UK property developer taps Chinese market

Louis Bai

"We are not only here to deliver a product, but a service", said Bai. "We have a one-stop service which is to localize all the services and procedure so it is tailored to Chinese investors. We offer clients translated tax issues, legal issues and purchasing issues and through establishing the office, we try to localize all aspects. We also work with Chinese banks on issues regarding mortgages."

According to Thomas, London has unique advantages over other foreign property destinations as no capital gains tax or property tax is imposed, though there is a low rental income tax.

Even though there's a low rental income tax, London, unlike other foreign property destinations, does not impose capital gains tax or property tax.

"That along the well-established legal system, under supply of residential properties in London and the depreciation against the yuan, can really work towards the Chinese investor's favor."

Chinese investment in Britain rose to $4 billion in 2012, up 80 percent from a year ago, with London being the destination of 60 percent of China outbound direct investment in the United Kingdom.

"With such a vast potential market in China, we look for long term strategy and we are starting our business based on trust. Once we have built a strong trust relationship with our Chinese customers, our products will have great prospects in the Chinese market," said Thomas.