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Chinese Set to Buy UK homes as Mandarin Language Property Website is Launched.

BritCham / CBBC
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A new website selling UK property to Chinese investors has recently been launched by Chinese Lottery Company, Bextex group. Luckywu.com features property listings from owners, estate agents and developers in London and targets Chinese buyers. In the past two weeks the site has seen the sale of just over £1m, with the average transaction falling between £200,000 and £500,000

China is home to the fastest growing sector of international property buyers, and according to research undertaken by the Economist, investors account for more than 5% of central London buyers. Luckywu claims to be the missing link connecting China’s investors with property that suits their criteria.

Chinese government policy to rein in inflation means that interest rates are being kept high, and there are limits on the purchase of second homes. These measures mean that an increasing number of China’s wealthy are looking to overseas markets in cities such as London, Sydney, and New York to invest in property.

Source: Daily Telegraph

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