Wealth is a big factor in where they can settle. UKHK, another British NGO which helps Hongkongers arriving in Britain, found in a survey of 1,000 people who had either arrived in Britain or planned to move, that 70pc had assets worth under £500,000.
Ed Lewis, of estate agency Savills, said these Hongkongers were mainly “young people, often with young families, who have not accumulated as much wealth as the older generations”.
Nic Regan, of wealth manager Brewin Dolphin, added that there had been a notable uptick in demand from Hongkongers coming to Britain.
He said: “Some are looking to buy family houses in areas with good schools or where other friends have settled. If they are using the opportunity to be entrepreneurial, they may look for a location within reach of London or increasingly other hubs, such as Bristol or Cambridge, with clusters of similar businesses to their own.”
Moving to London’s outer suburbs and regional cities means Hongkongers can get far more for their money than they could at home.
While property in London is pricey, it is far outweighed by Hong Kong, which is the most expensive market in the world. A home in Hong Kong is on average US $1,987 per sq ft, according to property firm CBRE, compared with London at $803 per sq ft. The average property price in Hong Kong is $1.25m.
Ruby Lai, 37, moved to London from Hong Kong two years ago and bought a property in Sidcup, south-east London. “Being outside of central London offered more space and a better living environment, with an easy commute into my office, lots of parks and a low crime rate,” said Ms Lai, who works in finance and has British citizenship.
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