HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Hong Kong Bill 2019-21 passed First Reading through the House of Commons of UK, it reveals that Hong Kong BN(O) passport holders might be granted the right of abode and even more if the bill passes eventually.
Demand for income-producing residential assets in the UK has risen sharply over the past few years on the back of a burgeoning private rental sector and a desire among investors to diversify into new asset classes offering stable income streams.
Millions of leaseholders will be given a new right to extend their lease by 990 years. Changes could save households from thousands to tens of thousands of pounds. Elderly also protected by reducing ground rents to zero for all new retirement properties.
Manchester and Birmingham will see rises of 20 to 30 per cent over the next three to four years, based on the shape of the regional economy and the trajectory of the current housing market cycle.
While Brexit has caused GBP to falter, Hong Kong real-estate tycoons have been quick to take advantage of the weakened currency to start building their property empire in the UK