Abstract The aim of this paper is to identify the key factors affecting foreign real estate investment (FREI) in the UK, with a particular focus in London. The panel regression method was used as a data analysis approach for this paper. Two panel regression equations were developed. The first equation has five explanatory variables including GDP, wage, property price, land price and interest rate. The second equation has the sixth explanatory variable, tourists, as well as the five variables used in the first equation. Pearson coefficient analysis was also conducted to identify the correlation between the dependent variable, FREI and the explanatory variables. For the first equation of panel regression analysis showed all five explanatory variables are statistically significant and have an expected impact on FREI. That is GDP and house price, have positive impacts on FREI, while wage, land price and interest rate have negative impacts. For the second equation, all explanatory variables, apart from interest rate and tourists, are statistically significant. Tourists have an unexpected negative impact on FREI. Pearson coefficient analysis showed that FREI has a statistically significant correlation relationship with GDP, wage, house price, land price and interest rate. FREI also has a positive relationship with all explanatory variables except interest rate.

中文翻译：

---

英国房地产市场的外国直接投资

摘要本文旨在确定影响英国外国房地产投资（FREI）的关键因素，尤其是伦敦。面板回归方法用作本文的数据分析方法。开发了两个面板回归方程。第一个方程式具有五个解释变量，包括GDP，工资，房地产价格，土地价格和利率。第二个等式具有第六个解释变量游客，以及第一个等式中使用的五个变量。还进行了Pearson系数分析，以确定因变量FREI与解释变量之间的相关性。对于面板回归分析的第一个方程，显示所有五个解释变量在统计上均具有显着意义，并且对FREI有预期影响。那就是GDP和房价，对FREI有正面影响，而工资，土地价格和利率则有负面影响。对于第二个方程式，除了利率和游客外，所有解释变量在统计上都是显着的。游客对FREI产生了意想不到的负面影响。皮尔森系数分析表明，FREI与GDP，工资，房价，土地价格和利率之间具有统计显着的相关关系。FREI与除利率以外的所有解释变量也具有正相关关系。皮尔森系数分析表明，FREI与GDP，工资，房价，土地价格和利率之间具有统计显着的相关关系。FREI与除利率以外的所有解释变量也具有正相关关系。皮尔森系数分析表明，FREI与GDP，工资，房价，土地价格和利率之间具有统计显着的相关关系。FREI与除利率以外的所有解释变量也具有正相关关系。