UK property is the leading sub-sector for investment by Chinese investors into the UK – accounting for 44 percent of the value of deals between 2012 and the H1 2016.
And the trend looks seek to continue in a post Brexit environment as PGC Capital Chinese private equity fund revealed it has earmarked £600m to invest over the next five years in UK property, with its CEO telling the Financial Times:
“I won’t say that UK property is cheap, but it is economical.
“The money that will buy you a bedroom in Beijing, in Birmingham will buy you a flat.
“You in the UK see Brexit as huge but back home in China, we see this as a ‘first-world problem’.
“In China, property is oversupplied and overpriced . . . and the renminbi is expected to devalue.
“So naturally [Chinese investors] have to find a safe haven to balance their assets.
“So this has nothing to do with whether you have Brexit or not. [The UK] is a safe haven.”
Source: Financial Times via Express