It's not just London where agents are trying to draw in Far Eastern investment buyers - and in the case of Scotland, it is because domestic demand is less buoyant than before.
Glasgow estate and letting agency DJ Alexander has resuscitated its sales roadshow to Hong Kong, which it had run annually from 1990 to 1999 when it was showcasing prime houses and flats, chiefly in Glasgow and Edinburgh.
At the time there was so much home-grown demand for this type of property in Edinburgh and Glasgow from investors based in Britain that we did not see the need to jet halfway round the world to market them says managing director David Alexander.
However with the domestic market less buoyant than previously, Alexander says re-focussing on the Far East makes sense .
The links between Great Britain, but particularly Scotland, and Hong Kong are still strong and Edinburgh and Glasgow properties, suitably located, are considered to be safe investments offering good rental yield while the current level of capital growth is considered acceptable at a time of record low interest rates says Alexander.
Unlike Scottish/British expatriates, whose investment preferences are traditional properties in locations like Edinburgh's New Town and Glasgow's Park Circus, the Chinese investor is much more drawn to high-end new-build he says.
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Comments
It does make sense to be fair. If no one is approaching you for business - you should be doing the approaching. Real estate is becoming more prudent and difficult and many parts of the UK are depending on foreign investments to deal with certain aspects of the 'property crisis'. But is it really a crisis