland and authorised by the Irish Financial Services Regulatory Authority. It is registered for sale in Spain with the CNMV (registration number 507). SWIP is the Investment Manager, and State Street Custodial Services (Ireland) Limited is the Custodian for the Global Liquidity Fund.

This does not constitute an offer or solicitation to sell shares in any of the funds referred to on this site, by anyone in any jurisdiction in which such offer, solicitation or distribution would be unlawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.

Applications to invest in any fund referred to on this site, must only be made on the basis of the offer document relating to the specific investment (e.g. prospectus, simplified prospectus or other applicable terms and conditions) and in compliance with the Spanish legislation applicable to the distribution of the funds referred to on this site in Spain.

As a result of money laundering regulations, additional documentation for identification purposes may be required when you make your investment. Details are contained in the relevant Prospectus or other constitutional document.

If you are unsure about the meaning of any information provided please consult your financial or other qualified professional adviser.
The information contained on this site is subject to copyright with all rights reserved.

You may leave the Scottish Widows Investment Partnership Limited website when you access certain links on this website. In so doing, you may be proceeding to the site of an organisation that is not regulated under the UK Financial Services and Markets Act 2000. Scottish Widows Investment Partnership Limited has not examined any of these websites and does not assume any responsibility for the contents of such websites nor the services, products or items offered through such websites.

Scottish Widows Investment Partnership Limited shall have no liability for any data transmission errors such as data loss or damage or alteration of any kind, including, but not limited to, any direct, indirect or consequential damage, arising out of the use of the services provided herein.

On accessing the Scottish Widows Investment Partnership Limited (SWIP) website, you are aware of the following investment risks applicable to all SWIP funds:

     • Past performance is no guarantee of future performance. 

     • The value of investments and the income from them may go down as well as up and are not guaranteed. 

     • You may not get back the amount you invested.

     • Taxation rules and legislation may change without notice. 

     • Rates of exchange may cause the value of investments to go up or down. 


Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. For your protection, telephone calls are usually recorded. This site is operated and issued by Scottish Widows Investment Partnership Limited which is authorised and regulated in the UK by the Financial Services Authority (Register number 193707). You can gain access to the FSA's rules and guidance notes from the following link: (www.fsa.gov.uk)

 
Untitled_1

Scottish Widows Investment Partnership Limited (SWIP) is registered in England and Wales, Company No. 794936, VAT No. 244 1555 76. Registered Office is at 33 Old Broad Street, London EC2N 1HZ, UK. Tel: +44 (0)131 655 8500 international@swip.com. SWIP is authorised and regulated in the UK by the Financial Services Authority and is entered on their register under number 193707 (www.fsa.gov.uk).