Conditions in the UK have got more favourable to Chinese investors in 2015 and should continue to get better in 2016 and beyond, according to a prominent Chinese property portal.
In a year that saw Chinese President Xi Jinping visit the country, website Juwai.com has identified five reasons that more Chinese people will be attracted to investing in UK property. They are:
– The UK Government is set to make visa applications friendlier, as well as increase the number of visa processing centre across the UK. This will be especially appealing to high net worth Chinese people for whom the UK is a popular place for educating their children.
– President Xi’s trip has increased the UK’s profile in China, causing a surge in tourists and consequently the amount they spend here. Barclays Research estimates that Chinese tourists will be splashing a whopping £1billion per year in the UK by 2017.
– Chinese businesses are investing more in the UK. The UK’s Centre for Eonomics and Business Research (CEBR) estimates Chinese investments as a result of President Xi’s visit will be worth £126billion by 2025.
– Chinese companies are becoming increasingly prominent players in UK infrastructure projects. The CEBR estimates that around half of the £126billion Chinese FDI spend in the UK will fund infrastructure projects, giving Chinese companies a chance to expand abroad.
– London remains the number one choice for Chinese property buyers but more are discovering the UK’s secondary cities. Locations such as Manchester, Liverpool, Brighton, and Birmingham are attracting growing interest, thanks to infrastructure upgrades, new developments and keener pricing.