China’s Love Affair With Manchester
China Property Investment in Manchester
Manchester has been compared to Melbourne, the world’s ‘most liveable city’, according to the Chairman of Far East Consortium International, David Chiu Tat-cheong. No surprises, then, that China property investment in Manchester is set to explode…
Chiu has had significant success with his property investments in Melbourne, and has now got Manchester in his sights!
“The situation with Manchester is close to that when we first decided to invest in Melbourne 17 years ago,” says Chiu. Sydney used to be the prime territory for investment in Australia, but over time, the discrepancy in population and house prices has narrowed substantially, with Melbourne coming out on top as the best city in the world in which to live.
Our Great Reputation Fuels China Property Investment in Manchester
Manchester attracts thousands of overseas students, year after year. The city’s reputation as an international pool of talent, and its investment input from successive governments, have gone some way to establishing it as the city with the highest rental yields in Britain.
Manchester’s rental population is booming, and the prices in both home and land are relatively low compared with London. And with the pound at its lowest for three decades, it’s no wonder that China’s leading investors are seeing the potential here.
Even in the face of Brexit, China is still fixated upon the UK property market. This might have something to do with President Xi Jinping’s visit to the city last year, combined with the UK’s positive relationship with the Chinese market. That’s not to mention all the further investment that the city can expect to receive from China as a result of its strong market fundamentals!
As Chancellor Philip Hammond has stated, “our trade relationship with China is more important than ever.” That is certainly the case for Manchester, where we are welcoming this promising interest.
China Property Investment in Manchester Is Down To Our Success As A City!
As our city continues to thrive and grow, in both property and talent, we are pleased to be compared so positively with Melbourne. It’s just another sure sign of even greater things to come for the Northern Powerhouse!