HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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The number of applications from China and Hong Kong rose from more than 17,000 last year to 21,000 this year. Student tenants are increasingly an important group for the property market.
The Competition and Markets Authority has confirmed that domestic consumers have been overcharged for electricity usage, and it brings a huge criticism of the ‘big six’ suppliers who have been controlling the market over many years. To further solve this problem and the failing market, Nottingham City Council and Bristol City Council took a step forward and established fully licensed ESCOs (Energy Services Companies), which can control the energy supply and help to boost the economy.
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.
Victor Li Tzar-kuoi has bought a grade-A office tower in London for £1 billion (US$1.3 billion) as he embarks on an acquisition spree for overseas assets after taking control of Hong Kong conglomerate CK Group from his billionaire father Li Ka-shing.
The unstable pound has contrived to aid the property market after Brexit, as overseas investors have made an ever-increasing number of overtures and investments in British property.