The world is an expansive place of opportunity, and the global property market is no exception, with investment rising by 13.2% in 2017. Last year also saw an increase in UK house price growth in particular, with London attracting more international property investment than any other city across our globe.
Here, we take a look at investing in property in the UK, as well as the rest of the world, to determine the most popular countries in this clearly incredibly lucrative market.
UK house price growth and rising investment
The UK house price growth may be perplexing to some, but it is easily explained by the lowering exchange rate of the pound. This results in the UK being a more affordable opportunity for investors.
Statistics from IP and YouGov revealed that 75% of the international members of the public they surveyed listed the UK as one of their top three countries to invest in. Demand for UK property investment particularly escalated in Hong Kong and Singapore from 2016 to 2017, with a year-on-year increase of 6% and 1% respectively.
London’s capital status has always meant that property investment in the city is exceptionally appealing. However, there is a high attraction to the North also, and this region could overtake the South in the impending years.
LSL Property Services stats showed that the North West has the fastest rate of property growth, with Blackburn, Warrington, Merseyside, and Greater Manchester all seeing significant increases. With the government’s Northern Powerhouse only set to boost economic growth further, it is understandable why property investment in this region is so attractive.
Investment trends in countries outside of the UK
According to Cushman & Wakefield, Asian investors accounted for 52% of the global market. This exceptionally high percentage was owing to a few substantial transactions. In Europe, their investment rate rose by 95%. Although there was a minor reduction in the amount of local buying for this continent, they did attract half of the total of cross-border spending.
The IP/YouGov survey uncovered that Australia is one of the most favoured investment locations, with every country listing it in their top four. As well as this, their report showed that 35% of Singapore respondents would contemplate investing in Australia.
30% of those surveyed that reside in Hong Kong said they would invest in Japan. Canada also proved popular, with 20% of UAE respondents, 17% of those in Singapore and China, and 13% of Brits favouring it as an investment country.
Like with the UK house price growth, these countries are popular for a reason: they have prosperous cities which can thrive and achieve economic growth.
If you’re thinking of investing in international property, then it is good to consider these statistics, as well as how you are going to finance your mortgage. Liquid Expat Mortgages are dedicated to helping you secure the very best deals, and our experienced consultants can provide any advice and support you need. Enquire today to request a free quote from our experts.