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HMRC Tax To Deter Foreign Investment In UK

HMRC Tax To Deter Foreign Investment In UK

Estate Agents Warn That New
HMRC Tax Announcement

Will Put Off Willing Overseas Property Buyers

 

The announcement made by HMRC about altering the Government position on taxation of using foreign capital as collateral for borrowings could have a significant impact on the residential market in UK cities, especially London, according one estate agent.

Cluttons’ Head of Residential Development, Julian Briant, reckons that the new rules over the use of foreign capital in order to be able to obtain a loan in the UK will now result in a taxable remittance, making mortgages less attractive for investors hoping to use money held abroad as security.

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As previously reported on “Spotlight”, the UK rental market has already seen an increase in the number of foreign investors looking to get involved in the buy-to-let sector. Read the article here

Successful Property Investor warns UK rental market is target for foreign investors

Successful Property Investor warns UK rental market is target for foreign investors

This phenomenon was recently commented on by successful property investor, mentor and professional speaker Dr Rohan Weerasinghe who regularly speaks at UK Property Networking Events. He explained that overseas property investors are keen to secure properties that can produce “a positive monthly cash flow”, and the UK certainly has a healthy rental market.

Dr Weerasighe claimed that the overseas investor focus is “less on capital growth” as investors are aware that the UK has not yet moved on from the effects of the recession. As a result most investors are more interested in acquiring an income from renting properties, as a way of providing “long-term security”.

Many investors are keen to purchase run-down properties with a view to renovating them and selling them back to the market to create cash profit which can then be used to buy further rental investments. This pattern is particularly popular with Italian and German property investors and can be a very lucrative method of producing a positive monthly cash flow.

With the general upturn in mood and less gloomy economic prospects than the majority of developed nations, there is a great deal of speculation that the UK property market is set for boom times again, and our neighbouring counterparts are viewing the UK property market with keen interest.

How Scandinavian’s View The English Property Market 2013-2020

The UK property market is divided into London and everything else. London is markedly international and attracts investment and people from all over the world, partly because of it’s non-restrictive taxation policy towards domesticated foreigners which has made London the billionaire capital of the world.

As a result London suffered only a minor setback during the global financial crisis and several property types, like high end residences, are reaching record high prices in today’s market.

At the same time Manchester, Birmingham and many more old west coast industrial cities are reinventing themselves after being hit considerably harder by the crisis and the economic stagnation.

These cities are going through a phase of massive development, often including a total inner city infrastructural makeover and inclusion of old industrial waterfront areas into the living city centre, just as in Manchester (Salford Quays) and London (Olympic park).

At the same time the level of education is relatively low in the UK and the local city economies are often too weak to create new growth and development on their own without help from external capital and an influx of citizens from rural England.

London, Birmingham and Manchester are the future winners in the UK and plans are in place to kick start the development of other cities and the UK property market.

The development of many city centres in the UK over the next decade may finally manage to let go of the old industrial economic foundation and open up the cities for modern knowledge workers and businesses. 

If UK property investors don’t want to miss out on making property profits from the high demand for rental property, they need to take action immediately!

Do you want foreign investors stealing all the best property deals? The time for action is now!

 

There has NEVER been a better time to invest in property!

 

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2 Million Foreign Investors Own UK Properties

2 Million Foreign Investors Own UK Properties

Foreign Property Investors Think UK Property Is A Safe Investment

According to the accountancy group – UHY Hacker Young, the number of foreign property investors owning UK property has now exceeded 2 million.

The accountancy group analysed HMRC data and discovered that the number of overseas property investors owning and renting out property in the UK private rented sector increased by 6% in the past 12 months to 2.04 Million, up from 1.93 Million in 2012.

In the past five years the number of foreign property investors owning UK PRS property has risen by 39%.

However, the accountancy group says that the consistent growth in the number of foreign investors targeting UK property may come to a halt following the Government’s recently announced plans to charge Capital Gains Tax (CGT) on the sale of properties owned by foreign investors from April 2015. A move which could discourage foreign buyers from investing in UK property when the deadline comes in to force.

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The Turkish government have passed a draft bill allowing more foreign investment in the country’s real estate, increasing the temperature of the country’s property market, meaning Turkey property is ready to roast!

Turkish property has long been a popular choice for lifestyle property buyers in the UK and Europe, but has only so far been available to countries that allowed Turkish buyers to invest there in return.

This restriction, which primarily affected investors from the UAE and other countries, left buyers needing to register a Turkish company first, adding red tape and extra costs to their investment.

But property purchasing agents are now saying that is about to change, thanks to the country’s acceptance of this new law, which is expected to bring a gold rush of buyers back to Turkish real estate.

Fresh investment is expected from the Middle East and countries within the EU, as the government bill also increases the amount of real estate a foreigner is permitted to own, from 25,000 square metres to 300,000 square metres.

The Turkish government have also reported that tourism revenue is continuing to heating up due to the fact that Europe is still plagued by a financial crisis. Turkish Tourism Minister Ertugrul Gunay predicted that 31 Million visitor arrivals in 2012 would remain stable, but profits from overseas visitors would be expected to rise from $23 Billion (USD) to $25 Billion (USD).

As income increases from both holidaymakers and foreign property investors, Turkey’s property market appears ready to roast and the $2.5 Billion (USD) currently invested by foreigners in Turkish real estate each year is expected to double to $5 Billion (USD).

The predicted rush of foreign investment will see the Turkish property market become even stronger as the country opens its doors to more and more investors from different countries.

Many people are already looking at this already popular holiday hotspot to purchase a second home, pushing real estate prices up over the next few years, making the holiday destination an even better place to invest and Turkey property a mouth-watering prospect.

The UK property market looks set to be boosted by overseas investments as the Singapore government announce their intention to target London with a £200 Million (GBP) fund.

The small investment fund of the Government of Singapore Investment Corporation (GIC) represents further investment in a UK property market that has become increasingly popular with foreign buyers.

Sovereign wealth funds and other investors from Asia accounted for 30% of all commercial property deals in the UK capital in 2011 and GIC already owns a stake in Kent’s Bluewater Shopping Centre.

The Singapore group will now work with London-based investment manager Orchard Street Investment Management, whose chairman, Chris Bartram, said it will look to spend between £15 – 50 Million (GBP) on 15 commercial properties targeting office, retail and industrial sectors.

Survey Shows UK Public Think Property Investment Is Best Way Forward

Survey Shows UK Public Think Property Investment Is Best Way Forward

Survey Shows UK Public Think
Property Investment Provides Best Returns

A new survey has discovered that 40% of UK residents would rather choose property investment over all other investment types.

The YouGov survey commissioned by InterTrader found that 40% of UK residents reckon that property investment is the best vehicle for generating a good Return On Investment (ROI).

In addition, over half of UK residents would consider a more active role in managing their own investment opportunities, with 38% of respondents saying they would not trust financial professionals to generate high enough positive returns with their hard earned savings.

The findings of the YouGov survey were published amid the concern that parts of the UK, especially London and the South East, are experiencing a localised and unsustainable property bubble.

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Capital Gains Tax For International Property InvestorsUK To Tax International Property Investors

The Chancellor, George Osborne’s has taken a step towards levelling the playing field for UK property investors after deciding to introduce Capital Gains Tax (CGT) for international property investors, a move that has attracted a mixed response from property professionals.

While UK property investors have broadly welcomed the new tax for international property investors, some industry professionals have slammed the Chancellors decision to introduce it, with some pundits speculating that it could drive foreign investors away, increase housing supply and push property prices down.

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Overseas Property Investors Targeting UK Property Bargains

Overseas Property Investors Targeting UK Property Bargains

Overseas Property Investors Know A Bargain When They See  One!

There has been a great deal of debate about the impact of overseas property investors and foreign nationals purchasing property within the city of London, driving up property prices and giving the UK housing market a boost.

Foreign property investors purchased up 75% of new residential property developments within the central London area during the last 12 months, although many developers argue that many of these residential properties would not have been built without the up-front cash from overseas property investors.

According to data from Knight Frank, foreign property investors also purchased 49% of all properties valued over £1 Million (GBP) in central London during the same timeframe, and new residential properties accounted for just 20% of these property transactions.

The 10 most expensive post codes in central London are SW1, SW3, SW5, SW7, SW10, W1, W8, W11, WC2 and NW1 had 3,477 residential properties for sale.
70% of these properties were valued over £1 Million (GBP)

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Weak Economy Gives 

International Property Investors Green Light

Weak Economy Gives International Property Investors Green LightThe surge in Central London property values has failed to deter overseas property buyers who are still actively purchasing available residential accommodation.

Ironically it is the weakness of Sterling (GBP) that has made residential property in the UK capital attractive to international property investors, helping to fuel strong demand for residential property in London from foreign investors, according to one residential estate agent.

As we previously reported in February international property investors are already targeting high rental yields from rental properties in the UK (read full story here)

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