- Hainan Airlines’ new direct flights to China generated hundreds of millions for northern England’s economy (Steer Davies Gleave)
- Chinese investment in Manchester property rose by 54% (Steer Davies Gleave)
- 22,000 Chinese visitors expected during Christmas holiday (Manchester Airport)
- Properties of the World sees 30% rise in Chinese property buyers over the last year
Manchester’s economy is decisively booming thanks to the city’s new direct flights to Chinese destinations, according to new report undertaken by consultancy Steer Davies Gleave. Launched last year, the new Hainan Airlines route between Manchester and Beijing has provided a boost of £200 million per month in tourism to the region.
This tourism income is set to rise further as the biggest influx of Chinese tourists arrives during the festive season with Manchester International Airport expecting some 22,000 passengers in December. Staff have been trained in Mandarin to cope with the boom in Asian guests.
Many of these visitors come to spend their yuan at traditional Christmas markets and shopping malls but Chinese interest in Manchester during this holiday period also extends to the city’s bricks and mortar.
With Cathay Pacific increasing its service from Manchester to Hong Kong with daily flights starting from December 1st, Manchester is fast becoming a key location, and indeed rival to London, for Chinese travellers.
Indeed, just as the airlines put their landing gear down in Manchester, so too are potential investors with enquiries to property agencies rising by 54% since the launch of direct flights between Manchester and China reports Steer Davies Gleave.
One property investment consultancy which has seen just such a rise in interest is Properties of the World, which has recorded a 30% increase Chinese investors over the last year.
“Much of the inward investment pipeline for Manchester, including property, is from Chinese companies and investors and so direct flights from the city to a range of key Chinese destinations is important to enable those who own assets here are able to visit regularly and with ease. Manchester’s door is very much open to the East.”
Jean Liggett, CEO, Properties of the World
Xu Xiong of Properties of the World cites the fall of the pound as the reason for this recent boom in Chinese investment commenting that “Chinese investors are still taking advantage of the drop in Sterling against the Yuan, snapping up homes in the UK as the yields available are twice as high as those in China.”
For Chinese investors looking to treat themselves to a UK buy-to-let property this festive season then the new Northill apartments, right on the Manchester waterfront, are the perfect choice.
Northill’s prime luxury residential homes comprise 1, 2 and 3 bedroom apartments from £109,995 with assured returns upwards of 6% NET. Situated right in the heart of the tech hub that is Salford Quays, it is in the premium destination to work, live and invest.
“Christmas is an ideal time for buyers to scour the planet for enticing investment opportunities. Projects like Northill, where construction is well underway, are particularly attractive as their looming completion dates mean that buy-to-let investors can already see their end goal and the assured rental returns offer financial peace of mind too.”
Jean Liggett, CEO Properties of the World