Why do African Property Investors Love UK Property?
It will come as no surprise to seasoned investors that the UK property market is one of the highest-performing markets in the world right now, not just in terms of property but in any asset class or investment type.
Despite tough economic conditions across the Western world in the past 12 months, the UK property market has remained remarkably resilient and it’s no surprise that investors from around the globe are taking notice and are investing in increasing numbers.
One area that we’re seeing a lot more interest from is Africa, and African property investors are making the most of steady and rising prices, rising rents and growing property yields to protect and grow their wealth.
Of course, Africa is a broad area, so with this in mind, we’ve put together some information about what to expect when investing in UK property for African investors in general and then more specifically Nigerian investors, with the country being a leading playing in the influx of African investor looking towards to the UK.
What real estate opportunities are available for African investors?
In terms of what’s on offer, there’s a multitude of different types of property investments for African investors.
Firstly, residential property is the main type of investment vehicle for most that want to generate and protect wealth in the UK, with properties such as houses, flats and apartments that are then rented out to private tenants. With this being the most popular type of investment there is an abundance of choice especially in large urban and suburban areas where there is huge demand.
There is also a rising stock of student property available to African and Nigerian investors around Manchester, Stoke and other popular student towns. Although this is a slightly more niche investment the returns are excellent and it’s growing quickly in popularity.
Finally, there are a growing number of opportunities to invest in supported living for elderly and vulnerable people. This is an area that’s growing quickly due to a rising need and a lack of available stock to meet that need, so we’re seeing a rapid rise in investors opting for this choice.
There is a quickly growing African investment community that is passionate about investing in UK assets thanks to secure property rights, relatively easy market access and great returns.
Can Nigerian investors buy property in the UK?
As one of the most prominent African countries when it comes to investing, many Nigerian investors have started to turn their attention to the UK, but can they purchase a property in the UK? The short answer is yes, Nigerian investors can buy property in the UK.
The UK has an open property market that allows foreign investors, including Nigerians, to purchase properties. However, there are certain regulations and processes that need to be followed.
Nigerian investors can buy both residential and commercial properties in the UK. They can choose to invest in properties for personal use, rental purposes, or as part of a larger investment portfolio. When buying property in the UK, investors must adhere to the country’s legal requirements, such as obtaining necessary visas or residency permits if planning to reside in the UK.
It’s perfectly legal for Nigerians to purchase property in the UK and an increasing amount are.
As with any investment, it’s also worth seeking professional advice, so if you’re an African property investor considering buying property in the UK why not get in touch?
