Some international property investors might be hesitant about the UK property market as it stands a year on from 2016’s Brexit vote but one group proving not to be shaken are the Chinese.
Latest data from Juwai reports that Chinese companies purchased $1.43 billion worth of UK property in H2 2016, up by 12.5% Y-O-Y indicating little in the way of Brexit jitters.
Indeed, according to a recent JLL report referenced in The House of Commons briefing paper (Foreign Investment in UK Residential Property) the Chinese are the biggest buyers of new-build residential accommodation globally with an increase indicated in UK towns and cities outside of London such as Liverpool.
Oliver Ramsden, Founder & Director, Aspen Woolf said:
“With the weaker pound, now is the time for overseas investors to put their money into the UK property market to reap first-class rewards. We are dealing with frequent requests from overseas investors, primarily in China and the Far East, due to the UK’s current financial situation with secondary cities such as Liverpool particularly attractive due to their low entry point.”
One new purpose-built student accommodation development, available through investment agency Aspen Woolf, that is looking to tap into this wave of investment from the Far East is Devon House in Liverpool city centre.
Devon House has been specifically designed with Asian investors and tenants in mind from the traditional red colour themes seen in the communal areas through to the Chinese wall hangings, decor and feng shui furniture layout, the accommodation really has encapsulated Far Eastern culture.
The communal kitchen/diner area on the ground floor of Devon House has been carefully designed with Asian style cooking in mind with Chinese kitchen manufacturer Oppein Groupcombining high quality workmanship with ergonomic design.
The shared kitchen is fully equipped with gas facilities for wok and rice cooking and the large round banquet area can seat up to 12 people making it perfect for communal eating.
“Devon House has been specially designed to Asian tastes for the simple fact that so many Chinese and Far East Asian students are now choosing to study and live in Liverpool. It’s highly appealing to offer familiar surroundings for these students, a true ‘home from home’ as well as for investors who are guaranteed an assured 8% rental income over three years”.
Devon House, located just 150m from the Liverpool University campus and next to the Royal University Hospital, is one of Aspen Woolf’s most exciting student accommodation investment opportunities. The development compromises 162 large, self-contained studio apartments and smart technology. Prices start from £67,950 and offer 8% assured rental income over three years.