Some of the UK’s other major cities such as Manchester and Birmingham are absolutely booming due to a massive influx of foreign and domestic money which is being invested outside of London over the last few years.
The latest research from Savills has suggested that despite Brexit and the forthcoming general election, Asian investors are still in the market to the buy UK residential and commercial property.
- According to Savills, Asian buyers injected £4.5bn of money into Central London’s office market by the end of November 2016, amounting to a third of 2016’s total, much higher than 2015’s figures.
- In research conducted by JLL detailed that Asian financial specialists represented 28% of the exchanges in the UK property showcase in 2016, up from the 17% the prior year.
- Most of the Asian wealth is coming from China, which has been one of the biggest buyers of UK property in the last year, capitalising on the weak pound and economic uncertainty caused by Brexit. According to Juwai.com, China’s leading international property portal
- Juwai.com also reported that growth in the enquiries into UK property in the last 12 months has jumped 60%, and Chinese buyers are increasingly interested to the UK.
While London remains a solid draw for oversea investors many are turning to the powerhouses of other major cities in the UK, pulled in by its reasonable priced property, solid investment fundamentals, and amazing yields which are up to 2-3 greater than what