Huge Upturn in Chinese Property Investors Post Brexit
Chinese investors are increasingly investing in the UK property market, as a result of the low value of the pound post Brexit.
China’s largest international property portal site, Juwai, said the amount of Chinese buyers venturing into UK property after Britain voted to leave the European Union had skyrocketed by 40%
Chinese interest in property in Britain has been dropping for months, especially after a slowdown in the Chinese market in the first quarter of the year.
In accordance with CBRE, Chinese buyers make up 5% of owners of residential property in London and the UK is typically the most popular place in Europe to purchase property for Chinese investors.
Chinese buyers are particularly fond of flats in northern cities, many of which have high rental returns, due to government aspirations to create a Northern Power house, and are helping assemble it also.
One of the big reasons Chinese buyers invest in the UK is to take advantage of our educational institutions, Chinese parents often buy apartments for their children while they study over here.
So while Brexit may have UK property investors worrying clearly it’s spurred on Chinese investors who clearly have faith in their investments and for now are here to stay.