Chinese and Hong Kong buyers inquiring the impact of new taxes


hamilton international estate impact of new taxes

10 Oct 2018

The total value of the investments made by Chinese, Singaporean with Chinese ethnicity and investors from Hong Kong was £118.9 billion across global property markets, where the total value of UK investments was £16.6 billion, which included both residential and commercial properties. The Q4 2018 report of Juwai.com on UK residential properties found Chinese buying enquiries tripled in the months from February to August. Liverpool inquiries increased 162.5 per cent in August as compared the same month in the previous year and Manchester enquiries were 200 per cent higher during the duration. London properties inquiries were 5 per cent higher.  

Chinese and Hong Kong investors seek modernized cites to shift

Most property seekers are optimistic but some buyers are concerned about the impact of Brexit and tax hikes. The number of Chinese speaking users of the website Juwai.com grew more than 3.1 million. UK properties remain the top choice for Hong Kong buyers and still many buyers are seeking options due to depreciation of pounds and hedging school fees. Many are investing in Northern powerhouse due to shortage of affordable and quality homes in London.  

Due to inflow from foreign investors, the property rates in other cities of Europe such as Ireland and Dublin increased significantly in the last few years. The Dublin residential property price grew by 94 per cent from February 2012 as per the Central Statistics Office, and the home prices in the rest of the Ireland grew 10.8 per cent.  In one year from August, the prices grew 6.1 per cent.

Property exchange and house selling stats

TwentyCi released the Q3 data of the market where it suggests, the increase in the number of detached properties exchange, was 36 per cent. The increase in new constructions was 2.5 per cent, and on an average the house prices grew 1.9 per cent in the year.  

The PropCast’s September Report on house selling show the demand in Liverpool in L2 increased by 33 per cent. There are higher chances of getting a buyer in cities Birmingham, Bristol, and Manchester M32, and the greatest demand is in Bristol, BS5 and BS3.  One of the most difficult places to sell properties is London, the key reasons being unaffordability and shortage. Growing cities where property markets are getting buyers easily include Bristol and Birmingham.

In Liverpool, the property rates grew 7.5 per cent as per Hometrack records, and in Manchester, it is growing significantly where the demand is more as compared to supply.

Colliers International found the supply and demand were higher in the residential sector in the city centre where the development of the pipeline, which will include at least 4000 units across 12 developments is expected to be delivered in 2018 to 2022. This development will create at least 11,000 new jobs in the city centre in the sectors- healthcare, technology and others. The generation Z graduates will be the beneficiary of these new positions. Currently, there are 70,000 people, who are renting their homes to the budding number of young workers.

To know more about UK properties, click Hamilton International Estates (www.hamiltoninternationalestates.com).

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