HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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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.
Link Real Estate Investment Trust (Link REIT) announced that it will acquire a property valued at approximately 380 million pounds (equivalent to ~HKD3.7685 billion) in Canary Wharf, London, UK. The Cabot at 25 Cabot Square will be Link REIT's first acquisition of British assets.
Hong Kong properties are among the most expensive in the world. While a 188-square-feet parking space costs HK$5.18M (£518,000 as of 20 June 2017) here, with the same amount of money, you could buy three or four reasonable size city centre properties in the United Kingdom.
The unstable pound has contrived to aid the property market after Brexit, as overseas investors have made an ever-increasing number of overtures and investments in British property.
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.