Property investment has become a lucrative opportunity in the UK. Proof of this is the fact that the number of property millionaires has almost doubled in the last three years. In fact many experts worldwide tout the many opportunities for investing in property across the UK.

Research from Hamptons International reveals that the number of property millionaires in London remains high in general but other regions are closing the gap. A year-on-year comparison across UK districts shows that the West Country has seen the biggest rise in the number of applicants looking for properties worth more than £1 million. Compared to data from first quarter of 2007, this is nearly two-and-a-half times, or 134 per cent, as many applicants in the initial quarter of 2008. Somerset, specifically, has witnessed the biggest surge in the number of novel millionaires.

Hamptons International data also shows that 21 per cent of properties have been sold for more than £1 million so far in 2008 while 12 per cent of homes sold in the initial quarter of 2006 were over £1 million. Homes sold at £3 million and above has increased twofold year-on-year since 2005, with 3.5 times more homes sold over £3 million this year than in 2005.

The good news doesn't stop there. Experts at the Urban Land Institute for Europe, Middle East, Africa and India say that the UK capital is an excellent choice for long-term property investment. Many investors worldwide still see London as one of a very small number of genuine world capitals because of the appeal of its fundamental infrastructure assets like airports, rail links and universities that make it an attractive option.

Industry professionals also see Leeds and Newcastle as good options. According to BuyAssociation, these cities represent robust opportunities because there has recently been a lack in rental properties, especially in some parts of Leeds, the biggest financial sector in the UK outside of London. While a lot of building has been going on, there are still more and more people who are looking for places there. Of late, Newcastle has been catching up very fast as well.

Liverpool is another excellent option for property investment. Local estate agency Sutton Kersh said that the city will offer excellent prospects for property investors not just in 2008 but in the coming years, too. One of the reasons for this is that the awarding of this year's European City of Culture status five years ago led to a major rise in people purchasing investment property during that time. Apart from that, Liverpool has been described in a Daily Mail article as one of top ten cities expected to defy the house price gloom this year. On top of this, there is an ongoing large-scale investment going on in the city that gives rise to regeneration which would subsequently make Liverpool appealing to property investors well beyond 2008.

Property investment in the UK presents numerous benefits for those who want steady long term capital growth. In addition to that, it is also an effective way of building long-term wealth.