According to the Centre for Public Data, foreign ownership of UK property has increased by a staggering 180% over the last 11 years, with nearly 1% of all properties in the country owned by individuals with an overseas correspondence address.
As wealthy overseas investors continue to see the UK property market as a haven for their investments, more properties in the UK are being purchased by international buyers than ever before, with a reported 250,000 homes registered to buyers with an overseas address in Q3. Since the UK property market has long since been a sought-after investment location for Hong Kong nationals, it is no surprise to see that the largest amount of overseas property purchases is listed to addresses within the Hong Kong region. With over 52,000 properties currently owned by Hong Kong buyers.
The latest research also shows that 75% of the overseas investment coming to the UK is from individuals spread across just 20 different countries. Amongst the top locations for foreign investors were the Middle East and south-east Asia, which have seen a sharp uptake in investment over the last 5 years, as the number of properties owned by individuals living in Kuwait and United Arab Emirates rose to over 19,000 in 2021.
The Centre for Public Data reports that more investors than ever are investing in the regional cities throughout the UK, with locations such as Manchester, Salford, and Liverpool attracting thousands of overseas investors. These regional cities are most notable for their regeneration, redevelopment, and infrastructural investment schemes that have expanded over the last decade and generous rental returns, attracting more overseas investment and fuelling the thriving rental demand in these regional cities.
To learn more about the rising rental demand within the UK’s regional cities, get in touch with our expert property consultants.