Almost 203,000 homes across England and Wales are owned by international homeowners with London accounting for more than a third of the total, according to new analysis from Enness Global.
The research, based on Land Registry data identifying properties registered with an overseas correspondence address, shows that 202,568 homes are owned by international buyers. The figure has remained broadly stable year on year, rising by just 0.02%.
London has the highest concentration of internationally owned homes, representing 33.9% of the England and Wales total. The South East follows with 17.2%, while the North West ranks third at 15.9%.
In nationality terms, Hong Kong buyers are the most prominent across England and Wales, accounting for 13.8% of all internationally owned homes. They are followed by buyers from Singapore (7.9%), the United States (6.8%), the United Arab Emirates (5.9%) and China (5.8%), with Malaysia, Ireland, Australia, Kuwait and Saudi Arabia completing the top 10.
HONG KONG INFLUX
Hong Kong nationals also rank as the leading overseas buyers across London, the North West, the West Midlands and Yorkshire and the Humber. Malaysia leads in both the East Midlands and the East of England, Ireland tops the North East, Kuwaiti buyers are most prominent in the South East, and US nationals rank highest in both the South West and Wales.
Within London, Hong Kong buyers account for 18.7% of the 68,729 homes registered to overseas addresses. Singapore ranks second with 12.9%, while China moves into third place at 11.9%, followed by the United States (5.9%) and the UAE (5.3%).
At borough level, Tower Hamlets has the highest proportion of internationally owned homes, followed by Westminster, Wandsworth, Kensington and Chelsea, and Hounslow.
IMPORTANT ROLE
Islay Robinson, CEO of Enness Global, says: “International buyers continue to play an important role in the housing market, particularly across London and the wider South East where demand from overseas homeowners has long been a key feature of market activity.
“What’s particularly notable is how stable the overall level of international ownership has remained, with the total number of homes registered to overseas addresses changing very little over the past year.
“The UK remains a desirable place to own property for many global buyers.”
“This suggests that, despite a challenging economic backdrop and ongoing political and tax uncertainty, the UK remains a desirable place to own property for many global buyers.
“London remains the clear focal point, accounting for over a third of all internationally owned homes across England and Wales, but the data also highlights that overseas ownership is far from isolated to the capital.
“Regional hotspots such as the South East and North West continue to attract substantial international interest, underlining the UK’s broad appeal as a long-term property destination.”
