IT IS RELATIVELY simple for buyers from Hong Kong to invest in Britain's property market, but there are legal and tax issues to consider before taking the plunge.
Hongkongers have been buying residential properties in Britain for years and, while some purchase apartments or houses for their own use, most of these acquisitions are now investments.
Rental yields are appealing and the long-term appreciation prospects are good. British regulations treat overseas landlords generously, and investors should consider getting professional advice to maximise the benefit from tax concessions, according to Mai Han-wong, a director and the head of the Hong Kong and Shanghai division at King Sturge property consultant.
Legal points to consider
Clive Sharples, of London-based Riseam Sharples Solicitors, has acted for local property investors in Britain for 20 years. He said buying property in Britain was a 'simple process' for Hong Kong investors, and the process got even simpler if you were buying at one of the regular Hong Kong sales launches for properties in Britain.
'Some buyers never see their properties, but they are able to manage them and deal with all matters comfortably from Hong Kong,' Mr Sharples said.
The English legal system was well regulated, and this gave comfort to foreign investors who knew their investments were sound and their property titles guaranteed, he added.