Since the Chancellor’s latest budget announcements make purchasing buy-to-let properties an unappealing choice in London, many Islington residents are queuing to find a great deal on the Syrian property market. The hot weather and the vibrant atmosphere makes now the best time to invest in the Syrian property ladder.
As bombs continue to drop on regions of Allepo and Damascus, property prices have also continued to drop, making this nation a hotspot for investors. Whilst some might say the terrorist destruction and high probability that your new property might be rubble by Christmas might make it a risky investment, these forward thinking property developers think it’s ripe for opportunity. Jane LeFeen, of Holloway Road, told Islington Echo that she thinks “now that Daesh seems to have come to take away ISIS that soon things will be a bit calmer or maybe Assad will come back and he’ll be good again or something. I don’t know. But like, I reckon, if my new three bed villa can just withstand another year or two of bombing then I’ll be quids in when Damascus is the new tourist haven.”
Indeed, other previously war-torn regions have made themselves into excellent tourist destinations, such as Sri Lanka and Cambodia. A man named ‘Kev from down the road’ told one of our reporters that things might die down a bit in Syria at some point probably. Furthermore, even if ISIS win, that won’t stop it being a great investment opportunity, because the continuing production of oil will mean they will develop a thriving economy, even if no local people are able to live there anymore due to constant fear of death. Some investors have even suggested buying multiple villas and homes in the region, claiming that at current prices and the frequent bombings, bulk buying property is the best way to sure up one’s investment.
We asked numerous investors if any of them had visited their new properties in Syria, but none of them had, stating that it was more of a “sitting investment”. It was also suggested that they could rent out their homes to displaced Syrians, but this was rejected as it might hamper the “new feeling” of their properties which could hamper the resale value.