Chinese property investors have more confidence in UK after Leave vote

An international property portal says that Chinese interest in buying UK property is extremely high post-Brexit.

Bernie Morris, president of UK, Europe and the Middle East for Juwai.com, the Chinese international property portal, said: “The number of Chinese buyer inquiries made in each of the last four weeks has been between 30-40% higher than in an average week this year.

“The last four weeks have been four of the five biggest weeks yet this year, when ranked by number of property buyer inquiries in the UK.

“The data show that the Brexit vote has definitely boosted Chinese buyer interest in UK property.

“The chief mechanism has been the reduction in the value of sterling against the dollar and the yuan.

“Now, with politics stabilising and a competent new government in place, the UK looks like the same old safe haven as ever – but cheaper.

“There have been a lot of drags on the property market in recent months. First, it was the elections, then the referendum and now summer.

“But that is exactly why the weaker pound has come at the right time. It’s summer, and the Chinese are coming.

“These are not emotional buyers. They are looking for a bargain, and they have long-term faith in the UK.”

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