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tomandlu

Stop Rich Overseas Investors From Buying Up Uk Homes

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Stop rich overseas investors from buying up UK homes, report urges

Radical plans to stop rich overseas residents who live outside the EU buying British houses – as well as tight restrictions on them acquiring "newbuild" properties as investments – will be published in a report by a leading rightwing thinktank on Monday.

Free-market organisation Civitas castigates government ministers for allowing wealthy foreign investors to stoke a property boom that it says is driving up prices and locking millions of UK citizens out of the housing market.

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Free-market organisation Civitas

do civitas ever speak of the supply side or are they one of 'those' 'free' market pushers?

IIRC the report did discuss it, but suggested that, unless foreign buyers were restricted, it would be pointless to increase supply. I think there was also a suggestion that exemptions would be made if the FB funded the building of another home for each one they bought (i.e. to neutralise the purchase).

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IIRC the report did discuss it, but suggested that, unless foreign buyers were restricted, it would be pointless to increase supply. I think there was also a suggestion that exemptions would be made if the FB funded the building of another home for each one they bought (i.e. to neutralise the purchase).

IMO the restrictions are aimed at the wrong targets. We now have our own hugely affluent mortgage free populace sitting on six and seven figure portfolios and I am afraid BTL is always going to be a temptation. I really don't think many overseas buyers want the hassle of BTL. But Rupert whose mother has just died and left him her 650k tax free inheritance from selling her paupers terraced house in Enfield might have other ideas, six new builds in Coventry might look tempting.

Who needs first time buyers when out inheritance tax system allows family property hoardings Tony Bliar style.

Edited by crashmonitor

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