Knight Frank has set up a Hong Kong overseas development office to sell buy-to-let properties in the British regions to Asian investors.
A three-man team headed by Andrew Pang plans to broaden Far Eastern investors’ appetite for UK residential property by offering high-yielding properties in major cities outside London.
Pang said: “Investors tend not to think outside London, even though there are higher yields in Kent and Glasgow. With our strong regional offices we can provide fact-based reports about properties outside London.
“Student towns, such as Manchester, Liverpool and Sheffield, will be popular because a lot of the investors went to university there,” he added.
“We also have to sell the cities. Part of the challenge will be to show people that Birmingham is actually a nice place.”
UK property has traditionally been attractive to Far Eastern investors because there is no capital gains tax for overseas investors and they can offset their mortgages against tax.
