Hong Kong emigrants to the UK are relishing the current downturn in the UK’s housing market as it presents another real estate investment opportunity.
F. Chiu, a Hongkonger who moved to London with her father nearly a year ago, recently bought a nearly 1,000 sq ft flat in the West End, a stone’s throw from the Elizabeth Line tube station, at Galliard Homes’ TCRW Soho project for £2.15 million (US$2.68 million).
She bought another flat a few weeks ago, this time at the Orchard Wharf in London Docklands. A one-bedroom unit in the project starts from £460,000 onwards.
“The first purchase experience gave me enough confidence to buy another,” said the 50-something Chiu, who requested to be identified only by her family name. “We purchased the Orchard Wharf property in cash, and our tenants moved in on the third day after I got the keys.
“My father and I only came to the UK last July. This is our first such long-distance move … We are currently using the TCRW Soho apartment as a buy-to-let investment.”
Source: SCMP
