HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Rishi Sunak is preparing to extend the stamp duty holiday by three months until the end of June in an attempt to keep the property market firing as Britain emerges from lockdown.
Hong Kong residents are buying more houses and apartments to lease out for income in Britain, and have became the fifth largest foreign investors in central London as of last August, driving up prices in some popular districts outside the UK capital.
Unveiling its policy plans as the Conservative Party conference began yesterday, the government said it would begin consultations on Sunday to increase the stamp duty on individuals and companies not paying tax in the UK.
The UK Home Secretary has asked that the UK should grant BN(O) passport holders and their family dependents in Hong Kong the right to enter and reside in the UK, with a pathway to settlement after 5 years and the right to apply for citizenship.
Demand for income-producing residential assets in the UK has risen sharply over the past few years on the back of a burgeoning private rental sector and a desire among investors to diversify into new asset classes offering stable income streams.