London estate agents, Benham and Reeves have commissioned a study of foreign investment in the UK, comparing which countries’ residents own the most property.

Who Owns What in the UK’s Property Market?

The study looked at the value of homes owned by foreign nationals in England and Wales, focusing on the top nationalities that own properties in the area.

1. Hong Kong: People from Hong Kong own the most valuable property portfolio, worth a whopping £10.8 billion. They have 24,759 homes.
2. Singapore: Singaporeans come second with 15,725 homes valued at £7.2 billion.
3. United States: Americans are in third place, with homes worth £5.1 billion.
4. UAE and China: Rounding off the top five are the UAE and China, with property values at £4.6 billion and £4.2 billion, respectively.

Why are Hong Kong Homeowners Leading?

Marc von Grundherr, the director of Benham and Reeves (the London agent that did this research), highlights a few reasons:

• The British National Overseas Visa: This has sparked interest among Hong Kong buyers, letting them live, work, and study in the UK.
• The Bigger Picture: While foreign-owned homes are worth a massive £78.8 billion, they are only a small part of the entire UK property market.

Others in the Top Ten

• Malaysia: Just outside the top five at £4 billion.
• Kuwait, Ireland, Australia, Saudi Arabia: These countries have property portfolios ranging from £3.1 billion to £3.6 billion.

How Was This Information Gathered?

Benham and Reeves used a Freedom of Information request to get the data from the Land Registry. They then calculated the estimated value of the properties by looking at the nationality of ownership and the average house price in each local district.

What Does This Mean for You?

As a prospective investor, understanding who owns properties and why can help you spot trends and opportunities. The UK property market remains strong and diverse, and the influence of foreign nationals, while significant in value, is just a fraction of the overall market.

This might indicate opportunities for both domestic and international investors and provide insights into how government policies (like visas) can influence property buying decisions. It’s a sign of an active market, with different nationalities finding the UK an attractive place to invest in property.

Overall, it paints a picture of a vibrant and multifaceted property market in England and Wales, where understanding the nuances could lead you to make informed investment decisions.