China Thought Leadership Paper: Evolution of Canary Wharf Why and What Makes it the Emerging Property Hotspot for Chinese Buyers and Investors?
For this Thought Leadership Paper, 11K Consulting and Canary Wharf Group invited 10 experts across different sectors in Asia and the UK to offer their unique industry perspectives on this key question.
Below are the top 8 key findings:
1. Canary Wharf has undergone a transformation from business district to cultural destination, attractive to residents and visitors alike. The style and amenities of the area are ideal for Chinese buyers and property investors.
2. Chinese buyers are changing from being predominantly property investors to also taking an interest in becoming owner-occupiers and Canary Wharf is just the kind of neighbourhood that is encouraging that shift.
3. The amenities, location, security and excellent transport links are among the features of Canary Wharf that are most appealing to Chinese buyers. Convenience is key and with Canary Wharf, everything – from work, to socialising, to shopping – is on the doorstep.
4. Thanks to the high-rise and modern nature of the residences in Canary Wharf, Chinese (including Hong Kong) investors will feel right at home. The area is similar in style to the developments they’re used to. Amenities and green spaces are all within walking distance, which is another key factor.
5. Thanks to Canary Wharf’s many attractions to Chinese property investors, there is a growing Chinese community here, which is, in itself, a draw to people considering the area.
6. Canary Wharf is continually developing, not just in its properties and infrastructure, but also in the diversification of the businesses it attracts. With tech and life science companies coming in, the area looks set to continue to experience innovation and future growth.
7. For Chinese families, education is still a major driving factor when it comes to property investment. The excellent location of Canary Wharf is a significant factor in this, plus it has become a destination for international students looking for a more luxurious lifestyle.
8. Ongoing projects at Canary Wharf include investment in green spaces and improved access to the waterways and nature, such as the transformation of Middle Dock later this year into a vibrant public green space with access to the water, which has real appeal for Chinese buyers. In addition, specialist shops and further investment in cultural amenities seem set to bring ever more buyers to this vibrant quarter of London.
If you have any enquiries or feedback about this paper, please contact Sally Maier-Yip, MD and Founder, 11K Consulting, at sally@11kconsulting.com. Happy reading!