UK PROPERTY INVESTMENT SPECIALISTS

Market News & Reports

PROPOSED: FOREIGN BUYERS TO PAY EXTRA STAMP DUTY !?

2018-10-03

 

Theresa May arrives at the annual Conservative party conference in Birmingham. Photograph: Christopher Furlong/Getty Images

 

 

(Please contact us should you require an English version of this article)

 

 

英國首相文翠珊(Theresa May)將於本週日的政黨大會上, 提出向外國人士徵收額外物業印花稅的諮詢, 引起海外投資者關注。

 

值得注意以下數點:

 

1. 首先必須強調, 目前該議案尚未正式提出並獲得通過, 於是否執行、何時執行、如何執行, 及政策力度, 尚未有定案。

 

2. 消息指, 若獲得通過, 海外買家額外印花稅將為樓價的1-3%

 

3. 根據過往經驗, 不排除新政策會於政黨大會後即時實施(例如2015年11月宣佈加印花稅), 以防止物業市場的投機炒賣。

 

4. 投資銀行Liberum Capital分析師Charlie Campbell表示, 實際受打擊的將不會是該些海外買家, 而是發展商。因為根據過往經驗, 當買家面對加稅導致買樓成本上升, 發展商須以相對保守的開售價吸引買家。最終對買家的影響, 是加稅與減價互相抵消, 實際承受新稅的是發展商 - 不單利潤降低, 更因而打擊他們與其他土地買家(如工商廈發展商)對地皮的競爭力。 

 

Charlie Campbell, analyst at Liberum, said the new charge, details of which have yet to be announced, would cut into prices housebuilders can charge and thus into their ability to compete for new sites.
 

“In the past, extra stamp duty has eventually been matched by a fall in price, so in effect the tax is borne by the seller,” he said. “Every new tax on housebuilders makes it harder for London builders to compete against other land buyers, like commercial property developers.”

 

(Source: Financial Times 【London developers hit by new stamp duty tax on overseas buyers】by Judith Evans, 2nd Oct 2018)

 

5. 消息傳出後, 住宅發展商股價普遍受挫

 

6. 中、北部城市如Manchester, Birmingham等樓市將越趨強勢, 因為印花稅是採累進稅制, 樓價越低, 受加稅的影響便越輕微。英國中北部城市的樓價, 比起南部, 低以倍計。

 

7. 是次動議, 無論結果如何, 始終旨在謀求一個長遠地、健康平穩地發展的樓市

 

議案會否獲得通過, 本週日將會揭盅, 敬請留意我們公告。

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