Why Chinese property investors choose to buy property in the UK?

UK and China has an improved trade relations. A rising number of Chinese children are now being admitted in top schools along, which is among the key factors that drive Chinese investment in properties at prime central London.

W.A. Ellis, an agency in prime central London, made a research that stated the liberalization of China’s currency, the Renminbi (RMB), has created a rising price of newly constructed residential properties in China’s first tier regions and an increasing number of Chinese high net worth personas seek offshore investments. This adds attraction to London’s real estate.

The agency’s recent research pointed out that about £3.5B was spent exclusively on UK properties made by Chinese investors in 2013. The current Chinese currency strength means that the price of buying properties as assets in London is around 8% cheaper than it was a few years back.

The research done by Hong Kong-based property firm – Centaline – on the first quarter of the year 2013 emphasized the impact of around 15% tax introduced on foreigners that invest in Hong Kong. This resulted to four-year low decrease in the sales of luxury houses to mainland Chinese investors.

Lucy Morton – a senior partner and head of lettings at W.A. Ellis has returned from a trip to Hong Kong – said that there is confidence in the real estate market in London. Investors have become frantic to buy and the liberalization of RMB has immensely helped, which is partly the responsible for widening the profile of buyers.

She also stated that around 20 years before buying London properties are exclusive to the rich. Today, there are high net worth personas, in large numbers, who are interested in investing within the capital.

She highlighted the interest of buying through exhibitions. People are interested looking at exhibitions considering that they have researched about the area where they want to buy as well as the schemes and developers of the property they are going to buy. Deposits are made ready and so they leave right after making their purchase.

Morton also pointed that South East Asian investors have purchased new luxury property developments within central London, which are usually one or two bedroom apartment. There are majority, however, that are buying just one apartment but other high net worth families can spend millions.

Apart from the ones mentioned, she also explained that there has been an increase in property portals such as Juwai.com and search engines that are in Chinese dialect such as Baidu. She added that this has helped the marked and will play a major role in the near future.

According to Morton, education has prompted this residential investment. There are children who attend private schools in London and they are in greater numbers. Mandarin is currently becoming part of the curriculum in a lot of schools. When they reach university age, a lot of students arrive and because of this their families seek private rented sectors. The steady growth of South East Asian students’ number has been seen, which also increased the rental numbers of centrally located properties.

Spanish judge Garzon to defend Assange

Baltasar Garzon was recently disbarred
Baltasar Garzon was recently disbarred

Baltasar Garzon, the Spanish judge recently disbarred from his role as an investigating magistrate, will head the legal team representing WikiLeaks founder Julian Assange, the website announced yesterday.

Assange, who is currently staying at the Ecuadoran embassy in London, has requested political asylum in the Latin American country, following failed attempts to avoid his extradition to face questions over rape and sexual assault claims in Sweden.

Garzon, well known for issuing an international arrest warrant against former Chilean dictator Augusto Pinochet, has met met with Assange to discuss legal strategy, according to a statement approved by both men.

The statement also said that the aim is to “defend both WikiLeaks and Julian Assange from the existing abuse of process and expose the arbitrary, extrajudicial actions by the international financial system” against Assange and the Wikileaks website.

Garzon was disbarred in February after it came to light that he had wire-tapped conversations between defence lawyers and their clients.

The former jurist says he intends to appeal to the Constitutional Court of Spain against his expulsion which he says is politically motivated. In 2008, he declared Spain’s Franco regime to have committed crimes against humanity and ordered the exhumation of 19 unmarked graves. This didn’t go down well with some officials.

Cameron tells Rajoy Gibraltar will decide

David Cameron and Mariano Rajoy
Cameron and Rajoy outside Number 10

Spanish Prime Minister Mariano Rajoy has made his first official visit to England since winning the election in November and was told that Britain will not negotiate with Spain on the question of sovereignty over Gibraltar without the approval of it’s residents.

Speaking at a joint press conference with Cameron, Rajoy said “We have spoken about Gibraltar and the foreign ministers will continue talking in the future. We have different positions, but we will keep talking.”

However, Mr Cameron was less ambiguous in his comments stating that the British position on the subject “has not changed”. Cameron is in favour of letting the Gibraltarians decide who governs them and will not enter into talks with Spain without approval from the islanders.

In 2002 the rocks residents overwhelmingly rejected a proposal which would have seen Britain and Spain sharing sovereignty over the island.

Zapateros socialist government had put the sovereignty talks to one side preferring to pursue efforts to benefit people on both sides of the Spain-Gibraltar border. The tripartite agreement included the UK, Spain and Gibraltar but Madrid have now rejected it in favour of quadripartite talks.

Other issues discussed by the leaders included Spain’s drastic labour reforms and budget cuts, implemented under recommendation from the EU, which brought 1.5 million people on to the streets on Sunday to protest.

A Place in The Sun Live – Spring 2012

A Place in the Sun Live

A Place in the Sun Live is the UK’s biggest and best attended overseas property exhibition and the next exhibition takes place at Earls Court London, 30th March – 1st April 2012.

Deciding on the ideal home abroad is a major decision, particularly in the current climate, and with so much choice on offer it’s important to do your research to make sure you get exactly what you want.

Every spring and every autumn, A Place in the Sun Live features thousands of overseas properties for sale, by hundreds of exhibitors from more than 40 countries worldwide. And with homes from less than £20,000 to over £1 million, there really is something to suit almost every taste – and budget.

The next A Place in the Sun Live overseas property exhibition takes place at Earls Court London 30th March – 1st April 2012 and we already have an impressive list of exhibitors booking stands at the show.

There will be a packed schedule of free-to-attend seminar sessions in dedicated theatres giving advice on buying property in France, FloridaItaly and Portugal.

Then there’s the Buying Advice Seminar Theatre which will play host to sessions on buying property in Spain, Cyprus, Turkey, plus many other destinations.

And as if that wasn’t enough there’s also a daily session focusing on emigration where you can learn everything you need to know if you’re thinking of leaving the UK for good.

Tickets to A Place in the Sun Live are on sale now. Book in advance and get two tickets for £15.

Information for exhibitors can be found here

Press information can be found here

The Luxury Property Show 2012

The Luxury Property Show 2012

The Hurlingham Club, London | 30th and 31st October 2012,

The only exhibition focused exclusively on luxury property

Set within the stunning grounds of the The Hurlingham Club, The Luxury Property Show 2011 was an outstanding success. That’s not our opinion; it is the opinion of our exhibitors and it is the reason, if you specialise in luxury property, that you should join us in 2012. To view the event video click here and below you can read for yourself what our exhibitors have to say about the only show that specifically targets wealthy property buyers:-

“We loved it and have booked our place for next year. Thanks for looking after us so well. One of the best shows we have ever done, and we have done a fair few over the years!” Judy Mansfield – First Rate FX

“Fabulous show – well done to the organisers. Beautiful location and great networking opportunity – would thoroughly recommend everyone to book a stand early for next year.” Suzanne Pearce – Luxury French Property.com

“This is exactly the right type of clientele we want to attract, it is a perfect opportunity to promote ourselves to the UK market, and where better than The Luxury Property Show, and also the Hurlingham Club – what a fantastic location.” Sara Collins – Andermatt Swiss Alps

“It is the perfect place to promote our resort.” Rhoy Ramlackhan – Maradiva Resort, Mauritius

“We were sad to see it end but roll on 2012 as this was so worthwhile for Mayfair International Realty members. Exhausted talking to so many luxury buyers.” Nick Churton – Mayfair International Realty

There is one key reason that our exhibitors have such a fantastic experience with us. It is quite simply the quality of the visitors who attend this stunning showcase of international properties. By specifically targeting those with the means and the desire to buy truly luxury property, our exhibitors can participate at the show confident that they will meet genuine buyers.

Exhibitions space at the show is strictly limited. To find out more details about how you can participate at The Luxury Property Show 2012 and sell to wealthy buyers, please click here to view the 2012 brochure or alternatively please call us for further details.

For more information visit www.theluxurypropertyshow.com, call +44 (0) 1323 472 467 or email eddie@theluxurypropertyshow.com

The Property Investor Show 2012 – Dates Confirmed

property investor show 2012Dates:  19 – 20 April 2012
Location:  ExCeL London

The major event of the 2012 Spring season will be The Property Investor Show at ExCeL London.

Since launch in 2002, this exhibition has established itself as “the benchmark event for the property investment sector” with a reputation for innovation – and this year will be no exception with a ‘live’ property auction and other first time features.

As always this exhibition will include a comprehensive programme of seminars and conferences presented by speakers recognized as experts in their respective fields.

As the ONLY major property investment event taking place in London during the first half of 2012- it is a “must attend” event in the diaries of the UK’s serious investors and trade professionals. While it’s international element attracts visitors from across the world.

Click Here for full details and booking information.

Tourist board introduces “Living Costa del Sol”

Costa del Sol Tourist BoardThe president of the Tourism Board of the Costa del Sol, Elías Bendodo, attended the World Travel Market (WTM) in London to present a new brand under the title “Living Costa del Sol”, the aim of which is to attract more British tourists and property buyers to help relieve the stock of more than 30,000 unsold homes available in the region.

Bendodo explained that the initiative, which involves banks, home-owners and insurers, aims to increase property sales to the British market to boost the economy and to clear the surplus of unsold property, a result of many years of development. The scheme aims to encourage buyers by putting guarantees in place for the legality of properties.

“The Costa del Sol is a tourist destination open all year and we are the first choice destination for many British travellers. There is a large number of Brits who are already permanent residents in Spain”, Bendodo said.

The head of the tourism board confirmed that “After a difficult 2010, in 2011 we have noticed an increase in visitor numbers from the UK which is essential for us as it means more passengers pass through the airport, higher occupancy in hotels and tourism spending.” adding that the initiative also aimed “to promote economic recovery and improve our tourism industry, which contributes between 12% and 14% of provincial GDP”.

The scheme was created “to convince British tourists to relocate their permanent home to the Costa del Sol, where they can live the dream.” However, the plan also involves promoting the region to the German, Scandinavian, Italian and French markets.

Elías Bendodo said his presence at the WTM was “to work, to innovate, to promote, to search for and invite tourists to the Costa del Sol, an all year destination.”

World Travel Market opens in London

World Travel MarketThe World Travel Market (WTM) opened yesterday at the ExCel exhibition centre in London and will run until Friday 11th.

Luciano Alonso, head of tourism at the Junta de Andalucía, said that the region will take many positive statistics to the WTM in London. Andalucia had a record summer in terms or tourist numbers. The number of hotel stays increased by 10% this year, 1.4% above the national average.

Alonso said the positive figures were due, in part, to the success of last years WTM which was held at different venues including Manchester, Liverpool, Birmingham and Dublin.

The 2011 campaign entitled “Andalucía, welcome home”, will take Andalucía to Liverpool and Manchester while there will be a special event to promote the Andalucía tourism website, which will be held at the new Westfield Stratford City shopping centre.

The WTM will consist of some 600 stands representing destinations around the world, all attempting to attract more tourism for the coming year. The stand for Andalucía will cover 600 square meters and will include tables for meetings. The types of tourism Andalucía receives will also be on the agenda. The usual sun, sea and sand holidays will be promoted along with more traditional aspects of Andalucían culture plus golf and winter sports.

For full details of the World Travel Market, including opening times and event programme visit wtmlondon.com

Spain’s housing secretary ‘in denial’ about property problems

The Property Investor Show & OPP Live took place in London last week, and was attended by many Spanish property developers and delegates, including Spanish housing secretary Beatriz Corredor who wanted to assure British buyers that they could trust the system and safely buy a Spanish property.

The minister talked about the decree to legalise existing properties and said this, combined with the 4% drop in new-property tax and falling house prices made Spanish property a safe investment.

Following a heated discussion with the minister, MEP Marta Andreasen claimed Spain’s secretary for housing ‘is in denial’ regarding the severity of the problems experienced by expats who have invested in the country.

UKIP’s Marta Andreasen MEP said: “I was quite upset that she refused to accept or mention the fact that were serious problems affecting Brits in Spain.

“She referred to new reforms that had supposedly made Spain a safe country in which to buy, but these reforms neither resolve the past nor the present problems.

“The British are among the highest proportion of foreign property purchasers, but the bad reputation Spain has earned itself has seen the level of interest in Spanish property plummet. This so-called ‘property roadshow’ was to address that with the aim of portraying that everything is fixed and the Brits can start spending their money again. How wrong this is.

“Regional governments pick fights with local governments, mayors and politicans take bribes, then get prosecuted for corruption – it really is difficult for any British person to trust anyone throughout the home buying process.

The Spanish minister made no mention of the thousands of people who had bought in good faith only to find out that their properties were built illegally and are therefore unsellable, as well as being cut off from local water and electricity supplies. Many property owners also face the prospect of their property being demolished, and in some cases the owners may even have to contribute financially to the demolition.

This was the second time this year that the minister had spoken to potential British investors in an attempt to revitalise British investment in Spain.

OPP Live & Property Investor Show – Last Chance to Book a Stand

You have just 1 week left to book your stand at The Property Investor Show & OPP Live (13-15 October, Excel London).

This is the premier event of the year for the UK’s property investors and trade professionals – and the place to be for any company serious about conducting business with them.

It is also the UK’s longest established dedicated property event and, over 3 days, thousands of visitors (typically owning 4+ investment properties each) will descend on London to appraise the opportunities from a broad spectrum of UK and international exhibitions.

This year’s show highlights will include…

Live Auction – Friday 14th October – Following the success of last year’s auction – which generated a revenue in excess of £9 million! – the show is delighted to confirm that a follow up will take place within the exhibition on Friday 14th October ONLY. Presented in conjunction with ‘MustBeSold.com’, Graham Penny – well known to followers of BBC TV’s ‘Homes under the Hammer’ auction programme – will again bring down the gavel on 150 – 200 lots.

Property in Pensions – A dedicated SIPP Zone, coordinated by property consultancy ‘Intelligent Partnership’ will feature for the 3rd successive year. The SIPP Zone offers alternative pension planning with free advice and a road-map to build or rescue existing pension schemes. For example: Hear about innovative farmland investment projects from the Food Water & Energy company, giving investor returns based upon two harvests a year starting at 9% and rising to 14% a year.

Holiday & Park Home Investment – One in five holiday-bed nights in the UK is spent on one of 4000+ parks. In fact the ratio would have been higher in 2010 but for many parks having to refuse visitors because they had reached maximum occupancy. This trend has not gone unnoticed by the investor community – and many have identified ‘Holiday’ and ‘Park’ and  investments as an emerging sector that fits within a balanced investment portfolio.

Alternative Investments – A growing trend among the property investors visiting the show in recent years has been a demand to acquire different assets to add to their property portfolios. Reflecting investor demand, this year’s visitors will be able to review the investment potential of a range of alternatives, including …

  • Car park spaces
  • Residential care homes
  • Forestry
  • Land
  • ‘Green Investments’ (e.g. carbon credits, biofuel)

2 x seminar programmes – This year, we are delighted to include 2 separate programmes.  The Investor programme will include 30 new speakers while The OPP Conference programme will concentrate specifically on ‘trade issues’ in international markets. All programmes comprise a mix of seminars and panel debates of varying length – and many sessions will be fully booked before the show opens.

Call: James Elliott or Sumit Pal on +44 (0) 20 8877 0610

Email: enquiries@propertyinvestor.co.uk