Overseas buyers shortlisting the UK usually end at the same two names.
The investment case for each
Manchester is the proven story: two decades of city-centre apartment culture, the BBC, two giant universities and the strongest graduate retention outside London. Gross yields run about 6 to 7%. Birmingham is the catch-up story: bigger city, lower entry prices, HS2 and a regeneration pipeline, with yields in a similar band and more room in the price.
What the open data says
The UK publishes every sale since 1995 (Land Registry Price Paid), so both markets can be checked street by street rather than taken on a developer’s word. That transparency is the main reason the UK sits in our index despite offering no residency.
The risks worth naming
Leasehold terms on flats (ground rent, service charges, cladding history), selective licensing by council, and the 2% non-resident stamp duty surcharge. None are deal-breakers; all belong in the spreadsheet before the offer.
Decision shorthand: Manchester for the deepest tenant market today, Birmingham for the bigger discount on tomorrow.