Since the announcement of Brexit, many have been worried about the disinterest in regards to foreign investment for the UK. While it is clear that some areas in the UK may be less fortunate, as a whole, it is still a strong prospect. In fact, the UK has actually claimed the top spot in the world in regard to its appeal to business investors. This is due to the continuous growth occurring in some of the UK’s major cities with industries such as the tech and property sectors which are attractive prospects for foreign investment.
Take a look at some of the UK’s top cities, which are a magnet for overseas investors.
Despite the downfalls that Brexit has brought, the capital is still classed as the most thriving city in the world, as it attracts investors from every corner of the globe. With its rising population and talented residents, it is no wonder foreign investors are still interested in London. In terms of the property market, there has been a slight shift; however, some overseas investors are making the most of the drop in house prices, as they can invest in sought-after areas for a fraction of the average price. This should hopefully benefit them in the future should London’s property market see a boost in growth.
A city that has had more of a positive run in the real estate sector is Manchester, which is the main focus of many Chinese investors. This city was also named as one of the top global cities for foreign direct investment after it experienced a massive surge in January 2018 of 255.6% in inquiries regarding property investment, mainly from China. This city should continue to be the focus of overseas investors, as its employment levels continue to grow, along with its transport links - should HS2 come to fruition.
Another northern city that has been at the top of investors lists is Liverpool, which has experienced a significant amount of regeneration. This includes initiatives such as the Liverpool Waters project, which is set to transform into a residential, commercial and leisure hub that will result in more employment opportunities and will resolve the current housing dilemma. There are also ongoing developments in areas such as the Baltic Triangle, with property professionals like RW Invest working with high-quality developers to create luxury housing for residents and students. This has enabled a significant amount of capital growth, again resulting in a massive 160% increase per year from Chinese investors.
The UK’s second city is in the running for becoming one of the top prospects for overseas investment, despite competing with Manchester for second place. Despite slow growth in recent years, the West Midlands city is on the up, as it has become the only area in the UK to experience a surge in foreign direct investment as well as employment growth, which was the highest in any city outside of London. Investors from around the world will also benefit from the construction of the HS2 line, as it is at the forefront of the project due to its Birmingham-based headquarters.