Jump to content
House Price Crash Forum
Sign in to follow this  
Gigantic Purple Slug

Chinese By Up London Property

Recommended Posts

Why not. Enjoy the Olympic wave while it lasts.

Putting myself in the position of a wealthy foreigner, say nouveau riche Chinese. If for some reason I coveted a foreign home, which I can see myself more eager to do if Chinese as a gateway to more freedom or to escape a possible future persecution in China, the US and the UK would be high on my list. Sweden and a few other places. Safe but a bit dull.

London being multicultural with mature legal framework and welcoming to money. Also the English language. In Germany some concern still for how multicultural they are and will remain. In France, it's a bit over exaggerated, but stories of rudeness to foreigners with stories of shocked Japanese tourists being airlifted home with Paris Syndrome. It's going to take some shock, strikes and civil unrest perhaps, to really change foreign buyers attitude towards buying in London.

According to this bloomberg story from yesterday, it reports the Chinese are buying property globally, with cities in the US and UK London, but also Chinese wealth flowing into property buying in many other countries.

Chinese Launch Global Homebuying Spree

http://www.bloomberg...al-markets.html

At Barratt Developments Plc (BDEV), the U.K.'s largest homebuilder by volume, 42 percent of the residential units it sold in London this year through May were to overseas customers, all of whom were Chinese, said Gary Patrick, regional sales director at the London-based company.

For the Chinese, where you buy in London depends on how long you've been wealthy, said Barnes of Savills. Second- and third-generation Hong Kong residents gravitate toward prime central London locations like Knightsbridge, Mayfair and Kensington, while the newly rich look in Canary Wharf and the Docklands.

I didn't think Barratt would be that active in London but they've been, with other developments currently under construction.

http://www.barrattlo...m/portfolio.htm

Share this post


Link to post
Share on other sites

Check this out for a stat, from the bloomberg story.

Chinese families are increasingly sending their children to the U.K. for college, with around 100,000 students in the country last year, said Jennet Siebrits, head of U.K. residential research in London at CB Richard Ellis Group Inc. (CBG), the world’s largest commercial-property broker. That compares with 4,000 in 1999.

Share this post


Link to post
Share on other sites

They're welcome to it if you ask me. I am leaving this shithole in a few weeks... good ******ing riddance.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.