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East, west, home’s best

The British housing market has long been a magnet for investors from overseas. And now a whole new group of millionaires are eyeing up London’s prime sites. According to recent statistics, China was the fourth top property investor in the UK during 2013. Only buyers from the UK, Russia and those from the United Arab Emirates were ahead in numbers. Chinese families and business people are attracted to London for its schools and universities, high quality new-build homes and a vast range of shops. Of particular appeal is the fact that such buyers are not taxed on their global wealth, unlike in the US. It is, therefore, worthwhile considering how to make your property more desirable for these new investors. Aspects of your home that would be of particular interest to a buyer from China include: Modern interiors with a good finish Contemporary interiors are a must with Chinese buyers, which is why they often favour new-build properties. Refurbishments can be difficult to manage from a long distance away. Low maintenance As properties in the UK are not usually their main home, Chinese buyers require a property that they can leave for periods of time. An apartment on a higher floor with no garden is a good example. Simple furniture If it’s not already furnished, don’t buy or include expensive furniture. Purchasers from China tend to be astute at assessing how much refurbishing you have done. If they think the seller is trying to add too much extra value through a luxury makeover, they may look elsewhere. Chinese buyers like a bargain, even if they have money to spend. House numbers If your house number includes a number 6 or 8, then you are fortunate. These are considered lucky numbers in China. Unfortunately, if you live in number 4, you might find Chinese buyers hard to attract. The sound of “4” is similar to the word for “death” in some Chinese languages, and therefore considered unlucky. If it’s a deal breaker, it may be possible to change your house number. Check with your local council.     Winkworth China Desk has created a tailored service to help our vendors reach the Chinese market and to assist Chinese buyers with the process. For further information, contact Lexi Guo on 020 7355 0286 or 07990 034 759 or china@winkworth.com. Or visit the China Desk website.

The British housing market has long been a magnet for investors from overseas. And now a whole new group of millionaires are eyeing up London’s prime sites.

According to recent statistics, China was the fourth top property investor in the UK during 2013. Only buyers from the UK, Russia and those from the United Arab Emirates were ahead in numbers. Chinese families and business people are attracted to London for its schools and universities, high quality new-build homes and a vast range of shops. Of particular appeal is the fact that such buyers are not taxed on their global wealth, unlike in the US.

It is, therefore, worthwhile considering how to make your property more desirable for these new investors. Aspects of your home that would be of particular interest to a buyer from China include:

Modern interiors with a good finish

Contemporary interiors are a must with Chinese buyers, which is why they often favour new-build properties. Refurbishments can be difficult to manage from a long distance away.

Low maintenance

As properties in the UK are not usually their main home, Chinese buyers require a property that they can leave for periods of time. An apartment on a higher floor with no garden is a good example.

Simple furniture

If it’s not already furnished, don’t buy or include expensive furniture. Purchasers from China tend to be astute at assessing how much refurbishing you have done. If they think the seller is trying to add too much extra value through a luxury makeover, they may look elsewhere. Chinese buyers like a bargain, even if they have money to spend.

House numbers

If your house number includes a number 6 or 8, then you are fortunate. These are considered lucky numbers in China. Unfortunately, if you live in number 4, you might find Chinese buyers hard to attract. The sound of “4” is similar to the word for “death” in some Chinese languages, and therefore considered unlucky. If it’s a deal breaker, it may be possible to change your house number. Check with your local council.     Winkworth China Desk has created a tailored service to help our vendors reach the Chinese market and to assist Chinese buyers with the process. For further information, contact Lexi Guo on 020 7355 0286 or 07990 034 759 or china@winkworth.com. Or visit the China Desk website.

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