China boom for Manchester property

0 Comment(s)Print E-mail CRI, January 29, 2017
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Chinese President Xi Jinping addresses dignitaries during a visit to the airport city in Manchester, Britain, Oct. 23, 2015. [Photo: Xinhua]

Property experts in Manchester are hoping that the Chinese New Year and Spring Golden Week will bring them a boom in business.

That's according to specialist publication, who report that flight bookings from China to Manchester have increased by nearly ten percent over the period.

Many of those visitors may be investors from China, interested in acquiring property in the area.

The relatively low value of the British pound, combined with a huge demand for property in the UK and a restricted supply have led to a very attractive prospect for foreign investors.

In Manchester, property prices have not yet risen to the astronomical levels seen in London.

However, it's a city with extremely good financial prospects and a positive international reputation, which might further fuel demand for property.

In 2016, London alone received a record ?4 billion in property investments from China over the course of the year.

That was according to analysts at CBRE Group, who also believed that the decline in the value of the British currency, along with the continued buoyant state of London's property market, had been very attractive to investors.

Manchester looks set to follow suit.

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