Asian investors are sweeping up the UK property scene in higher numbers than ever before. It appears Brexit is not putting a damper on things, at least for wealthy Asians looking to invest.
Research from JLL, a property investment firm, shows that Asian investors accounted for 28% of the transactions in the UK property market in 2016, an increase of 11% compared to 2015. Unsurprisingly London is a firm favourite for both wealthy investors and those with long and family links to the capital.
India and China are the biggest investors, with many Chinese companies even buying and investing into football teams and clubs as well as property.
Juwai.com, China’s self-professed leading international property portal, said growth in the enquiries into UK property in the last year has risen by a shocking 60%, with Chinese buyers more and more interested to the UK thanks to the devalued pound.
Sue Jong, the chief operating officer of Juwai.com told the BBC, “A lot of our buyers are the average Chinese mom and pop looking to invest overseas. The large portion is the middle to upper middle class that’s interested in a good stable investment and may be thinking about emigrating or sending their kids to school there.”
