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UK | AdventureInCreativity | How expensive is the cost of living in London?

In the previous article “Residential returns in London are high“, we described the rental market in London, UK. This time, the British property consulting company British Adventure, with the theme of “British Life”, collected the quotations of the cost of living in London, England. If you want to know what’s going on in the London property scene, read on below.

London

London is the capital of the United Kingdom, possessing a thriving lifestyle, convenient transportation and many employment opportunities, but many people say that London rents and prices are very expensive, and moving to London may not be a good choice. Are these valid criticisms?

London spending

According to the UK website Homeviews, the average cost of living in the UK (including housing) for a single person is about £2,000 a month, and a family of four needs about £3,500. In London, a single person needs an average of £2,892 a month, while a family of four needs £4,850. It can be seen that just within the UK, the cost of living in London is indeed higher. There are many reasons for the high expenses, such as the high rent in London, which costs an average of about £2,219; and various forms of consumption and entertainment are also more expensive. A cocktail in a London bar holds a hefty £11 price tag, and dinner for two in a pub is also expensive, requiring you to fork up £37.

Living expenses

However, the article also points out that living expenses have a lot to do with personal living habits. Having the most expensive dining and entertainment in London is not a necessary expense. If you can save in this regard, your overall cost of living can be greatly reduced. Moreover, the types of housing in London are very diverse. First of all, the rent in the outer suburbs of the city is much cheaper than that in inner London, and you can also consider renting a subletting house (HMO) to live with others to save on rent. In fact, compared with other big cities in the world, London is not expensive at all. Taking a family of four as an example, the average expenditure in New York is as high as £6,000, which is £1,150 more than in London. In this way, London can be regarded as a very affordable international city.

London has long been an international financial center, and the cost of living is more expensive than other cities. Many buyers from all over the world invest in properties in London. We understand that it takes courage to invest overseas, but with adequate data collection, your confidence will be greatly enhanced. We regularly publish relevant information on the UK, covering cities such as Salford, Liverpool and other destinations, to help you choose the right choice.

Information of AdventureInCreativity  

AdventureInCreativity (AIC) is a UK registered property consultancy company. Their multicultural team includes UK natives and expats from Hong Kong and other parts of Asia, rooted in the UK and connected to Asia. They focus on helping clients find high-quality properties in the UK. The team has many years of UK property experience, local connections, and understanding of the unique requirements of Asians.

This article has been reproduced in text with the permission of the UK property consulting company AdventureInCreativity.


The UK mortgage information:

  1. Help to Buy | The UK government helps you get a property with 5% down
  2. Buy to Let | The UK real estate mortgage loan scheme | Top 10 Best Buy to Let areas

The UK local information:

  1. Salford
  2. Liverpool

Property investment is a long-term game and planning is the key. Watch more videos for a better decision! 

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UK | YouTuber Mud Siu | Tips on different areas and their environments in the London, UK

Youtuber Mud Siu starts off by telling us how he has lived in multiple places during his stay in the UK, and through those experiences he has newfound knowledge about certain areas and the culture that they have. Mud Siu states that he will be sharing his journey of moving around the UK and give tips on what to look out for.

Mud Siu’s Airbnb experience 

Mud Siu shares his first encounter with living in the UK by talking about the Airbnb that he lived in. He said that he had a great first experience with the owner of the bnb being very friendly and responsive, he says that it is quite common for owners of not only bnbs but also rental owners to give late responses or even straight up ignore tenants. This was not the case with Mud Siu’s owner, whenever there was an issue with the accommodation, it would be fixed as quickly as possible. Mud Siu also states that paying in cash can also simplify the process as you are directly giving the owner the amount instead of giving airbnb part of the cut.

Mud Siu mentions that the place itself was also quite nice with new furniture and appliances, a patio was also provided and it really added to the experience, especially during this pandemic. Having a place for people to get a fresh breath of air was really great for his mental health, which is why he highly suggests it.

Zone 2 and 3 specialties

As you would expect, being close to the city center, transportation is reasonably convenient. Even though buses and the sort are available, there are 4 main lines that cover most of the London area, or at least locations that you will frequently need to go to. Mud Siu also lived in a location that makes all 4 of the main lines around 10 mins away on foot. For Mud Siu, it was very simple as he had the choice of choosing whichever train line was most convenient.

Zone 4 specialties

Even though living in zone 4 is less urban, with only one train line to aid your travels, Mud Siu finds getting used to the environment easier than once imagined. He states that zone 4 may not be the city center, yet still the convenience is unparalleled. He uses the example of takeouts, as everyone lives on the street level, finding your home is much faster in the process, making the experience much swifter. On top of that there are open markets with fresh produce, a supermarket that is also nearby, a few tescos as well, such that even when you don’t want takeouts, everything is always near you. Thus making it very easy to immerse yourself into the environment that is new to you. 

The demerit about zone 4 is that it is a rougher area, crime rates may be slightly higher and the streets may not be as clean, but Mud Siu believes that that statistic is only as such. For the most part, living in this area is still quite safe even during night times. Mud Siu goes as far as to say that walking alone in the street at night doesn’t even feel dangerous. 

Mud Siu lives in Sutton, he mentions that there are a lot of Hong Kongers near this area, you will constantly hear Cantonese around the area, making this neighborhood a place that most Hong Kongers can relate to and live in.

The price in this area is slightly higher than what Mud Siu would like, however, that is to be expected. By the end of the day, living near central London naturally means that one would have to spend more money on the apartment itself. Mud Siu also mentions that despite this high price, most valuable properties disappear off of the market within days or sometimes even hours of its posting, thus making it difficult for those without cars to be able to spot valuable property as others would beat you to getting their hands on the property.

Mud Siu makes it clear that he believes that not all zones in London are the same in terms of the general feeling and even the culture. Sometimes you would be able to find people that are more in tune with your crowd, such as finding more Hong Kongers in Sutton. Or maybe if you find convenience as more of an important factor, then places closer to zone 1 may be more up your alley. The point is that you should always look into a specific zone or area and its features before making a decision as a lot of factors can vary even in London.

Mud Siu’s Story

YouTuber Mud Siu and children have migrated to the UK. He shares what he sees and hears from other Hong Kong immigrants. He hopes to help Hong Kongers that are planning to move to the UK!

This article has been reproduced in text with the permission of the YouTube channel 乜少英歷.

The UK related information:

  1. UK Mortgage | 4 things need to aware when applying for a mortgage
  2. UK Pre-sale Buildings | What you need to know about UK pre-sale buildings | 5 major benefits

The UK mortgage information:

  1. Help to Buy | The UK government helps you get a property with 5% down
  2. Buy to Let | The UK real estate mortgage loan scheme | Top 10 Best Buy to Let areas

Property investment is a long-term game and planning is the key. Watch more videos for a better decision! 

To receive more property information relating to the UK, Canada and Hong Kong, sign up to our newsletter at the bottom of this page.

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UK | AdventureInCreativity | Residential returns in London are high

Don’t know what pre-sale buildings are? Read this article (UK Pre-sale Buildings | What you need to know about UK pre-sale buildings | 5 major benefits) to find out, and also remember to do some research on which type of housing to invest in! Recently, the UK property consultancy company AdventureInCreativity launched an article titled “Pandemic subsidies to stimulate London rental market”, giving insights into the London real estate market and the investment experience. If you want to know more about London, read on below.

London rents soar

The British epidemic has subsided, and office workers have returned to their workplaces, stimulating the London rental market. The Evening Standard reported that rents in London surged 10.9% last year and surpassed pre-pandemic figures for the first time. The average monthly rent in London is now £2,142. According to British property search engine Rightmove, the increase in inner London reached 16.2%, with Islington, Kensington, East Sheen, Chiswick and St John’s Wood having the fastest growth.

London is in short supply

Real estate agents say demand for rental properties has surged as the economy recovers, alongside the reopening of offices and universities as a large number of office workers and students flood back into London. At the same time, many tenants who rented units at low prices during the epidemic continue to stay in their original properties to enjoy lower rents. As a result, the number of properties on the rental market has stayed low, causing rents to rise sharply due to supply outpacing demand. Take Wandsworth (SW18) as an example. Usually, there are about 350 rental listings in this area. At present, there are only 108. It is hard to find rental properties, and the competition among tenants is fierce. Chestertons, a real estate agency, said that some rental properties have been rented out after only three hours of being listed, and tenants have been able to directly place an order without inspecting the property.

London is an international financial center, and rising property prices and residential demand have attracted global buyers to invest in properties here. We understand that it takes courage to invest overseas, but with adequate data collection, your confidence will be greatly enhanced. We regularly publish relevant information on the UK, covering cities such as Salford, Liverpool and other destinations, to help you choose the right choice.

Information of AdventureInCreativity  

AdventureInCreativity (AIC) is a UK registered property consultancy company. Their multicultural team includes UK natives and expats from Hong Kong and other parts of Asia, rooted in the UK and connected to Asia. They focus on helping clients find high-quality properties in the UK. The team has many years of UK property experience, local connections, and understanding of the unique requirements of Asians.

This article has been reproduced in text with the permission of the UK property consulting company AdventureInCreativity.

The UK related information:

  1. UK Mortgage | 4 things need to aware when applying for a mortgage
  2. UK Pre-sale Buildings | What you need to know about UK pre-sale buildings | 5 major benefits

The UK mortgage information:

  1. Help to Buy | The UK government helps you get a property with 5% down
  2. Buy to Let | The UK real estate mortgage loan scheme | Top 10 Best Buy to Let areas

Property investment is a long-term game and planning is the key. Watch more videos for a better decision! 

To receive more property information relating to the UK, Canada and Hong Kong, sign up to our newsletter at the bottom of this page.

Follow us on:

👉 Facebook: https://www.facebook.com/Denzity.io

👉 Instagram: https://www.instagram.com/denzity.io/

👉 LinkedIn: https://www.linkedin.com/company/denzity

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UK | YouTuber Ying Tse | A guide to East London Zone 4 Royal Arsenal Riverside

London is a major international city, and it should come as no surprise that Hong Kongers find it so appealing. But how would you go about finding a place in London if you’re part of the average working class?  YouTuber Ying Tse from BN撈 is going to cover these problems in this video, all in hopes of solving any residential concerns you may have.

Feeling the cultural character that is often overlooked

Ying Tse mentions the deep rooted cultural value that is present in Woolwich, an area in the southeastern side of London, noting that it is a good reminder of something like the West Kowloon District. With a theater that offers operas, movies and much more, Woolwich Works is a cultural center that provides citizens with an experience of historical buildings that were renovated into a museum and restaurant. 

Ying Tse also talks about Woolwich from a logistical point of view. Apparently, Woolwich also gives you the option to take a boat out to Central London. This type of accessibility gives most residents more freedom as to what type of transport they choose to use. Even on a day with bad traffic, it can all be avoided just by taking the scenic route, which can be gazed at while on the boat. But best of all, you get to live near and be able to commute to Central London while not having to pay the premium price for it.

Woolwich flats and their features

Ying Tse mentions that the flats in this area have selling points beyond the pricing and convenience that are exclusive to this area

  • Multiple outstanding schools for your children; thus finding a school that suits your child would be simple
  • Fabulous view; Woolwich is near the ocean, giving it an exclusive coastline view would be sure to blow you away
  • Apartments that are large compared to the average Hong Kong standard (closets and storage rooms)
  • Apartments in the UK also commonly have facilities that are provided for tenants, things like swimming pools, gyms and even cinemas, making it more desirable than houses in some people’s eyes. 
  • Pricing for 3 bedroom apartments would stand at around £900, 000 for around 1100 square feet of room, while 2 bedroom apartments could go as low as £600, 000.

Ying Tse makes it quite clear in this video that living near Central London with transportation that is extremely convenient while also living affordably is quite possible. All of these can be achieved by the average person without having to live out of your comfort zone. Hong Kongers interested in moving to Woolwich are recommended to watch the video for more details.

BN撈 information

The name of the channel “BN撈” means refers to Hong Kong people – British National (Overseas) – that are hoping to integrate into British culture and life in pursuit of a better life. The word “撈” is a Guangdong word that Hong Kong people often mention, displaying our desire to pass on Cantonese to the next generation. Hence, the channel’s name “BN撈”.

BN撈 shares with you some clips on how to integrate into the local British culture, and continue to carry forward the spirit of Hong Kong people in different places, knowing how to drink, eat and play. Due to the limited power of one’s own efforts, netizens are also welcome to provide information that can help other Hong Kong people integrate into British culture.

This article has been reproduced in text with the permission of the Youtube BN撈.


Property investment is a long-term game and planning is the key. Watch more videos for a better decision! 

To receive more property information relating to the UK, Canada and Hong Kong, sign up to our newsletter at the bottom of this page.

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Real Estate Knowledge

Cost of Living 2022|The UK vs. Hong Kong

With Hong Kong’s inflated property prices and UK’s affordability on the rise, it is more crucial than ever to budget your cost of living. Which option is cheaper? We’ll be examining housing, food expenses, transportation and taxation to find out!

Watch the video above to take a deeper look at each category with us. Here’s a quick summary of our breakdown.

Housing, Rent & Utilities – Go for the UK!

Using a one-bedroom apartment as the benchmark, we can consider two options.

  1. Rental – on average, it would cost you 17, 800 HKD per month in Hong Kong, 600 dollars less than the 18, 600 HKD you would have to fork up in the UK.
  1. Property Purchase – the average property price tag in Hong Kong is DOUBLE that of the UK at 24, 600 HKD per square ft. compared to 12, 000 HKD per square feet respectively.

However, rent and utility prices in the UK vary largely depending on location. Rent in the city center tends to be expensive, while utility prices in rural areas may be higher as facilities tend to be sparser.

Food, Groceries & Restaurants – Depends on Your Lifestyle!

If you choose to cook for yourself, you’ll spend 65.7% more on groceries in Hong Kong than in the UK as Hong Kong imports most of its meats & greens.

In contrast, almost 70% of British land is used for agricultural purposes so you have a wide selection of supermarkets to choose from, and competition keeps prices down.

2000 to 2016 Local Production of Vegetables in Hong Kong; Legislative Council

But what if you were to eat at a restaurant, an average meal in Hong Kong would cost you only 60 HKD, whereas one in the UK would burn a whooping 140 dollar hole in your wallet.

Transportation – It’s a Draw!

Public transport is almost 40% cheaper in Hong Kong but owning a car is a whole different story.

While vehicle prices are similar in both places, petrol in Hong Kong costs 5 dollars more per liter than in the UK. On top of that, it’s just much harder and more expensive to park in Hong Kong.

Taxation & Hidden Costs – Tied Again!

Hong Kong has one of the lowest taxation rates in the world. The standard salary tax stands at only 15%.

Income tax rate in the UK on the other hand STARTS at 20%, with the ability to go up to 40% or even 45% depending on individual income. 

Tax Bands in the UK 2021 to 2022; gov.uk

The caveat is that Hong Kong has a so-called “Hidden Tax” because what you save in taxation merely bleeds away into payments on expensive rent and housing mortgage costs.

Make the Right Decisions

It’s important to consider your lifestyle and income when making the decision to move to a new country. Watch the video above to get a detailed view!


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Real Estate Knowledge

London? Why not invest in Liverpool?

The UK has always been a hot spot for investment by many Hong Kong people. When you ask the average person where to invest in the UK, the general opinion is always London. To be honest, their reasoning is valid, there are reasons why London is so popular. Its locational conveniences, the fact that it’s an international city, and also its diverse community. However as investors, we need to look outside of the box. Sometimes, an investment isn’t just a lot of money after you sell, but instead a comparison between how much you invested and how much you gained in return. 

Liverpool overview

In 2020, Liverpool was named the 3rd best UK location to start a business and is home to business and industry from a wide range of high-value sectors. Liverpool also has the largest wealth management center outside of London, with them holding the world’s largest business event for the third year in 2018. Tech Nation also gave Liverpool a 79% rating for Tech Sector Growth Potential, predicting its inevitable growth as a tech hub.

These are just some facts that tell us that Liverpool is up and coming. The thing is, no matter whether you’re looking to live in the property you invest in, or sell the property, the facts make it desirable. Not only desirable to you as a savvy investor, but also as a tenant who’s either looking to rent or buy, thus making the investment worth it. 

A feature of Liverpool–low entry

Due to certain political changes, a lot of people right now are looking for an easy way out. This may be it. Liverpool is currently undervalued, meaning that the price for housing is lower than the average in the UK. If you’re starting out, trying to find your first way into the real estate market, Liverpool is the place you’re looking for.

In 2020, places such as Kensington, Toxteth and Bootle all saw great spurs in growth, mostly for student lettings. Liverpool is at its sweet spot right now, where there are signs of increasing demands, while still not enough of it for the prices to be jacked up completely yet. A sight that is perfect for investors. The fact of the matter is, London is getting too pricey for the middle-class, so what we should do now is seize the opportunity. Purchase where the demand is going to go next. If you are looking into the idea of saving and rolling your money, Liverpool is a great starting point.

High and stable rental yield

When finding a place to purchase for renting, the most important figure is the rental yield. This is a statistic that Liverpool prides itself off of. In 2019, Liverpool was named the best location in the UK for buy-to-let yields. With postcords L7, L6 and L1 with the highest rates, upwards of 8%. Even in general, Liverpool’s rental yields are around 5%, which is miles better than London’s 3%. 

Conclusion

We believe that there are a lot of hidden hotspots in the UK. Sometimes, it’s easier to look for what everyone trusts. However, going against the norm is what we as Denzity also believe in. Just because most people believe in something doesn’t mean the savvy investor has to follow.

Whatever your preference is, Denzity is here to help you make a better decision. Our Portal lists many overseas properties managed by trusted real estate companies all over the world. If there is a place to find your dream home this would be it!


To receive more property information relating to the UK, Canada and Hong Kong, sign up to our newsletter at the bottom of this page.

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Denzity Weekly Digest: Top topics on real estate investing in the United Kingdom

This week, we want to share with you the top topics on real estate investing in the United Kingdom.

For outside of London, where is the opportunity now for a property that expected to sell in 5 to 7 years’ time?
Started by mirakit1975 in Mainboard – Ask Us Anything

As a foreigner that invests in a UK property at a total of GBP 700,000 including equity and debt, how much tax would I pay?
Started by mirakit1975 in Mainboard – Ask Us Anything

What is the cap rate for the area in Manchester [United Kingdom]?
Started by rickyhui83 in Mainboard – Ask Us Anything

I don’t understand the council tax in the UK. Why is the rate different for all apartments?
Started by mirakit1975 in Mainboard – Ask Us Anything

What is the process of buying a property (an apartment) in London?
Started by mirakit1975 in Mainboard – Ask Us Anything

Thank you and have a great weekend,

Denzity
https://forum.denzity.io/