HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Tourists from Hong Kong and mainland China have started a trend. As London becomes too costly, Manchester – beneficiary of “northshoring” – has emerged as an attractive destination.
UK house prices are up +8.1% in the year to October, taking the average UK house price to £259,100. Of the UK’s largest cities, Nottingham has the highest price growth at +10.9%.
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
Hong Kong residents are buying more houses and apartments to lease out for income in Britain, and have became the fifth largest foreign investors in central London as of last August, driving up prices in some popular districts outside the UK capital.
While UK and Australia properties gives decent rental income and impressive capital appreciation, Hong Kong investors target them also for their next generation.