Selling property quickly in the UK to overseas investors in the post-Brexit scenario is still possible, but it may take a bit longer and require more effort than it did before. This is because there is now more uncertainty about the UK’s economic future, and some overseas investors may be hesitant to invest in the UK until the situation is clearer.
However, there are still many overseas investors who are interested in buying property in the UK. This is especially true of investors from China and Hong Kong, who see the UK as a safe haven for their money.
If you are looking to sell your property quickly to an overseas investor, here are a few tips:
- Price your property competitively. The UK property market is currently cooling, so it is important to price your property competitively in order to attract buyers.
- Market your property to overseas investors. There are a number of ways to do this, such as listing your property on international property websites or working with a real estate agent who specializes in overseas buyers.
- Be patient. It may take longer to sell your property to an overseas investor than it would to a domestic buyer. This is because overseas investors often have to go through a more complex buying process.
Here are some additional things to keep in mind when selling property to overseas investors:
- Make sure your property is in good condition. Overseas investors are often looking for properties that are in good condition and require minimal repairs.
- Be prepared to provide documentation. Overseas investors may need to provide additional documentation, such as proof of funds and a visa, in order to complete the sale of the property.
- Work with a qualified real estate agent. A qualified real estate agent can help you navigate the process of selling property to an overseas investor and ensure that you get the best possible price for your property.
Overall, it is still possible to sell property quickly in the UK to overseas investors in the post-Brexit scenario. However, it is important to be realistic about your expectations and to take the necessary steps to market your property to overseas buyers.
There has been a lot of interest in properties in the UK from wealthy, cash rich investors from China and Hong Kong. They have been snapping up prime properties in London, Manchester and other places in the UK and seem to be largely unaffected by Brexit.
Indeed, there has been a major increase of Chinese investment into overseas property in the UK since Brexit. The demand from the Chinese mainland is the same as that from Hong Kong. There’s about £4.5bn worth of Chinese money that is chasing overseas properties in the UK right now. This is the highest level of buying activity seen from any overseas buyers.
This certainly presents a plenty of opportunities for those who are considering selling property in the UK fast. While the overall foreign investment in the UK has declined by 55 percent since the Brexit vote the Chinese investment is only down by 22 percent, or £1.25bn.
This means Chinese buyers are very much involved in the real estate market here, more so than investors from any other country. The reason for this is easy to understand.
The UK is seen as a safe haven for investment by many wealthy Chinese investors. They fear a crackdown on their wealth in China by the Chinese government through taxation and other means and want to diversify into Europe as quickly as possible.
The impending devaluation of the renminbi has prompted many to invest as quickly as possible in the overseas property market before their buying power goes down any further.
But it’s not just the Chinese who are buying properties in the UK. Germans, Scandinavians and Russians have been buying in a big way as well. There’s always been a desire for properties in London from rich Middle Eastern investors. So any decline in the UK property market brought about by Brexit only seems to be temporary.
Indeed, Brexit may well have a positive fall out. With the pound sterling valued at 1.17 Euros right now, properties in the UK have never been more affordable. Indeed, post-Brexit, many properties in the prime neighbourhoods of London, are available for an excellent price.
This throws up a plenty of opportunities for Chinese investors, who are considered to be amongst the most sophisticated buyers of overseas property. So the foreign interest in real estate in the UK remains strong, and is only likely to intensify over the next few years as things stabilise in the British economy.