General   |   March 20, 2021   |   Charlotte Hagan

Why are international investors piling into the North West’s BTL market?

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International investors are increasingly focusing on the buy-to-let (BTL) property market in the North West of England, according to property investment firm Thirlmere Deacon.

The UK property market has already seen an influx of interest from Hong Kong buyers since the new path to citizenship was announced in the summer of 2020 and recent research shows that others are following their lead.

In recent years, due to political instability in Hong Kong owing to increasing interference from China, the UK property market has benefited from strong interest from buyers and investors hailing from Hong Kong. During the first nine months of 2020, investment immigration firm Astons found that Hong Kong buyers were the second busiest foreign buyers of property in the UK. Hong Kongers acquired some £305.6 million of prime London homes and 6,438 homes amounting to £8.1 billion across the UK as a whole.

Property Investor today has quoted that the BTL property soared in the North West by more than 50% over the last six months, with the largest spike coming from international investors, up 35% year-on-year.

Stuart Williams, founder and chief executive of Thirlmere Deacon, says: “We have seen a rise in Hong Kong investors in the region, together with those from the Middle East and Asia. The UK property market is highly attractive to international investors as it is robust, despite the pandemic, Brexit and the economic uncertainty.”

He argues the attractive returns on UK BTL property is driving foreign investment in the North West, with international investors able to acquire a high-quality three-bed apartment in Manchester which will house students and professionals from £297,000, with an annual rental yield of 7% gross (approximately £20,790) and capital growth of around 4% per year.

“Location has been key during 2020 and this theme will continue into 2021,” Williams adds. “Large cities away from the capital have seen increased interest, but there are other locations that are well worth considering that can offer better value for money and exciting prospects.”

If you would like further information or advice on our buy to let options or you’re thinking of renting your home, we would be more than happy to assist you: [email protected] or 01282 868686.

 

 


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