Recent reports indicate that wealthy buyers overseas are still targeting the UK’s property market as a prime investment location, with experts noting that Hong Kong investors are leading the continuing trend.
Foreign property investors are still seeing the benefits of the British housing market and view it as a safe harbour. Recent data based on Her Majesty’s Land Registry figures indicates that foreign ownership of property here in the UK has risen by approximately 180 per cent within the last 11 years. Additionally, the statistics showed that close to a quarter of a million UK homes were registered to individuals with a correspondence address located abroad.
The study also found that an increasing number of these overseas investors are not companies, but individuals. The foreign investors were spread out over 20 different nations, with the British Virgin Islands, Guernsey, Jersey, the Isle of Man, the Middle East and Southeast Asia all high-ranking locations for buyers abroad.
For a long time, the British housing sector has been a popular choice for Hong Kong nationals seeking investments abroad. The recent statistics clearly show that the largest buyers of UK property from abroad are residents of Hong Kong, who have purchased over 21,300 properties since the year 2010.
Just like foreign investors seeking opportunities in the UK, British consumers can also look for rich returns abroad. Investors in need of financial advice in Chester, Manchester and other major cities often look to wealth managers for an expert eye on potential investments for their portfolios.
