Why buying properties in Britain is good parenting for Hongkongers

Preparing for their children’s education is the major reason why many Hongkongers and mainlanders invest in properties in Britain, a trend that has been accelerating since the Brexit vote weakened the value of the pound, according to agents.

Peter Gibney, director of City and East London residential development with Jones Lang LaSalle, said many parents use property investment to finance their children’s education in Britain.

“There are a lot of children from Hong Kong, China and South East Asia who are studying at boarding schools or universities in Britain. The British education system has a good reputation so that if the children can get a prestigious degree at Oxford, Cambridge or other universities in Britain, they could easily get jobs internationally,” Gibney told the South China Morning Post in an interview in London.

“Many parents thus bought the properties in London or Britain for their children to live in during their study, while some are investing for their future education fees,” he said.

“These parents are very good at planning. Some buy the British properties when their children are still babies. When the children grow up, their investment gain in the properties could be used for their education fees in Britain.”

Gibney said these investors are not chasing quick and sharp investment gains of 20 or 30 per cent, rather they would like to have stable, long-term returns to pay for the education of their children.