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投资理财

检阅动荡市场,寻找稳定投资选择

John Gunning , Paul Hill 2015年07月16日

当中国投资者投资英国等海外市场时,他们需要注意什么呢?

    海外房地产投资愈来愈受欢迎,皆因中国股市波动,驱使大中华区散户投资者寻找更稳定的投资。最近三周内,尽管中央政府官员试图阻止指数下滑,但上证综合指数依然下跌约30%。

    在英国,尤其是伦敦,长久以来看到很多来自中国的投资。英国房地产咨询公司第一太平戴维斯指出,中国买家仅在2014年已豪掷33.2亿美元投资英国首都的房地产市场。时至今日,中国高净值投资者投资日趋多元化,远离投资价格过高的伦敦房地产,转而在英国二线城市寻找更好的投资价值。

    英国政府刺激伯明翰等主要二线城市的经济增长,以支持中国高净值投资者的投资。因此,来自亚洲的精明投资者期望能在当地房地产发展的早期阶段作出投资。但投资成功的关键,是他们必须利用自身对当地市场的了解来抓住合适的投资机会。。

    而亚洲发展商对此有深入了解,故被亚洲投资者聘用来管理他们于英国的房地产投资。此类的发展商深谙亚洲文化和习俗,同时了解英国当地市场,有助替亚洲投资者找到合适的投资机会。

    中国投资者尤其需要这类合作伙伴来确保其在英国等海外市场的投资得当。中国合格境内个人投资者(QDII2)计划将进一步促进此类需求的增长,因为特定人士可选择投资价值达其国际金融资产总值一半的项目进行投资,譬如房地产等。

    那么当中国投资者投资英国等海外市场时,他们需要注意什么呢?他们要注意当地税收及法律所带来的影响,及构思恰当的组合,同时确保所获的机会能同时反映他们个人的风险概况及收益要求。另外,他们亦要确保当地有适合的合作伙伴去搜罗这些机会,从开始到完成时能适当地进行项目管理,并定期更新及提供项目每个阶段的信息。

    “The Franklin”项目乃远离伦敦进行投资多元化的最新例子。该座现代建筑风格的综合大楼=位于伯明翰,提供79间公寓。莱坊已于香港开售「The Franklin」,该项目由英国当地发展商Court Collaboration与总部设于香港及代表其亚洲投资者的凯卓发展(Headland Developments)共同开发。

    愈来愈多来自大中华地区的投资者选择稳定的投资而转投英国,他们需与值得信赖的发展商合作,减低投资风险。于建设、发展及资金管理方面拥有良好记录,并拥有强大的当地发展伙伴网络的亚洲发展商,将成为中国投资者海外投资的不二之选。

    作者John Gunning (john.gunning@headlanddev.com) 及Paul Hill (paul.hill@headlanddev.com) 分别为凯卓发展的董事总经理及投资经理。

    Overseas property investments are again increasing in popularity as China’s stock market swings drive retail investors in Greater China to look for more stable investment alternatives. The Shanghai Composite Index recently fell approximately 30% over three weeks as central government officials tried to halt the slide in values.

    The United Kingdom, in particular London, has historically seen a lot of investment from China. In 2014 alone Chinese buyers splashed out US$3.32 billion on real estate in the UK capital, according to UK-based property consultant Savills. Today, high net worth Chinese investors are diversifying away from overpriced London properties into second-tier cities in search of better values.

    They are supported by the UK government’s effort to boost economic growth in stand-out second-tier cities such as Birmingham. As a result, the smart money from Asia is looking to invest in the early stages of select property development cycles there. But they can only do so armed with local market knowledge and the ability to seize the right opportunity, which remain key to investment success.

    Asian developers who have that in-depth knowledge are being engaged by Asian investors to manage their UK property investments. Such developers bring an understanding of the Asian culture and customs as well as local market knowledge to the task of finding the right opportunities for their Asian investors.

    That is the kind of partner Chinese investors need to be certain of getting their investments right in overseas markets such as the UK. China’s qualified domestic individual investor (QDII2) scheme will make this more important than ever, as a select group of individuals could have the option of investing up to half of the total value of their assets in international financial asset classes such as real estate.

    What do Chinese investors require when investing into a market such as the UK? There are tax and legal implications of which they need to be aware and have structured appropriately. They need to ensure that the right opportunity is sourced that reflects their individual risk profiles and return requirements; and that they have the right partner to source these opportunities, manage them appropriately from inception to completion as well as providing regular updates and information at each stage of the project.

    The latest example of the diversification away from London is The Franklin, a modern complex of 79 apartments located in Birmingham. Knight Frank has launched sales of The Franklin in Hong Kong, which is being developed by British local developer Court Collaboration in partnership with Hong Kong-based developer Headland Developments on behalf of its Asian investors.

    As more investors from Greater China turn to the UK for stable investment alternatives, they will need trustworthy developers with whom they can work to lower their risk. Asian developers with a proven track record in construction, development and funds management, who in addition have a strong network of local development partners, will become Chinese investors’ go-to sources for overseas investment, which we broadly term cross border investment with local execution.

    John Gunning (john.gunning@headlanddev.com) is Managing Director and Paul Hill (paul.hill@headlanddev.com) is Investment Manager of Headland Developments Limited.

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