The super-rich can’t get enough of UK property

The super-rich can’t get enough of UK property

A recent report from UK property publishers Estates Gazette illustrates that there has been a leap of 40% in the wealth of the richest 250 worldwide investors in the last year. Their combined wealth is now a staggering £300 billion and this has grown from £218 billion just in the space of 12 months. Much of this growth has been put down to property investments, many of which have taken place here in the UK by overseas investors.

The UK has always been seen as a safe haven for investors and the super-rich are honing in on luxury properties both in the commercial and residential sectors.

Two of the most prominent investors in UK property are the richest man in China, Wang Jianlin and Amancia Ortega, a Spanish multi-billionaire who owns the Zara fashion chain. Wang Jianlin has significant property investments throughout London, particularly in the South Bank area and Amancia Ortega has a property portfolio in West London which exceeds £5 billion.

With its stable economic and political outlook and of course, the serious under-supply of housing, the super-rich can’t get enough of UK property because of the high returns that can be achieved. London is still a massive draw for wealthy investors, but increasingly investors are looking outside of the capital to achieve higher yields. Cities such as Birmingham, Manchester and Liverpool feature prominently and with the emergence of the Northern Powerhouse and HS2 on the horizon, super-rich investors are starting to take a significant bite of the cherry outside of the capital.