Middle Eastern and African buyers step up interest in the UK but Europeans stay away

Investors from the Middle East are currently showing the most appetite for UK property from overseas, accounting to 13% of sales from Fabrik Invest.

Those from Africa have also bought a sizable proportion of properties (12%), especially from South Africa, the most active individual country (7%).

UK investors accounted for 60% of Fabrik Invest’s total sales during the past year, yet buyers from elsewhere in Europe accounted for just 5%.

The property investment firm sold 125 apartments, while its developments include Michigan Towers in Manchester’s MediaCityUK.

Matt Harper-Penman, group director, Fabrik Invest, said: “It’s been an interesting year to work in property investment, with so many staff having to work remotely and to adapt to using Zoom and other tech.

“However, what we’ve seen is that there is still plenty of appetite for UK property, as investors seek out a market that is fundamentally stable in both political and economic terms.”

In all, investors have come from 25 countries.

Dale Anderson, managing director, Fabrik Invest, said: “With a booming property market and a well-regulated financial system, the UK has a great deal to offer when it comes to property investment.

“Overseas buyers looking for stable, long-term rental income can find everything they need here, with healthy yields and excellent potential for capital growth.

“With business having boomed during the pandemic, we’re excited to see what the next 12 months has in store.”

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