Findings from Rightmove.co.uk, the UK’s number one property website, reveal that the UK is a hot favourite for property buyers based overseas who wish to buy newly built homes in this country.
Of 520 enquiries received from prospective buyers living overseas, the largest number – 16.3% – came from residents of the United States.
Nick McKittrick, director of New Build at Rightmove.co.uk, comments: “This puts paid to the notion that Americans are turning their backs on the world outside the USA, with almost 1 in 6 of our overseas enquiries coming from the Land of Uncle Sam. Confidence seems to be returning and we’re seeing more enquiries from the USA than from any other country. Americans and British expatriates living over there really appreciate the high quality specification and mod cons of new homes in this country, which meet what they are accustomed to in the States.”
Other countries whose residents show strong interest in new homes in the UK include our European neighbours such as Germany (accounting for 9.2% of enquiries), Ireland (8.5%), and Spain (7.3%). France came in at sixth position, with only 5.1%. Nick McKittrick comments: “Despite being our nearest neighbour and having a population that is similar in size to our own, the French are less interested in buying new homes. Maybe they prefer older style properties, or are just motivated more by food and drink than by the homes they live in!”
“Not surprisingly, many enquiries come from other English-speaking countries, both from expatriates and nationals of those countries. The US, Ireland, and Australia together attracted 31.3% of enquiries, while Hong Kong accounted for a further 3.3%.”
While the residents of some countries are naturally more likely to buy here, email enquiries are received from all four corners of the world. Nick McKittrick continues: “There is interest from 60 countries, which represents a quarter of the countries in the world, from all four corners of the globe. That includes the second smallest country by land mass (Monaco) and the second largest (Canada). All in all, it shows what a cosmopolitan place the UK is, and that discerning buyers from the world over appreciate the quality and benefits of our newly built homes.”
Despite the exotic locations of prospective buyers, the evidence suggests that purchasers from overseas are serious about investing here. The latest overseas buyer was a gentleman living in Tokyo who saw a newly built home on Rightmove.co.uk, contacted the developer, David Wilson, via email through the site and then reserved the home.
