CHINESE SET TO TAKE OVER MANCHESTER

CHINESE SET TO TAKE OVER MANCHESTER

85
0
SHARE

CHINESE SET TO TAKE OVER  MANCHESTER

– Chinese property investors bet on the Northern Powerhouse

– Chinese investors pack in to hear about property in the Northern Powerhouse

CHINESE SET TO TAKE OVER  MANCHESTER

chan
Charis Chan
CHINESE BET AND TAKE OVER MANCHESTER
High Speed Hs2

This Saturday and Sunday, 500 Chinese investors will be slurping up details on the upgrading of the M62 motorway, and high-speed railway HS2 in two of Hong Kong’s swankiest hotels, along with their dim sum.

They will no longer be gazing at artist impressions of Canary Wharf or Battersea.

As an alternative, Chinese investors are preparing and heading up the M6. This was decoyed by George Osborne’s promotion of the “Northern Powerhouse”.

The Chinese investors will not just buy homes but they will be building as well.

While this is ongoing, the Chinese will facilitate the boosting of a property thrive. They will cause an upsurge in prices, especially in Manchester and Liverpool.

However, the Royal Institution of Chartered Surveyors (Rics) had reported that prices in London were likely to drop considerably over the next three months, while prices in the North West were projected to rise.

CHINESE SET TO TAKE OVER  MANCHESTER

In the north, Hong Kong Homes, the property company organising the seminars, has already sold more than 400 flats in Manchester, Liverpool and Sheffield to Chinese clients so far, this year.

According to the senior manager of its international property division, Charis Chan, “There are a lot of people switching from London.”

CHINESE SET TO TAKE OVER MANCHESTER
Another Chinese Property

“They’ve heard that much new infrastructure is coming to the North”

One reason is the announcement that HS2 will be extended to both Leeds and Manchester.

YOU SHOULD READ THIS:  China jails man for social media post

“First of all it’s the Northern Powerhouse – because they’ve heard that much new infrastructure is coming to the North. And another thing is the railway.” she told BBC.

“A quarter of the properties at the Dock Office in Salford have been sold to Chinese buyers.”

In one recent development at Salford Quays, called the Dock Office, just half the apartments were sold to local people. A quarter went to Chinese nationals, and a further quarter went to Brits living abroad.

Julie Twist, an estate agent who specializes in Manchester city center apartments, was surprised at how much money the Chinese were prepared to spend.

“The prices were hefty on those. But £300 a square foot is nothing to them.” she estimated.

“It’s definitely pushing up prices, because they’re bringing a lot of cash over here.”

CHINESE SET TO TAKE OVER  MANCHESTER