Chinese interest in UK property market spikes despite Coronavirus

Covid-19 has undoubtedly hit the UK economy hard with retail
sales suffering a historic
fall, airlines struggling and some of our favourite high street stores closing
for good. However, it’s not all bad news, according to Emerging Communications,
a Chinese marketing consultancy, Chinese investor interest has spiked in the UK
property market. The consultancy predicts that a Chinese-led house buying boom is
about to take place in the UK.

Despite the ongoing Coronavirus pandemic, the property
market continues to prove its resilience and strength, especially to overseas
investors. The UK buy to let market is often viewed as a safe option for
overseas investors.

The Bank of England have cut interest rates to the lowest
level in history and the pound has dropped against the dollar. Whilst Sterling
has suffered during this instability, other major currencies are performing
well, making property investment an attractive option for overseas investors
looking for a good deal in the UK buy to let market.

Domenica Di Lieto, CEO of Emerging Communications, highlights
that the recent drop in sterling and China’s recovery from the virus, has ignited
Chinese interest in buying residential property in the UK.

Chinese students drive UK property purchases

Research undertaken by Higher Education Student Statistics,
highlights that the UK is China’s number one destination for students studying
abroad. There are more than 120,000 Chinese students studying at universities
in the UK, and this has grown by 10% in recent years, accounting
for more than one in every three non-EU students.

Due to the high number of Chinese students in the UK, it is
of no surprise that the majority of Chinese investors purchasing UK properties
are the parents of children studying. Apartments and houses are bought for use
while children are at university or for investment purposes, with Chinese investors
recognising the high returns UK property investment presents.

Britain’s popularity for overseas students has also been
undoubtedly boosted by the Conservative government’s extension to the post-study
overseas student work visa to two years.

Our Sister Company, Manchester Apartments, has a prestigious portfolio of high-spec and centrally located apartments which are exceptionally popular with international students and professionals. With 70% of tenants originating from outside the UK, the majority of tenant’s hail from China, Saudi Arabia and European countries.

Manchester is home to the largest student population in Europe and because of this a high number of graduates choosing to stay in Manchester after completing their studies, the rental demand in Manchester is through the roof.

Ancoats Gardens, Beech Holdings’ most anticipated new development

Fortunately for the future and current tenants of
Manchester, we’re in the process of constructing several new residential
developments, for both students and professionals alike. One of these buildings
is situated in the much sought-after Ancoats area, Ancoats Gardens is
a luxury residential development with two roof gardens, 155 high-spec
apartments, an exclusive on-site gym, coffee roastery and shared social space
for tenants.

Ancoats was recently regarded by The Times as one of the top
20 coolest places to live in the UK, increasing rental demand in the area,
making it a lucrative choice for potential investors.

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