چگونگی خرید ملک و اقامت در انگلستان

How to buy a property in the UK: Complete guide

Some people predict that due to the current turmoil in the market, real estate investment from Asian buyers in the UK will decline. But the reality shows something else.

I do not wonder why so many Asians continue to invest in the UK. It’s a great place for Asians to get quality education, and I’m not just talking about bigger cities like London.

Topics in this article:

  • Can foreigners buy property in the UK?
  • Can foreigners buy land in the UK?
  • UK Real Estate Market
  • What should I consider before buying a property in the UK?
  • Steps to buying a property in the UK
  • UK property tax

Can foreigners buy property in the UK?

چه کسی مهارت دارد؟

Asian investors have no restrictions on buying and owning a complete ownerless property in the UK.

Britain has been the first choice for many Asians, especially from Hong Kong, Singapore and mainland China, as they look for a convenient place to store their assets.

At the same time that people in the UK are buying a lot of property in places like Spain, Asian investors are often looking for English-speaking countries where their children can study in the future.

In general, the buying process is simple and there is no need to open a limited local company or enter into complex contracts with UK citizens.

Can foreigners buy land in the UK?

You do not need UK citizenship to buy and own land, as in many developing countries, such as the Philippines or Cambodia.

This is similar to other countries in Europe, which offer you more options, and not just the ones that foreigners like to offer you in Asian countries.

UK Real Estate Market

بازار املاک انگلستان

If you have 200,000 GBP of assets, let’s say you have a hard time finding a spacious apartment in London and you have to look for a property in the suburbs.

Reports indicate that investors will not be able to find a property in London below 000 200,000 by 2019, so if you plan to buy a property in London with this budget, you need to act faster.

On the other hand, you can find lucrative city deals in smaller cities like Sheffield, as well as where universities have high quality education.

A friend of mine in the UK recently bought a property near the University of Sheffield for just over 000 100,000.

His projected monthly rental income is set at GBP 725, which is a cash income higher than what he paid.

Asians who allow their children to go to the UK to study will not turn down such offers if the property is located in a safe area close to the university with public transport.

For them, more security and convenience is worth paying extra pennies.

London real estate market is stagnant, so in this article it is better to look for other cities.

Steps to buying a property in the UK

مراحل خرید ملک در انگلستان

With two to three investments in a smaller town, you can easily get real estate investment in London.

And in general, it is better to buy a few smaller units compared to larger units, given the rental income.

If you want to increase the value of this property as much as possible, the location will also have a big impact. Asians continue to pour money into London, and prices are breaking records year after year.

Checklist when searching for UK real estate agents

  • Check that the representative is a member of the NAEA (National Association of Real Estate Agents). They can answer questions and check if the agent is licensed.
  • Check their website and see if they look like real representatives. And do they have the characteristics and descriptions of a real agent? If they are representatives, they do not need to have an office in any particular area. It is important that they have easy access and good knowledge about the area to be invested.
  • If possible, ask friends, relatives and acquaintances and see what experiences or recommendations they have.
  • Does the agency respond to your emails in a timely manner? Do they choose when you try to contact them? These are important issues to consider.

What should I ask my real estate agent?

از نماینده املاک و مستغلات خودم چه باید بپرسم؟

Some of the questions you should ask your representative are:

  • How long is it listed on the property?
  • How high is the council tax? (This also applies when buying property in Australia)
  • Are there jobs and rights attached to the property?
  • When was the last pest and building inspection?
  • How much can you expect from a rental return?
  • Can you help me find tenants and manage all my communication with them?

If you are not able to check the property on the site in the UK, contact a friend or acquaintance and let them check on your behalf if possible.