building contractor

17 Mar 23

Foxtons has worked with house builders the Berkley Group to connect Asia Pacific buyers and landlords with UK property.

The initiative, held at a series of events in Hong Kong last month, began with a reception which explored the London property market outlook for 2023, as well as previewing new developments in Croydon and Watford.

There was also a so-called VIP Meet and Greet where the agency’s team discussed London property trends with old and new clients from across Asia. And it concluded with an event which previewed Berkeley’s top 25 developments across London and the home counties, with experts on hand to talk about mortgages, migration, the developments themselves, and the UK real estate market.

Hong Kong accounts for the highest proportion of residential homes registered to foreign addresses in 17 of London’s 32 boroughs, with HK accounting for 31 per cent of all foreign registered properties.

Prior to 2021, Hong Kong nationals were predominantly buying property in new-build developments for investment purposes: however, Foxtons says increased immigration has led to heightened interest in family homes.

Alex Isidro, head of new homes and investments at the agency, says: “The Asia Pacific market is growing and changing: before 2021, Hong Kong residents were primarily purchasing investment properties, such as in new build developments in Canary Wharf and Nine Elms. 

“Since the start of the British National Visa Scheme in January 2021, we’ve seen a new trend emerge: an increasing number of Hong Kong buyers are looking for family homes, in residential communities with good schools. 

“Another trend we’ve seen is more Hong Kong buyers entering the London market via the Build to Rent schemes, which can often offer flexible tenancy agreements to make the transition to a new country easier.

“With a unique market footprint and an experienced team, Foxtons is well placed to help Asia Pacific buyers explore the London property market, whether that be in sales, lettings or property management.”

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