Chinese Property Investors Keep Buying UK Property Despite Brexit
Recent data suggests Asian investors still have a strong appetite for investing in UK property. Despite concerns created by Brexit and the forthcoming general election. A recent report by JLL, has confirmed that Asian investors accounted for a staggering 28% of UK property transactions in 2016. A big jump from the previous year where property transactions from Asian investors accounted for 17%. This trend is predicted to continue to rise, as if you consider that two thirds of the global middle class will be living in Asia by 2030.
Why Chinese Property Investors Keep Buying UK Property Despite Brexit?
Property is a the mainstay of most Asian investors portfolios. With the UK consistently among Asian investors favored locations to buy property. London continues to be a strong attraction, despite prices softening. The general consensus is that London is London. Brexit or no Brexit, UK property will continue to be a safe haven for Asian property buyers. Housing supply currently outstripped by high demand, therefore supporting the price. The clear and strong legal system combined with good growth and yield potential tick the right boxes for overseas investors. Asian buyers attracted by the weakened pound, which has fallen in the wake of the Brexit vote, continue to buy UK property in the droves. Over the last year, Chinese buyers have been one of the biggest buyers of UK property. According to Juwai.com, a Chinese based property portal. Juwai has recorded 60% growth in UK property enquiries in the last 12 months. Which suggests, Chinese buyers are increasingly interested to the UK and undeterred by Brexit. “A lot of our buyers are the average Chinese mom and pop looking to invest overseas,” Sue Jong, the chief operating officer of Juwai.com told me. “The large portion is the middle to upper middle class, that’s interested in a good stable investment and may be thinking about emigrating or sending their kids to school there.” Increasing numbers of Asian investors interested in UK property, despite Brexit.
Chinese Property Investors Keep Buying UK Property Despite Brexit
Recent data suggests Asian investors still have a strong appetite for investing in UK property. Despite concerns created by Brexit and the forthcoming general election. A recent report by JLL, has confirmed that Asian investors accounted for a staggering 28% of UK property transactions in 2016. A big jump from the previous year where property transactions from Asian investors accounted for 17%. This trend is predicted to continue to rise, as if you consider that two thirds of the global middle class will be living in Asia by 2030.
Why Chinese Property Investors Keep Buying UK Property Despite Brexit?
Property is a the mainstay of most Asian investors portfolios. With the UK consistently among Asian investors favored locations to buy property. London continues to be a strong attraction, despite prices softening. The general consensus is that London is London. Brexit or no Brexit, UK property will continue to be a safe haven for Asian property buyers. Housing supply currently outstripped by high demand, therefore supporting the price. The clear and strong legal system combined with good growth and yield potential tick the right boxes for overseas investors. Asian buyers attracted by the weakened pound, which has fallen in the wake of the Brexit vote, continue to buy UK property in the droves. Over the last year, Chinese buyers have been one of the biggest buyers of UK property. According to Juwai.com, a Chinese based property portal. Juwai has recorded 60% growth in UK property enquiries in the last 12 months. Which suggests, Chinese buyers are increasingly interested to the UK and undeterred by Brexit. “A lot of our buyers are the average Chinese mom and pop looking to invest overseas,” Sue Jong, the chief operating officer of Juwai.com told me. “The large portion is the middle to upper middle class, that’s interested in a good stable investment and may be thinking about emigrating or sending their kids to school there.” Increasing numbers of Asian investors interested in UK property, despite Brexit.
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