Demand from Hong Kong buyers set to rise as capital welcomes back international interest
Hong Kong buyers have the largest property footprint within London, followed by Jersey.
Buyers from Hong Kong account for the highest proportion of residential homes registered to foreign addresses in 17 London boroughs. Research from London lettings and estate agent, Benham and Reeves, has revealed Barking and Dagenham as home to the highest percentage of Hong Kong homes.
Hong Kong buyers currently have the biggest property footprint within the London market.
The nation makes up just under a third of properties registered overseas in East London’s Barking & Dagenham..
Demand from international buyers dropped during the Covid pandemic as a result of travel restriction. London was hit particularly hard.
However, real estate experts are optimistic that interest is swiftly returning – in part thanks to the introduction of the British National (Overseas) visa.
“Now that UK travel restrictions have been lifted, we expect to see an uplift in international demand throughout the remainder of the year, which, in turn, will help boost what has been a somewhat beleaguered London market in recent months,” director of Benham and Reeves, Marc von Grundherr, said.
Buyers from the city state are also prolific buyers in East London’s Tower Hamlets, making up 26 per cent of properties registered abroad. Hong Kong buyers also account for 24 per cent of Newham properties registered outside the UK.