As the world celebrates the first days of the Year of the Rooster and the Golden Week, Liverpool’s plans for its Chinatown is tipped to transform the city’s area for good.
Liverpool currently features Britain’s oldest Chinatown, which was created when its nearby docks where some of the busiest in the world. On top of that, the city is also one of the core members of the Northern Powerhouse initiative that PM May only recently gave its full backing.
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The new district, which floats a total value of £200m, is dubbed a “city within a city” and and is the embodiment of the Northern Powerhouse’s wide reaching plans.
The initiative hopes to attract a range of investors with the final goal to make the North an economic and cultural power of its own and one to rival that of London.
With the Golden Week traditionally being a holiday in China, foreign investors often spend the time hunting for new opportunities and investment possibilities. And Liverpool might give them exactly that.
Whether it’s design-led residential blocks in Chinatown, merging modern Britain with traditionally Chinese architecture, or luxury buy-to-let developments along the waterfront, Liverpool is currently one of the hotbeds for property development.
Although buy-to-let sales experienced a slight drop after the announcement of additional stamp duty charges for anyone buying a second property, the whole sector is slowly recreating its momentum, the Council of Mortgage Lenders has stated.
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A trend that has already started in Manchester over the last year, investors moving up north, shifting their focus away from London, is now continuing in Liverpool.
Experts expect Manchester, Liverpool and Leeds to experience a drastic increase in interest over the coming years as the yields are simply more inviting than those found further down south. Additionally, properties in towns and cities surround these hotspots, such as Derby, Stockport and Altrincham may also see a growth in interest.
So, if you wanted to sum it up, buy-to-let isn’t dead, it just moved further up north.
