Tuesday, December 10, 2013

As others see the UK

London’s Lure to Foreign Property Buyers Seen Dimmed by Tax

"London’s status as a magnet for foreign property investment was burnished in the years after the financial crisis by an investor-friendly tax regime and the falling value of the pound. That may be changing". "Investors from the Middle East to Asia have been splurging on London homes, buying everything from multi million-pound mansions to apartments in Battersea and the City of London. That’s driving prices beyond the reach of many British buyers and sparking a development surge that’s increasingly dependent on non-U.K. investors buying homes before they’re completed". "The tax may also result in falling land values on the fringes of London’s prime areas as developers wait to see the tax’s effect". Oh NO!...quick, sell now!

Posted by alan @ 10:03 AM (3498 views)
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