Our first priority will always be addressing local housing need in Cambridge. Therefore, all private properties are marketed on a ‘locally first’ basis, then nationally for those that don’t sell.

Ironworks and Timberworks provide over 230 Council Homes to those living in the city, including to those most in need. The private properties on each site help finance the provision of the Council Homes. All private properties are marketed on a ‘locally first’ basis, then nationally for those that don’t sell. Mass purchasing by international investors can be very problematic in this city, so in an attempt to prevent such sales, Cambridge Investment Partnership imposed a cap of 25% on any overseas sales and a complete ban on multiple purchases. The 25% is not a target for sales to people living abroad.

CIP ran two events in Hong Kong, recognising that, owing to the political situation in HK, there are UK and British National (Overseas) passport holders who want to return home permanently. There are also many British HK residents who are trying to study in Cambridge, and wish to purchase a home here because it is popular and has an established HK community. As a proudly international city, Cambridge will extend the same welcome to them as it does to all those from overseas who choose to make our city their home.

Unfortunately, there has been other unauthorised advertising of the properties via YouTube which CIP is in the process of attempting to stop. Of the 207 properties sold to date, only 21 have been purchased by those living overseas.