UK property investment top choice for Hong Kong nationals and expats

 

The number of UK buy-to-let mortgage completions from Hong Kong residents soared over the past year according to new figures.

Enquiries into the UK from Asia for expat mortgages have been increasing over the past couple of years, according to Skipton International, with much of the interest coming from Hong Kong where property prices are the most unaffordable in the world.

With the average home in Hong Kong now costing 19.4 times the typical local salary according to figures from Demographia, homeownership levels there are among the lowest globally – and many residents are looking to the UK’s property market as a more lucrative investment spot.

In 2017, Skipton saw a huge 65% rise in buy-to-let mortgage completions from Hong Kong investors compared to 2016, and the company says it has seen further rises in 2018 so far.

A cheaper alternative

Nigel Pascoe, director of business development at Skipton, believes that UK property remains an attractive option for those living in countries where buying is simply not an option.

“Familiarity with the UK market and maintaining a tie with their homeland are all reasons why expatriates are finding comfort with UK property investment.”

He added: “The expat market is something Skipton International has lengthy experience and expertise in and we are always looking at how we can make our mortgages and savings more accessible for those British residents working abroad.”

Hong Kongers heading to Manchester

It’s not just British expats who are investing back into the UK property market. A growing number of Hong Kong nationals have also been looking to the north of England, and Manchester in particular, for their next investment opportunity, according to Mallam Grant, head of the Hong Kong office at Alliance Investments.

While London is still a more familiar investment choice for many, the capital’s lower yields and stagnating property prices have meant that Manchester’s popularity is soaring among international investors. The city centre is evolving and expanding rapidly with new business districts and modern residential areas continuing to pop up, creating a major economic shift in the area.

In contrast to London, Manchester has some of the highest yields in the country, with house prices there also expected to strengthen in line with the high levels of local investment, and it is proving an increasingly enticing option for Hong Kong buyers.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

hong kong

UK property investment top choice for Hong Kong nationals and expats

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.