HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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New research finds up to a third of young people in Britain will now rent for their entire lives, underlining the need for more investment in key UK city markets.
Chancellor Rishi Sunak has extended the stamp duty holiday in the Budget. Anyone buying a home worth up to £500,000 before the end of June will now not pay the tax, and could save up to £15,000, with a reduced discount available until the end of September.
Hong Kong properties are among the most expensive in the world. While a 188-square-feet parking space costs HK$5.18M (£518,000 as of 20 June 2017) here, with the same amount of money, you could buy three or four reasonable size city centre properties in the United Kingdom.
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.
Link Real Estate Investment Trust (Link REIT) announced that it will acquire a property valued at approximately 380 million pounds (equivalent to ~HKD3.7685 billion) in Canary Wharf, London, UK. The Cabot at 25 Cabot Square will be Link REIT's first acquisition of British assets.