The English People Daily reports on a new wave of spending in the UK housing market from Chinese investors. Estate Agent Today also carries the story, but doesn’t mention this as the source or link back to them.
Apparently, the Chinese spent 170 million odd on central London property alone in the last 12 months to March 2010. The article quotes Liam Bailey of Knight Frank as saying ‘…Asian investors are now buying more than a fifth of all central London’s new properties and account for 49 percent of all investment purchases in London …’
This seems a very high number to me and I am sure I read somewhere last week that it was the Spanish, Greeks, Americans etc who were the next big property investors. Of course this is all ‘research’ and guesstimation from Knight Frank and their conclusions appear to be, domestic ownership is harder in China, the economy is forcing people to look outside and more and more Asians are sending their offspring to UK Universities.
I know a few people who got fat helping Russians buy property over here and I am sure those same people are looking at the latest foreign investment with pound note signs in their eyes.
That said, this is not the super rich, multi million pound purchases, this is more modest £400-800,000 purchases for their kids (lucky kids is all I can say!!). If this is the case, then this puts everyone in with a shout of securing this channel, epscially those close to Universites and good transportation links. To this end, this will be the only time you will hear me recommend buying another domain name. Purchase a Chinese domain name and point it to your website. Go one stage further and provide a decent translation of at least your home page so our Chinese friends can find ‘London property’ on the Chinese google search. (it is not that simply, but this is a good first step).
I conducted a quick test. I translated ‘london property’ into Chinese, then searched on Google China. The results provided me a page of chinesse and whilst I have no idea what the text says, you can clearly identify the domain names, none of which I recognise. This says to me ‘opportunity’.