It can be difficult for international property investors to decide on a country to buy property in. Each nation is different and dealing with an unfamiliar property market can be off-putting. Despite this, the UK is often the top choice for property investment.
There is rarely a bad time to invest in UK property. The country’s economy is strong and resilient; even Brexit isn’t expected to have a major impact on the national property market. The UK has previously been through a number of major economic and political events. All of which its economy has survived.
Listed as one of the top investment cities in the world regularly is London. The UK capital’s projected economic growth, disposable income levels, population and investment all make London a top location for overseas property investment.
Sustained Property Price Growth
The UK also benefits from a strong and sustained property market. The British government’s Land Registry data shows property price growth of 26.4% over 5 years, 45.6% over 10 years, and 314.2% over 25 years.
Beneficial Exchange Rates
Compared to historical averages, exchange rates over the past 3 years have definitely been beneficial to international investors. Compared to just 5 years ago investors from the United Arab Emirates now get 33% more for their money; furthermore, Hong Kong investors get 32% more, buyers from Singapore get 22% more and investments made with the Euro get 10% more.
Another advantage of the UK’s property market is its strong regulatory foundation. There are various regulations and regulatory bodies that cover the country’s financial and property market services; creating a stable and professional environment for investors.
Choice of Locations
Although London has historically been the main choice for overseas property investors, there are now huge opportunities throughout the UK. More and more international buyers are now turning their attention towards other UK hotspots, particularly Birmingham and key Northern cities such as Manchester, Liverpool and Leeds.
Each of these locations has recently undergone huge investment and regeneration projects, boosting their economies and housing markets. Increasing numbers of businesses are moving their headquarters out of the south east and into these cities bringing with them thriving jobs markets and larger, more affluent populations.
Such population growth has resulted in a huge demand for residential property which current housing stock can’t fulfil. Consequently, there is fantastic property price and rental growth in major cities outside of London.
If you’re an international investor interested in learning more about property investment in the UK, contact North Property Group today.