Ah-so Posted December 18, 2018 Share Posted December 18, 2018 The Times reports a sharp reduction in foreign landlords.... Quote Overseas landlords have been deserting Britain owing to higher taxes, slowing house price growth and shrinking rental income on the back of the weak pound since the Brexit referendum. Hamptons International, the estate agent, said that the proportion of homes let by an overseas landlord had more than halved in eight years, from 14.4 per cent in 2010 to 5.8 per cent. London has experienced the biggest drop, from 26 per cent to 10.5 per cent in that time, with the share falling by 4.7 percentage points in the past two years. ? Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted December 18, 2018 Share Posted December 18, 2018 “from 26 per cent to 10.5“ So at one stage London had 26% foreign landlords?! Dangnabit that’s high. Quote Link to comment Share on other sites More sharing options...
Ah-so Posted December 18, 2018 Author Share Posted December 18, 2018 12 minutes ago, PeanutButter said: “from 26 per cent to 10.5“ So at one stage London had 26% foreign landlords?! Dangnabit that’s high. One thing is that I'm not sure about is whether they are going off of their customer base rather than some wider piece of research. The former I imagine, so it may not be a representative pool, but the figures are certainly material. Quote Link to comment Share on other sites More sharing options...
localhero1983 Posted December 18, 2018 Share Posted December 18, 2018 2 hours ago, Ah-so said: The Times reports a sharp reduction in foreign landlords.... ? I am looking forward to the day where I am not shown a photo on a mobile phone from Polish BTL landlords and their workers in Cambridge of the big amazing homes they own back home in Poland paid for by the professionals they rip off in rent for crappy HMO rooms Quote Link to comment Share on other sites More sharing options...
zugzwang Posted December 18, 2018 Share Posted December 18, 2018 Explodes the myth about a cheaper pound bringing in more foreign money. Quote Link to comment Share on other sites More sharing options...
Doesn't Commute Anymore Posted December 18, 2018 Share Posted December 18, 2018 2 hours ago, PeanutButter said: So at one stage London had 26% foreign landlords?! Dangnabit that’s high. Wow, that's high. Priced out youth, and a lot of resulting profit siphoned off abroad. The UK has lost its way so badly on the welfare and training/education of the next generation. Quote Link to comment Share on other sites More sharing options...
monkeyman1974 Posted December 18, 2018 Share Posted December 18, 2018 36 minutes ago, zugzwang said: Explodes the myth about a cheaper pound bringing in more foreign money. Never understood the cheap pound / overseas BTL investor shizzle. If you want a currency play, take a currency play Overwise, your yield is the same as the rent and property are in the same currency (to state the obvious) Unless of course, you want to holiday in London Luton. Suspect it's more to do with POCA, extra stamp, disclosures etc Quote Link to comment Share on other sites More sharing options...
jonb2 Posted December 18, 2018 Share Posted December 18, 2018 It will just move up the food chain. Only foreign billionaires and corporations need apply. https://www.haaretz.com/israel-news/business/riding-the-brexit-wave-an-israeli-just-bought-1-200-london-apartments-in-cash-1.6759335 https://www.newstatesman.com/spotlight/housing/2018/10/record-numbers-chinese-buyers-flock-uk-housing-market Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted December 18, 2018 Share Posted December 18, 2018 54 minutes ago, monkeyman1974 said: Never understood the cheap pound / overseas BTL investor shizzle. If you want a currency play, take a currency play Overwise, your yield is the same as the rent and property are in the same currency (to state the obvious) Unless of course, you want to holiday in London Luton. Suspect it's more to do with POCA, extra stamp, disclosures etc Ditto, surely if you don't live in the UK and are in it for the long term you want to invest when the pound is weak (unless you think it will only get worse). I am not saying that foreigners should invest in BTL in the UK. Quote Link to comment Share on other sites More sharing options...
jimmy2x3 Posted December 18, 2018 Share Posted December 18, 2018 the solution is to stop foreign ownership like new zealand has done. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted December 18, 2018 Share Posted December 18, 2018 34 minutes ago, jimmy2x3 said: the solution is to stop foreign ownership like new zealand has done. +1 Quote Link to comment Share on other sites More sharing options...
dougless Posted December 18, 2018 Share Posted December 18, 2018 1 hour ago, jimmy2x3 said: the solution is to stop foreign ownership like new zealand has done. +3 or tax the pants off it. Quote Link to comment Share on other sites More sharing options...
Ah-so Posted December 18, 2018 Author Share Posted December 18, 2018 1 hour ago, jonb2 said: It will just move up the food chain. Only foreign billionaires and corporations need apply. https://www.haaretz.com/israel-news/business/riding-the-brexit-wave-an-israeli-just-bought-1-200-london-apartments-in-cash-1.6759335 https://www.newstatesman.com/spotlight/housing/2018/10/record-numbers-chinese-buyers-flock-uk-housing-market Quote As Britain anguishes over its effort to negotiate a deal to leave the European Union, one Israeli is swimming against the tide and is hoping to make a fortune off Brexit. He has bought up 1,200 apartments in London over the past half year. So apparently he is now Britain's biggest landlord. Quote Link to comment Share on other sites More sharing options...
jonb2 Posted December 18, 2018 Share Posted December 18, 2018 4 minutes ago, Ah-so said: So apparently he is now Britain's biggest landlord. Yes. It won't stop there after Brexit IMO. The whole underlying thrust of the ERG is disaster capitalism. Deals like this are only the beginning. Quote Link to comment Share on other sites More sharing options...
winkie Posted December 18, 2018 Share Posted December 18, 2018 Weak pound means property is even cheaper to buy......the very wealthy individuals or collectives can move where they want, store their money where and how they want and buy-up what they want.....will always have FOM. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted December 18, 2018 Share Posted December 18, 2018 Ah yes, flogging our finite resource of land to foreign interests. Now That's What I Call Taking Back Control 2018 Perhaps he can grab a newspaper and a football team while he's at it. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted December 18, 2018 Share Posted December 18, 2018 FOREIGN BUYERS OF ISRAELI PROPERTIES: ARE THE GOOD TIMES OVER? https://www.jpost.com/Israel-News/Foreign-buyers-of-Israeli-properties-Are-the-good-times-over-549505 Israeli govt cracking down on the tiny 5% of foreign property owners. Quote Link to comment Share on other sites More sharing options...
Nabby81 Posted December 18, 2018 Share Posted December 18, 2018 3 hours ago, Ah-so said: So apparently he is now Britain's biggest landlord. He is gambling on the apartments going up in value once Brexit is sorted ..seems to me they where overpriced in the first place and the builders have gotten a lucky escape . Quote Link to comment Share on other sites More sharing options...
hotblack42 Posted December 18, 2018 Share Posted December 18, 2018 2 hours ago, PeanutButter said: FOREIGN BUYERS OF ISRAELI PROPERTIES: ARE THE GOOD TIMES OVER? https://www.jpost.com/Israel-News/Foreign-buyers-of-Israeli-properties-Are-the-good-times-over-549505 Israeli govt cracking down on the tiny 5% of foreign property owners. When you see things like this is does make you wonder why the British Establishment are so contemptuous of the electorate and keen instead to line the pockets of the global wealthy at the expense of their fellow Brits.. Quote Link to comment Share on other sites More sharing options...
Killian Posted December 18, 2018 Share Posted December 18, 2018 1 hour ago, hotblack42 said: When you see things like this is does make you wonder why the British Establishment are so contemptuous of the electorate and keen instead to line the pockets of the global wealthy at the expense of their fellow Brits.. With a trade deficit it is hard to see how the UK can stop this. Most of our infrastructure is sold so those excess pounds have to either buy houses/land or currency devalues. Or we could stop buying useless rubbish from China and overpriced German cars but that would require people disconnecting from advertising and social media Quote Link to comment Share on other sites More sharing options...
winkie Posted December 18, 2018 Share Posted December 18, 2018 ...accommodation is one of our best most popular exports, finite land but sky's the limit. Quote Link to comment Share on other sites More sharing options...
peter_2008 Posted December 18, 2018 Share Posted December 18, 2018 OK.............what even more interesting, is that the article is saying that the consequence of a total of 15% BTL landlords (foreign or not) leaving the market, is that both rent and house price actually came down. Can I now officially call BS on the "If BTL landlords quit market in mass, rent will sky rocket" theory? Quote Link to comment Share on other sites More sharing options...
warrior88 Posted December 19, 2018 Share Posted December 19, 2018 On 18/12/2018 at 08:03, Ah-so said: The Times reports a sharp reduction in foreign landlords.... ? I would say f*** off to both local and foreign landlords Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted December 19, 2018 Share Posted December 19, 2018 35 minutes ago, warrior88 said: I would say f*** off to both local and foreign landlords Some people want to rent. It just needs to be better regulated. All landlords should be licenced at a national (not council) level. And tax evasion is huge in the sector. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted December 19, 2018 Share Posted December 19, 2018 21 minutes ago, PeanutButter said: Some people want to rent. It just needs to be better regulated. All landlords should be licenced at a national (not council) level. And tax evasion is huge in the sector. Not only better regulated, there also has to be a level playing field (thanks to S24 this is happening now). Quote Link to comment Share on other sites More sharing options...
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