Why the super rich favour British property
According to the latest report from property publication Estates Gazette, the combined wealth of the richest 250 worldwide investors has grown to more than £300 billion from £218 billion just in the space of 1 year. That’s an amazing 40% leap in just 12 months and a lot of that success has been put down to property investments.
In the last 6 years the number of billionaires on the list has grown from 10 to 60, with British property investments featuring heavily in their property portfolios. One of the most prominent investors is Amancio Ortega, a Spanish multi-billionaire who owns the Zara fashion chain. Amancio has a wealth of just under £46 billion, £5 billion of which is tied up in UK property investments such as Devonshire House in Piccadilly and several more West End properties.
Another prominent investor in UK property is China’s richest man, Wang Jianlin, who has significant property investments in London’s South Bank.
So why is the UK attracting such interest?
In a nutshell, the UK is viewed worldwide as a safe haven for property investments. With a stable economic and political outlook and a huge demand for property but insufficient supply, the circumstances are perfect for property investors to achieve high returns.
London is still a huge magnet for overseas investors but as prices escalate, more and more investors are turning to the UK’s other major cities such as Birmingham, Bristol, Manchester and Liverpool to build their property portfolios.
To find out more about property investment opportunities across prominent UK cities, please contact us now.