Chinese inquiries into Manchester property have jumped by more than 50pc as enthusiasm for the Northern Powerhouse continues to grow.
Juwai.com, an online property portal for Chinese buyers looking to invest in property abroad, said that in November, the number of Chinese inquiries into Manchester property was 53.8pc higher than the same month last year.
Around £300 million of Chinese money has been ploughed into the capital’s property sector since the Brexit vote, and billions of pounds more are coming to create a new financial district in east London.
Giant luxury towers (with their own karaoke rooms) to spring up around the city as eastern investors look to Britain. But residents fear deals will force them out
Chinese investors, particularly those from the mainland are set to become the biggest group of investors in London with a relaxation of the amount of money that can be moved overseas due to be implemented soon, it is claimed.
The changes in the stock market may also play a key role as wealthy Chinese investors turn away from their domestic market to explore new investment opportunities overseas, says upmarket estate agent Harrods Estates.
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