We regularly arrange property finance for Middle Eastern clients, who are drawn to investment in the UK for many reasons. There are many motivations for this, from the security of UK investment property to favourable foreign currency exchange rates. We’ve rounded up the top 5 reasons for foreign investment in the UK.
1. Safe haven
Regardless of recent political uncertainty surrounding Brexit, the UK has long been considered a safe place to invest in property. In comparison to some global markets, political ‘turbulence’ in the UK is really very minimal. Foreign investors feel the UK property market is a safe haven and are keen to purchase both commercial and residential properties.
2. Global business centre
The UK is an ideal business base. London has a reputation as an economic powerhouse, attracting businesspeople from all over the world to work in its thriving metropolis. Excellent facilities, a range of airports, and a favourable time zone makes the UK an ideal location from which to run a global business. 9am in London is 5pm in Hong Kong, whilst UK based businesses can catch those in the USA near the end of their working day.
3. Educational opportunities
We regularly assist Middle Eastern clients with purchasing homes for their children to live in whilst studying abroad. Many of our clients decide to buy in the UK because their children are keen to enjoy the world class educational facilities on offer. Clients therefore purchase buy to let properties, which they rent out when their children are growing up, and then refinance these to residential mortgages once their child is ready to move to the UK.
4. Prestigious postcodes
London offers some of the most prestigious postcodes in Europe. Areas such as Knightsbridge and Chelsea are world-famous, offering a central location and fantastic access to restaurants and leisure facilities.
Whatever your preferred style of property is, London and the UK has something to offer. If you want a new-build luxury apartment, there is an abundance of options. Alternatively, the UK’s cities boast many attractive older properties. Clients are also increasingly buying properties further out in London and renovating them to enjoy more space in a property decorated exactly to their taste, at a better cost.
For those who want to escape the city, prime English countryside offers an environment unlike anything available in the Middle East. Middle Eastern clients, used to soaring temperatures and dramatic desert landscapes, can enjoy the contrast of verdant countryside by purchasing rural estates.
5. Cosmopolitan culture & lifestyle
For Middle Eastern clients looking to fill their spare hours, the UK has a raft of entertainment and leisure options. London’s history and cosmopolitan culture reflect the fact it has existed in some form for almost 2000 years. The UK boasts thousands of museums, galleries, theatres and restaurants. London’s excellent transport links mean it can also be used as a base to enjoy the history, fashion and culture of nearby Paris and Europe beyond.
If you are a Middle Eastern client looking to buy in the UK – or an expat based in the GCC – we would be delighted to welcome you at our office in Dubai.