Overseas Investors cashing in on UK property
Investors from Hong Kong and Singapore are cashing in on the opportunities provided by a drop in the value of the British pound and increasing rents in the UK buy-to-let market.
Grant Property, leading UK based property investment company, reports a surge of buyers from Hong Kong and Singapore as new and existing investors add to their buy-to-let property portfolios.
An increase in rents as high as 15% over the last 12 months alone, combined with steady capital growth of up to 7% per annum, are factors which are making UK property an appealing investment prospect.
Managing Director of Grant Property, John Moran, said: “We are seeing a huge demand from overseas investors, some looking to buy multiple properties each. In the last year we have sold over £38 million worth of properties to overseas investors
From Hong Kong and Singapore alone, we have dealt with over £14m worth of transactions in the last 12 months. Investors see the uncertainty of Brexit as an advantage and are capitalising on the opportunity to snap up traditional flats in UK cities, particularly where there is a student population.
Moran goes on to say: “Students are a big factor. UK universities and colleges are very popular with foreign students and UK students alike, and student accommodation is not subject to the same economic or political influences as the rest of the property market. Even in a recession, occupancy is very high, so rentals are virtually guaranteed.”
Overseas investors in UK property are now outnumbering UK investors and, according to Moran, that is likely to continue. “Most of our enquiries are coming from abroad now and that is showing no sign of changing.”
Grant Property sources, renovates, furnishes and manages traditional UK properties on behalf of investors.