Despite a lot of the negatives you may have been reading in the press about the property investment market since Brexit, it would appear that Chinese investors are completely unfazed by this momentous decision. In fact, the opposite is true. Inquiries into UK property by Chinese Investors in July following the Brexit result has increased by a massive 40%, according to China’s biggest international property portal.
This is a huge endorsement of the state of the UK property market in the post EU Referendum world. Chinese investors have always seen the UK as a lucrative stomping ground for investing and with the drop in sterling, investors in China have been queueing up to find out more about investing in British property because their money will now go so much further.
Developments within northern cities in the UK have particularly benefitted from Chinese investor interest. With £800 million of Chinese investment money going into Manchester’s Airport City development and much interest being shown in residential developments in the north, Chinese investors are attracted by the high rental yields that can be achieved in cities like Manchester, Leeds and Liverpool.
Of course, London is still a big magnet for Chinese investors, with 5% of all residential properties in the West End being snapped up by Chinese investors. The UK is the most popular location in Europe for Chinese investors and it doesn’t look like Brexit is going to change that fact, which is good news for the property investment industry.