Chinese on hunt for a bargain
It seems it’s not just Chinese tourists that are attracted to the UK – those with an eye for a good investment are also heading to the UK.
Property investment has always been popular in China but, with house price inflation in their home country running at 15% this year, Chinese investors with an eye for a bargain are increasingly looking to the UK housing market. And, surprisingly, it’s not just London that is attracting their attention. Juwai (the Rightmove portal for Chinese purchasers looking for overseas property) reports that other cities, such as Manchester and Leeds, are also popular hunting grounds.
It is estimated that 60 million Chinese people have the money to invest in overseas property, with many also attracted by the lifestyle and education opportunities. But with talk of a property bubble looming in the UK, they will need to act quickly to secure a safe investment.