Northern Businesses To Benefit From Asian Investment
The North of England could see an influx of investment from the Far East as Chinese families look set to make northern parts of the UK their homes.
Chinese, Malaysian and other Far Eastern investors have long been buying property investing in the London, but buy-to-let specialists Assetz say they have seen lots of interest from Chinese clients in Leeds, Manchester and Liverpool.
Assetz estimates there have been in the region of 2,000 buy-to-let properties sold to Far Eastern investors in the north last year, a lot of whom move locally to watch over their investments.
Assetz suggested the reason for the sudden surge of interest away from London was due to a higher return on investment on buy-to-let properties in regional cities rather than the capital.
These are also more new-build apartments available, which Far Eastern investors have a preference for and regional cities offer cheaper properties meaning low earners can also take advantage.
A spokesperson for Expert Market said: "It's really exciting that northern towns and cities are going to benefit from investment.
For years London has seen a lot of Asian investment and it will be fantastic to see the wealth more distributed. And it's not just the city itself that will benefit, the surrounding areas and local businesses are also going to benefit.
"Britain has always been a tempting place for Asian investment as it offers stability, democracy and solid land titles. For parents, the quality and prestige of British schools and universities is also tempting."
The pound has been increasingly weakening against Asian currencies and many are attracted to the strength of the UK rental sector.