Hong Kong buyers are snapping up.....

Within the past three to four months, new build property purchase activity in the £1M – £2.5M range in London has strengthened. There is a concern that people are choosing to leave the United Kingdom because of Brexit, leading to an increase of properties listed on the market.

Why has there been an increase of buyers looking to purchase these properties? The answer lies within a region with increasing political uncertainty: Hong Kong. With Hong Kong experiencing political unrest, the United Kingdom is seen to be a more stable and economically feasible investment to high-end buyers.

The uncertainty surrounding Brexit and the political unrest in Hong Kong has created an excellent opportunity for affluent families to invest in properties in London. The luxury housing market had been seeing stagnation, allowing for Hong Kong buyers to purchase multiple units at a discounted rate. In August 2019, Hong Kong investors purchased £200 million worth of luxury properties in London. In the third quarter of 2019, 5,156 homes were sold with approximately 1/5 of these properties being purchased from residents in Hong Kong and China. 

However, the residents coming to London are not just looking for an investment property; they are coming to London to live here part-time or full time. With the city boasting luxury amenities, including restaurants, shops, and some of the best schools and universities in the world, it has become a viable option for these buyers to relocate.