Chinese investor interest in UK property triples

Chinese investor interest in UK property triples

The latest figures from Juwai.com, China’s leading real estate portal, has revealed that enquiries for UK property between February 2018 and August 2018 have tripled compared to the same time last year. This demonstrates the ongoing confidence that Chinese investors have in the UK property market, despite all the negativity in the press surrounding Brexit.

Manchester, in particular, has caught the eye, with enquiry levels in August up by 200% compared to August 2017. In total, it is estimated that approximately £16.6 billion of investment poured into the UK property market in 2017 from Chinese investors and 2018 promises to be a bumper year as well.

Commenting on these findings, Carrie Law, CEO and Director of Juwai.com, said: “Most Chinese still have positive long-term expectations for the UK economy and its property markets. They see the UK as a long-term reliable market offering an excellent lifestyle and enviable opportunities for their children to study, work and live.”

The success of Manchester attracting Chinese investment has already been well documented. With price growth in the city at an all-time high, coupled with yields significantly higher than London, Chinese investors have honed-in on Manchester property to expand their portfolios.

The direct flight path between Manchester and Beijing has also played a major part in the investment growth with a 38% rise in Chinese visitors to the city in 2018 alone.

It will be interesting to see how this develops once all the dust from the Brexit fall-out has settled.