Nigerians Rank Second in UK Buy-to-Let Property Investments

Nigerians have emerged as a prominent group in the UK buy-to-let property market, ranking second among foreign investors, with a 13% increase in new companies registered in 2016. This trend is highlighted by research indicating that Nigerians accounted for 647 new buy-to-let companies, following Indian investors.

The appeal of northern England, particularly cities like Manchester, Liverpool, and Salford, is attributed to gross rental yields ranging from 5% to 8%, which are more attractive compared to London. The depreciation of the Naira against the Pound, falling from approximately 480 to nearly 1,900 by 2025, has further incentivized Nigerian investments as a currency hedge.

Additionally, the UK tax environment for foreign landlords has evolved, with changes in tax deductions affecting how Nigerian investors manage their properties. The article emphasizes the strategic shift in Nigerian capital flow towards northern English properties, reflecting a broader trend of diaspora investment in real estate.