Over the last few years the number of UK buy-to-let mortgage completions from Hong Kong residents has grown hugely.
UK Property Hong Kong. New figures have shown property enquiries from Hong Kong for UK have grown considerably and as a result so have expat mortgages mortgage completions.
According to a number of major expat lenders, Hong Kong has incredibly high property prices which is causing a lot of would be property investors to look to the UK for real value and security. As the average home in Hong Kong now costs over 19 times the typical local salary and home ownership levels are among the lowest globally, it’s no wonder many Hong Kong residents are looking to the UK’s property market.
One major lender saw a 65% rise in buy-to-let mortgage completions from Hong Kong in 2017 compared to the same period in 2016. 2018 also saw further rises again and there are no signs that UK property investment for expats is likely to slow down any time soon.
UK PROPERTY REMAINS AN ATTRACTIVE INVESTMENT
UK property remains an attractive investment option for those living in countries where buying is too expensive or where as an UK Expat you will be coming back to the UK at some stage and you want to get ready for your return.
Liquid Expat Mortgages has over 12 years experience in providing mortgages for UK Expats and foreign nationals and has an office in Hong Kong to meet the increased demand for UK property. Rebecca Devany of Liquid Expat Mortgages is the Senior Mortgage Consultant for Hong Kong and Asia and she is clearly excited by the growing demand for UK property from this part of the world. “Liquid has responded to the growing demand for UK Property Investment and finance needs amongst Expats and the wider Chinese investor audience by opening its first office in Hong Kong. My new role allows me to enjoy full support from a qualified, experienced and multi lingual team, which for the record also includes Chinese- traditional and Simplified Mandarin as well as Cantonese.”
Rebecca continues to add that it’s not only UK Expats who are investing back into the UK property market but an increasing number of Hong Kong nationals are purchasing UK properties. Properties in the North of England have been actively targeted with Manchester being one of the cities which has seen high levels of completions from UK Expats and Hong Kong nationals. Rebecca continues to state that “We have seen continued growth in demand for BTL products from both UK Expats and Hong Kong nationals as demand for UK property in cities such as Manchester seems to be increasing.
We have been able to partner with numerous property well respected property developers in order to assist with providing mortgages and helping customers find a strong investment opportunity. There’s no doubt that Manchester has soared in popularity as people have looked to invest in lower priced property with higher returns than is currently available in traditional property investment strongholds such as London. What’s more cities such as Manchester, Leeds and Liverpool provide great bases for people attending higher education as the universities in these cities are well respected and many graduates are staying on in these cities as employers are recognising the quality of the graduate talent.
These are exciting – and potentially lucrative times – for property investment especially in cities such as Manchester where Ernst & Young predicts that employment in Manchester will grow at 1.2% between 2018 and 2021, the best rate of all areas surveyed, and continuing to attract high levels of foreign direct investment.
“The Northern Powerhouse – or growth of the Northern cities such as Manchester, Leeds and Liverpool- is all about boosting the local economy by investing in skills, innovation, transport and culture, as well as giving the major cities in the North of England the power to make their own decisions and run their own budgets. By devolving power locally the major Northern cities have made great strides in improving transport infrastructure locally plus great links nationally. Manchester to London can be achieved in a touch under 2 hours via train and Manchester Airport is the largest UK airport outside London and is the thirteenth globally for total destinations served. The continued growth of international connections has helped propel Manchester into a globally renowned city and one of the most desirable places to live and invest. We have certainly seen an increase in mortgage enquiries from UK Expats in Hong Kong and the surrounding countries, as well as local Hong Kong residents who are aware of the opportunities and returns of investing in UK property”
Liquid Expat Mortgages’ provides mortgages to British Expats and Foreign Nationals for Residential and Buy To Let property throughout the whole of the UK.
For further information contact:
Telephone: + 852 3960 6300
Liquid Expat Mortgages:
Telephone: +44 (0)161 871 1216
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