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Majority of property investors work in technology industry
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
The majority of property investors included in a recent survey work in the technology industry.
New research carried out by leading UK property developer SevenCapital looked at different industries across the world, with participants from the UK, Hong Kong, UAE and South Africa.
59% of the investors surveyed responded that they invest in property. Of these, 23% work in IT and Telecoms. Next to this, 19% are property investors working in finance-based professions.
At the other end of the scale, those least likely to invest in property appear to be those working in Arts and Culture. Under 3% of property investors work in this sector.
SevenCapital poses the question: “What is it that those in the technology industry – the fastest growing industry, known for disrupting many other industries – see in old fashioned bricks and mortar as a good investment?”
Is it a coincidence that these interesting statistics come at the same time it is revealed that the UK’s tech industry has secured record levels of foreign investment – overtaking the US for the amount of investment per capita – and UK PropTech has finally begun to gain ground?
Andy Foote, director at SevenCapital comments: “The easy correlation would be that property, requiring a higher initial investment but that over the long-term has the potential to deliver the highest, stable yield, may be more quickly accessible to the industries that are doing well financially.
“However, maybe there’s a closer correlation between
“On the other hand, given the tech industry’s natural stance as a leader of innovation, certainly in recent years proving the power technology offers to move and improve other industries, are those in this industry ahead of the game with future trends?
“Whilst we’ve seen increased nervousness around property investment over recent years due to various tax changes and, for some cases, the uncertainty of Brexit, could it be that those working on transforming the industry through tech advancements have more confidence in how the market will perform in the future? It’s certainly an interesting concept.”
IT and Telecoms and Finance industries were also the most confident about property investment in the future.
