Tuesday, December 10, 2013
As others see the UK
"LondonÃ¢Â€Â™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. ThatÃ¢Â€Â™s driving prices beyond the reach of many British buyers and sparking a development surge thatÃ¢Â€Â™s increasingly dependent on non-U.K. investors buying homes before theyÃ¢Â€Â™re completed". "The tax may also result in falling land values on the fringes of LondonÃ¢Â€Â™s prime areas as developers wait to see the taxÃ¢Â€Â™s effect". Oh NO!...quick, sell now!