Hong Kong nationals continue to lead as foreign homebuyers in the property market in England and Wales, according to research by Benham and Reeves.
Benham and Reeves submitted a freedom of information request to the Land Registry to determine the number of titles registered to individuals with an overseas correspondence address.
The research found that, as of 2024, 189,793 properties in England and Wales are owned by foreign homebuyers, reflecting a 2.6% increase from 2023.
Hong Kongers topped the list of foreign owners, with 25,972 homes, representing 13.7% of all foreign-owned properties, an increase from 13.3% the previous year.
The number of Hong Kong owners rose by 5.7% year on year, marking the third largest annual increase among the top 20 nations.
Singapore ranked second, with its nationals owning 15,635 properties, or 8.2% of foreign-owned homes.
The United States followed in third place, with 12,405 properties, a 5.5% increase from 2023, accounting for 6.5% of all foreign owners.
The UAE held fourth place with 5.8%, and China moved up to fifth with 5.2%, surpassing Malaysia, which had 5.1%.
Chinese ownership increased by 12.9%, the largest year on year rise among the top 20 countries.
Ireland, Australia, Kuwait, and France completed the top ten foreign nations.
Israel entered the top 20 at number 20, replacing New Zealand, after a 6.6% increase in property ownership from the previous year, the second largest increase among the nations.
Marc von Grundherr, director of Benham and Reeves, said: “When it comes to foreign buyer activity across the property market, Hong Kongers remain by far the most dominant nation and this has largely been the case since the launch of the British Nationals Overseas Visa in 2021.
“In fact, we’ve seen the overall proportion of market activity accounted for by Hong Kong nationals increase in the last year alone, which demonstrates that demand is not only strong, but it’s growing stronger by the year.
von Grundherr added: “Of course, there are other factors influencing foreign demand for London bricks and mortar, with more buyers from the United States entering the market following the re-election of Trump, whilst Israel has also entered the top 20 following the heightening of the conflict in Gaza.”
