These countries are reshaping buy-to-let demand

For years, overseas buy-to-let investment has been associated with a familiar set of markets. However, the profile of international landlords is now beginning to change. New data from Skipton International shows demand is shifting, with stronger activity from Singapore and Hong Kong, softer volumes from parts of the Middle East and other regions beginning to emerge as favourites.

In a recent interview with Mortgage Introducer, Lucy Lewis, Senior Manager – Mortgage Sales at Skipton International, explained what's driving those changes, what they mean for intermediaries and why understanding where overseas demand is coming from has become more important than ever.

“[The profile of overseas buy-to-let applicants] has shifted more than people might expect,” explained Lewis. “Singapore and Hong Kong stand out more clearly in our book than they did a decade ago, and we’re seeing lower activity from some Middle Eastern markets. That contrast is interesting. It suggests the pool of overseas buy-to-let applicants is not static. It’s being shaped by global events, wealth movement, currency, tax and changing attitudes to UK property. Intermediaries who stay close to those shifts will be better placed to spot where demand is building, rather than working from assumptions about where international landlord clients have traditionally come from.”

Hong Kong and Singapore top overseas ownership rankings

As Lewis explained, in today’s market Singapore and Hong Kong stand out more in Skipton International’s book - and that’s not really down to one single driver. Instead, it’s come from the fact that both locations are already well-established markets for UK property ownership.

“[Those ties are mainly] through education, family, work and investment,” added Lewis. “That foundation has been there for a long time. [What’s more], our year-to-date data shows that activity from those markets is significantly higher than it was a decade ago. Analysis of HM Land Registry data reported earlier this year found Hong Kong and Singapore to be the two largest overseas ownership groups in England and Wales, with Hong Kong accounting for 13.8% of internationally owned homes and Singapore [accounting for] 7.9%. In London, both were again the top two.

“Whether that reflects long-term confidence in the UK as a place to hold property, tax considerations, currency, or simply deepening community links, it’s [more likely] a combination of all of those things.”

But it’s not all thriving in the Middle East. According to Skipton International’s data, there’s lower activity in certain regions - notably the UAE, Qatar and Saudi Arabia.

“Hamptons, which is part of the Skipton Group, has reported that Middle Eastern buyers accounted for just five percent of overseas-based house hunters in Q1 2026, the lowest share since 2013, with registrations falling following the outbreak of war in the region,” revealed Lewis.

“We should be cautious about attributing our data directly to that cause, but it appears to align with a broader pattern of caution. There are likely other factors too: rates, currency, tax and the relative appeal of other markets. Lower activity does not necessarily mean no demand. Some clients may be pausing rather than stepping away entirely. That shifts the broker opportunity towards timing, relationship-building and being ready when confidence returns.”

For Lewis, the strong growth from Singapore and Hong Kong appears more structural than event-driven, as both markets have deep, long-standing links to UK property. However, that’s not the case for the Middle East.

Overseas buyers making ‘more deliberate’ decisions

“The Middle East picture, [however], looks more event-driven at this point,” added Lewis. “The data suggests activity has pulled back, and external reporting points to geopolitical uncertainty as a contributing factor. That could mean some buyers are waiting rather than walking away. For intermediaries, that distinction is useful. Structural changes may indicate where longer-term opportunity is building. Event-driven dips may be more about knowing when clients are likely to be ready to move again and staying close to them in the meantime.”

The common trend here is that overseas buyers are clearly making more deliberate decisions when it comes to buy-to-let investments. As Lewis told Mortgage Introducer, buyers are constantly weighing the UK up against other options - specifically with regard to stability, currency, long-term value and taxes.

However, while these considerations apply across all markets - the reasons behind them differ greatly.

“[The] Singapore and Hong Kong activity appears to reflect established, long-term confidence in UK property,” explained Lewis. “The Middle East picture looks more affected by current uncertainty. North America is worth watching separately. Hamptons has reported that North American applicants, mainly from the US and Canada, accounted for a record 19% of overseas-based applicants in Q1 2026, up 13% year on year even as overall international registrations fell. Our own data tells a more nuanced story there, so we would position it as a watch area rather than a confirmed Skipton trend.

“For intermediaries, the practical point is not to look for one global explanation. The more useful question is: what is driving this particular client, from this particular market, right now?”

In 2026, Lewis argues that intermediaries should also avoid relying on any previous assumptions around where exactly overseas buy-to-let demand comes from - because it will only continue to move and shift as the months and years go on.

“The most useful conversations are often with clients who already have an international dimension to their lives: UK property, family here, children studying here, income earned overseas, or a long-term reason to maintain exposure to the UK market,” she added.

“Qualify early and properly. Where is the client based? Where is their income earned, and in what currency? Do they have a UK credit footprint? How quickly can they evidence income and source of funds? Getting these answered early is one of the best things an intermediary can do to ensure that [the] case goes smoothly.”

‘That is where specialist understanding earns its value’

As the overseas buy-to-let market continues to grow and evolve, having a deeply rooted and highly specialist understanding of the market is more important than ever before. At Skipton International this really begins with understanding its overseas applicants - knowing how they live and earn rather than treating international buy-to-let as a fixed profile with a fixed checklist.

“As the mix of applicants changes, the questions change too,” added Lewis. “Different markets bring different income structures, currencies, documentation standards, residency positions and credit histories. A case from Singapore looks different from one from Dubai, which looks different again from one from Toronto. Knowing what a well-packaged case looks like from each of those starting points is not something you can develop quickly.

“That is where specialist understanding earns its value. It is not just about criteria. It’s about understanding how applicants live, earn and structure their finances, knowing what documentation is realistic to obtain, where extra context will be needed, and how to help intermediaries avoid the delays that can derail a case. As overseas applicant profiles continue to evolve, that experience becomes increasingly important.”

For more information, visit: Expat mortgages with fast decisions | Skipton International

This article was produced in partnership with Skipton International.