Should I invest in England?
Should I invest in England? Is Britain still a profitable country that has been experiencing economic fluctuations for some time now? Although the earmarking of Britain from the European Union has economic implications, foreign investors do not leave England.
Knight Frank Malaysia Executive Director James Buckley told despite the potential headwinds resulting from the UK’s impending departure from the EU, London was the top city in 2017 globally for cross-border office investment, ahead of New York, Frankfurt, Berlin and Paris. Buckley, who heads the firm’s capital markets business says that London’s appeal, be it liquidity, transparency, high quality stock in large lot sizes or landlord-friendly leases, was clearly undiminished following the 2016 EU referendum.
“Eighty-three percent of all transactions were from overseas investors totalling over £14 billion in London last year,” he says, adding that the city attracted capital from over 15 different nationalities, with Greater China and Hong Kong leading the pack at 39% of foreign purchases. In the second quarter of 2018, there were seven transactions above £100 million in the City of London, he discloses, noting that five of these investors hailed from South Korea, Hong Kong and Singapore.
London is one of the countries that have invested most of the Asian countries in the long term. Especially Malaysians did not give up on Britain because of historical ties between the two countries.
“Many Malaysians were educated in the UK, with a large number of their children following in their parents’ footsteps to further their studies in the UK. They also consider the UK as one of the best and secure countries for property investment,” says Taylors Properties Director Kingsley Goh.
The UK real estate market is still the center of attraction within large companies. In July, Facebook purchased an office space of 611,000 square meters at King’s Cross. These investments, says Goh, create a demand for accommodation. “The knock-on effect has meant many developers and investors taking an interest in the area,” he says.
Sevdenur Demir / realestatecoulisse.com
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