HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Hong Kong's British National (Overseas) passport holders and their immediate dependants will have the right to apply for a new special UK visa from January 31, 2021. A five-year visa will cost £250 per person.
According to a recent report, around 5 million UK households, or 21% of the total, are in private rented accommodation. This is set to rise to 5.79 million (or 24%) over the next five years.
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.
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 average rent has now risen above £800 per month across England and Wales.
New research saw average rental figures in July hit £804, up from £789 in the previous month - an increase of 1.9%. This is the fastest month-on-month rise since records began in 2009.