HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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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.
Millions of leaseholders will be given a new right to extend their lease by 990 years. Changes could save households from thousands to tens of thousands of pounds. Elderly also protected by reducing ground rents to zero for all new retirement properties.
Rising demand and a lack of new homes coming to the market for sale will keep an upward pressure on house prices in the near term, especially in the more affordable parts of the UK. Liverpool city has annual growth running at a 15-year high.
Leeds has been ranked as the fifth best performing city in the UK for attracting foreign direct investment (FDI), according to a survey from EY.
STAMP DUTY HOLIDAY FOR PROPERTIES COSTING UP TO £500,000 AND COMPLETED BEFORE APRIL, 2021 IN ENGLAND
The government has temporarily increased the stamp duty threshold to £500,000 for property sales in England and Northern Ireland. First-time buyers will not be taxed if the property is costing £500,000 or less and the legal transaction is being completed before April 2021, more expensive properties will only be taxed on their value above that amount.