UK property markets are still pulling in the punters, irregardless of the recent tightening on overseas investment by Beijing London continues to attract sizable interest from Hong Kong and mainland China.
This is in no small way due to the profits margins on UK property specifically in the capital which are more generous than what would be seen in domestic property investment.
This continued investment is predicted to start growth momentum rolling again, according to IP Global, an end-to-end property investment service provider.
“The prime London market has been slowing for the last two years. The transaction level is low as very few people are buying and selling.
“Some buyers are hesitating because of the high purchase prices and transaction costs, while some others have adopted a wait-and-see stance as the UK prepares to leave the European Union. ,” Jonathan Gordon, distribution director at IP Global, told Asia Times in an interview.
This wait and see strategy will not be around long as experienced property investors looking for long term investments see this as the perfect time to buy, with no safer place to put your money than the UK property markets.
Jonathan referred to the recent purchase of the “Walkie Talkie building” for a record $1.75 billion as a marker of confidence investors hailing from Hong Kong and China, He went on to say “If you can get a little bit of a discount on sterling against the US dollar, the UK is attractive for long-term commercial investors.”
London is not the only city in the UK to attract attention from foreign investors with Manchester, Birmingham and Liverpool all seeing an uplift in property investment.
“A lot of these areas cannot keep up with a sufficient supply of property developments. From an investment standpoint, that’s a good thing,” he said.
Cathay Pacific Airline now have direct flights from Manchester to Hong Kong, the only British airport other than London to have non-stop flights to Beijing.
For more property investment detail information, please visit DevDosh Ltd today.