Manchester has become one of the world’s leading cities for investment from overseas. With a proud industrial history, booming property market and rising population, this Northern city has become a magnet for overseas investment, from Israel to Singapore to the USA. With an impressive record of profitable property deals to overseas investors, they are now flocking to Manchester like never before.
Manchester was recently found to be one of the world’s top 10 cities for foreign direct investment (FDI), with billions of pounds already invested and plenty more to follow. During 2017, the Manchester-Liverpool region attracted an impressive 68 foreign direct investment projects. Second only to London in the UK, Manchester, ranked jointly with Liverpool in the IBM Local Location Trends 2018 report. It earned an impressive tenth place, ahead of cities like Barcelona and Toronto. In 2016, Manchester alone recorded 54 FDI projects, worth billions to the economy. With a highly skilled workforce, a slew of new infrastructure projects and citywide improvements, Manchester is an attractive destination to do business.
Manchester boasts huge returns which have been noticed by investors from around the world, earning it the title of ‘a hotbed for investment’. The city’s international reputation has developed over recent years as overseas investors are benefitting from previous larger investments in the city and have started to see impressive returns. Israeli investor Mayer Real Estate bought Peter House on Manchester city centre’s Oxford Street in 2011 for £14.7 million. He sold it just a few years later for a massive £23.7m deal; a £9 million profit in less than half a decade. With impressive rises in property prices across the region, many are looking to Manchester. Bold regeneration schemes are giving the whole of Manchester a facelift, and the development of Manchester Airport’s Super Terminal will give overseas investors a high class welcome to the city.
As investors fall out of love with London’s extortionate property prices and low yields, Manchester is positioning itself as a modern, forward-thinking, urban destination that can easily rival the capital. New companies advocating innovative technology, software and digital are also making Manchester more attractive, with future growth in these industries central to Manchester moving forward. Manchester is well known now for its high value property market and booming economy, and its reputation has spread around the world. The head of investment at Colliers International Manchester, Jonathan Mills, said:
“Manchester is now the first choice outside London, both for UK investors and buyers from overseas. Our region has the most mature market. Manchester is a brand they recognise and an economy large enough for them. European investors are intrigued by the story the city has to tell. Manchester has the stability they want, the liquidity they want and they can see strong drivers for the regional economy to grow. Investors see Manchester in the same category as Brussels or Amsterdam”
Regional cities, including Manchester, are appealing directly to foreign investors with dedicated efforts. Northern Powerhouse trade delegations, international events and marketing campaigns have all added to the awareness of Manchester as an ideal investment location. Property investment experts like RW Invest have been championing Manchester, developing luxurious properties there that appeal to wealthy overseas investors. In particular, Middle and Far Eastern buyers were highly active in terms of investing in regional UK cities last year and they almost doubled their 2016 spend on UK regional investments, which reached approximately £1.9 billion. Such huge volumes of overseas investment are making Manchester a truly global city and the levels of investment from around the world look set to continue.
from Finance Girl http://www.financegirl.co.uk/overseas-investors-flock-to-manchester/
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