The Telegraph reports the international property portal confirmed the Brexit vote had boosted buyer interest.
Bernie Morrris, head of Juwai’s EMEA division, said: “The chief mechanism has been the reduction in the value of Sterling against the dollar and the yuan. Now, with politics stabilising and a competent new government in place, the UK looks like the same old safe haven as ever – but cheaper.”
A slowdown in the Chinese economy in Q1 meant that previously, investor interest had been waning for months.
According to US international property adviser CBRE, 5% of owners of residential property in London’s West End are Chinese, and the UK is the most popular place to buy property in Europe for Chinese investors.
London makes up more than half the properties snapped up by Chinese buyers, who also look to Manchester, Birmingham, Cambridge and Oxford. Investors are also circling flats in Northern cities with higher rental yields fuelled by Northern powerhouse ambitions.
Chinese buyers are also keen to get their children into UK educational establishments, snapping up flats for them to live in while they study.
Morris said: “There have been a lot of drags on the property market in recent months. First, it was the elections, then the referendum and now summer. But that is exactly why the weaker pound has come at the right time. It’s summer, and the Chinese are coming.
“These are not emotional buyers. They are looking for a bargain, and they have long-term faith in the UK.”
