Figures from Juwai.com, an online property portal for Chinese buyers looking to invest in property abroad, revealed that Chinese inquiries into Manchester property have surged with a 53.8% increase in the past year.
The rise coincides with President Xi Jinping’s tour of Manchester in October 2015. Chinese enthusiasm for the Northern Powerhouse is predicted to continue with Manchester Airport Group doubling its estimate of the value to the local economy of direct flights from Beijing to Manchester. It said the economic impact of Chinese visitors will be worth £500m in 10 years’ time, up from £250m currently.
The Manchester-China Forum estimated that last year there was £2.1bn worth of development projects in Manchester with Chinese involvement. The biggest project is Beijing Construction Engineering Group’s £800m Airport City development, just five miles from our 184-unit resi scheme in Cheadle Hulme, which we obtained planning consent for earlier this week.
Being the focal point of the Government’s Northern Powerhouse agenda promoting growth and regeneration outside London – and with 17% rental growth predicted over next five years (Savills), strong tenant demand and rental yields in excess of 5% (Zoopla) –Manchester is rapidly gaining popularity with both UK and overseas investors.
Call our sales team on 020 8688 6552 to enquire about our Cheadle Hulme scheme. Apartments are being offered off-plan at great prices to early doors investors. Starting at just £125,000 for a one-bedroom apartment, investors benefit from only 3% Stamp Duty Land Tax. SDLT is not chargeable at these prices if purchasing as a private residence.