Why UK is becoming popular destination for foreigners to invest in property?
The UK has long been a popular choice for investors. It has seen consistent growth in house price year after year. But the UK is a vast location, and it’s all about which city holds the right opportunity for a long-term investment, taking important factors into consideration such as high quality stock, rent rises, currency value, and market transparency.
Where to look
The UK’s capital city London seems the obvious place to look. However, the property market has begun to slow. It is no longer offering the return that investors are looking for, with inflated housing prices driving people to look elsewhere for more affordable options. They are looking outside the city, and to find new opportunities, investors should follow suit.
The property markets with promise are now being found outside the capital. Regional cities in England’s north are becoming more and more popular as living options. Liverpool, Leeds, Sheffield and Birmingham are all attractive prospects for investment, but none more so that Manchester.
With the relocation of some major companies, the job scene is ramping up. Lots of people are moving to Manchester for these opportunities. Add the student population and it makes Manchester the place to be. It is starting to become known as ‘the London of the North’ and is the fastest growing city outside of the capital.
Its infrastructure is still trying to keep up with the demand, but that means it’s the best time to look at investing in Manchester property, as it’s showing all the signs of sitting at the bottom of an up cycle. Manchester has a much more relaxed attitude towards foreign investment. While there are still the usual fees involved, there are no restrictions on what properties you can buy.
Off the-plan, established, it’s up to you which one you want. You also have access to local home loans, making it easier to sort out the investment with less financial strain. Buying in Manchester also means that you can diversify your portfolio. Having a diverse portfolio means you have a safety net during the ups and downs.
The UK property market has no ties to other countries’ markets, so if one slows down, not all of your investments are affected. Finally, it means the opportunity to get in on a property market that’s about to explode. A major UK market researcher predicts that there will be a 20.5% growth in rental prices from 2017 to 2022. All these factors demonstrate Manchester’s market is ripe for investment and long-term return. For investors, the only question is whether they’re ready to buy.