HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Birmingham is a city with a population of 1.2 million approximately and is known as the second city of the United Kingdom Located in the West Midlands region of England, Birmingham is considered to be the social, cultural, financial and commercial centre of the Midlands, and thus becomes a popular investment and moving destination.
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.
The number of applications from China and Hong Kong rose from more than 17,000 last year to 21,000 this year. Student tenants are increasingly an important group for the property market.
From May 2016 onward, there has been a relatively gentle and almost straight-line increase in house prices, despite the Brexit referendum in June 2016.
The new bespoke immigration route will allow BN(O)s to come to the UK without the current 6 month limit, granting them 5 years limited leave to remain, with the ability to live and work in the UK. After these 5 years, they will be able to apply for settled status and, after a further 12 months with that status, apply for citizenship.