Britain witnesses renewed demand for apartments in city-centre, Rightmove says
May 20, 2021, 2:01 pm

Britain witnesses renewed demand for apartments in city-centre, Rightmove says

By Reteurs Staff

Demand is returning fast in Britain for apartments and other city-centre property, which buyers had avoided during the coronavirus pandemic in favour of big houses in rural locations, a survey showed on Thursday.

Online property portal Rightmove said buyer interest for apartments had risen by 39% since January, based on the number of times people contacted estate agents about properties.

Demand for city-centre housing in general has risen by 35%, compared with a 32% rise in demand for housing in villages.

The survey adds to signs that the British property market’s pandemic boom has persisted with help from finance minister Rishi Sunak. In March’s budget he extended a cut to property purchase taxes and announced a new mortgage guarantee scheme for first-time buyers who cannot afford large deposits.

“These are early signs but they certainly point to some good news for city centres across Great Britain, with a number of agents now telling me they’ve seen a marked uptick in demand from first-time buyers,” Rightmove’s director of property data, Tim Bannister, said.

Official data published on Tuesday showed house prices rose in March by more than 10% in annual terms - the biggest increase since August 2007. The Office for National Statistics also said prices of detached houses rose by 11.7% in the year to March, compared with an increase of 5.0% for flats and maisonettes.

Since then, Prime Minister Boris Johnson allowed non-essential shops, pubs and restaurants to reopen. Almost all restrictions are due to end in late June.

“People starting to venture into their local high streets and once again experiencing the buzz of their city centres, along with greater mortgage availability for first-time buyers, means city centres are staging a much-needed comeback,” Bannister said.

Source: Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”