Cash rich Chinese investors poised to buy UK property after Cameron victory
The markets are expecting a flood of high net worth Chinese to enter the UK property market following on from the Conservative victory at the polls. With the Chinese economy flagging the founder and chief executive of Largemortgageloans.com, suggested that we will see a surge of inward investment in the years to come.
He went on to comment that: “Because of the Conservative victory, people will be able to buy and invest with confidence. We will see another five years of house price growth, aided by the removal of the threat of a mansion tax, pension reforms and non-dom rules staying the same.”
For a number of years now the British government has been wooing business, net high worth individuals and investors and it appears that the Chinese are first in the line. Previously it had been Russian and Middle Eastern investors who have dominated the London “super prime “market and expectations are high that a lot of action will be seen in the in the £1m-plus bracket. Largemortgageloans.com specialises in arranging mortgages of £500,000 and above and they have seen a massive 1,150% increase in visitors to its website from China between February and March 2015, they expect that this will continue to grow.
One of the reasons is that London is seen as a safe haven for foreign money, and it also enables an escape and access to a European passport. China has suffered from a flagging economy and on May 11th, China’s central bank cut interest rates for the second time in 2015 in an attempt to halt the country’s economic slowdown.
House prices here in the UK are set to grow during the next five years after the Conservative general election victory.