【Newsletter】First-hand vs Second-hand Properties in the UK – In Depth Analysis
In recent years, Hong Kong people started to invest overseas properties. Due to the loosen requirements of BNO visa application, favourable immigration policies and pound’s depreciation, purchasing UK properties becomes a hot topic and new investment trend in Hong Kong.
However, the UK has a vast territory with 309 districts. Newcomers to the UK property market barely understand the rules and may have numerous doubts and questions. Apart from the factors such as location, price and facilities, you can also consider of buying first-hand or second-hand property. Both procedures are different and the difficulties encountered may vary. Therefore, we will explain the difference between first-hand and second-hand properties in the UK, and list out the matters needing attention and the pros & cons to avoid falling into a trap.