As property prices in the UK have fallen, Chinese investors are well placed to profit from cheaper prices. Traditionally, wealthy Chinese buyers have bought properties in London, especially properties near universities for their sons or daughters to live in while studying in the city. In recent months, however, the trend has shifted to buying purely for investment purposes.
Partner
Moore Stephens
According to Knight Frank, an estate agent, people from Hong Kong and the Chinese mainland are now the biggest overseas buyers of central London new-build property, accounting for one in 10 of all new purchases.
Adding to the attractiveness of buying in the UK is the weaker pound. Falls in the value of sterling effectively mean a 30% price reduction for a Chinese buyer, and with yields of around 4% to 5% many are looking to build property portfolios.
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Kathy Gillen is a partner at Moore Stephens, an international accounting firm, in Jersey
