enzh-hant 2724 1212 2739 6121 anytours@anytours.com.hk
enzh-hant 2724 1212 2739 6121 anytours@anytours.com.hk

UK Property

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2724 1212

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A. BNO & British Nationality Law Updates

Official information from the UK Government:

Hong Kong Holders of BNO could apply for British Nationality.

Application Period:starting from 31 Jan 2021

Requirement of Staying:have spent no more than 180 days outside the UK in any 12 months in the previous 5 years

Application fees:£180 to apply to stay for 30 months, £250 to apply to stay for 5 years

Immigration Health Surcharge:For each adult this will be: £1,560 if you’re applying to stay for 30 months £3,120 if you’re applying to stay for 5 years For each child under the age of 18, this will be: £1,175 if you’re applying to stay for 30 months £2,350 if you’re applying to stay for 5 years

 

Information from the UK Government:

https://www.gov.uk/guidance/hong-kong-british-national-overseas-visa-applications?fbclid=IwAR3cMJJMZYq72DjxSBsIErs7I5QAojjqPbcLPWzAAR5tleC2OJHRabxlucQ

 

B. Life in UK

Comparing with Hong Kong:
1. Clothing

more or less the same

2. Food
  • rice lower than HK for 13%,meat lower than HK for 50%,vegetables lower than HK for 20-50% in average
  • McDonald’s, Coke more expensive than HK for 50% in average
  • medium restaurant more expensive than HK for 20% in average
3. Housing
  • Income would be more than HK for 25% in average
  • Rent a flat – lower than HK for 10% in average
  • Utility bill – more expensive than HK for 60% in average
  • Phone Bill & online bill – more expensive than HK for 80% in average
4.Transportation
  • Public Transportation – more expensive than HK for in average 200% in average
  • Buying Cars – more or less the same with HK
  • Fuel – lower than HK for 30%

C. UK Property Market Situation

UK Market:Low exchange rates for pounds, supply is lower than demand, low interest rates

Manchester City Property Market:The development in the northern area and basic infrastructure help to increase population, Media City attracts white-collar worker

Michigan:famous developer, strong rent management, low First installment – only HK450,000

 

UK House prices keep rising even after Brexit

UK Property Market rebounded in Jan 2020

UK House Supply lowest in 10 years

New Immigration trend causes the rise in UK property market

Mortgage interest rate lowest in history

Low exchange rates for pounds: Good timing to enter the market

New UK property Stamp duty band

 

D. Introduction of Manchester

Manchester is the main city of northern UK

One of the city with the best performance in UK property market

Living consumption index lower than London for 46%

Manchester was named most liveable city in the UK in 2019

Employment growth in Manchester

Development in infrastructure help economic growth

Good Transportation network

Only one hour travel time to London after HS2 launching

University City – help the growth of second hand market and rental market

Upgrade/expansion of the Metro link transport system

Top international enterprises setting up branches and help to increase job vacancy

Strong second hand market

Low Empty properties rate

E. Recommendations of UK Property

Media City

Largest UK media and IT company setting up office there

MediaCity would continue to grow

 

X1 Michigan
X1 – Strategic partner of Peel Group
Over 20 completed projects

 

較Comparing the rent with same area

LightBox, Media City, 433 sq.ft. ~£800 pcm
Waterman Walk, 710 sq. ft. ~ £1,100 pcm

 

F. Procedures of buying UK houses

Payment 
  • Deposit 5000 pounds
  • Lawyer fees 1200-1500 pounds, UK lawyer explaining the agreement
  • First Installment 25%
  • Second Installment 10%,pay within 6 months
  • Last Installment 65%, pay when Handover
  • Optional: Buying home furniture pack (about 2995 pounds)
  • Optional: Buying Parking Space (about 25000 pounds)

 

Other Expenses
  • Stamp Duty (starting from 125,000 pounds, 2% up)
  • Ground Rent 395 pounds every year
  • Council Tax(guest)
  • Service Charge 1.88 pounds every ft every year
  • Letting Agent Fee (8-10%)
  • Tax on rental income (starting from 12,500 pounds, 0-20%)
  • Sell Commission(0.7%-3%
  • Tax on capital gain (18-28%)
Limited Time Offer (till 31 Dec 2020)
  • Guarantee Rental fee for two years
  • Complementary Lawyer fees of 1000 pounds
  • Complementary home furniture pack

 

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Website: www.anytours.com.hk

Phone:2724 1212

Email: enquiry@anytours.com.hk