UK tax hikes affecting expat property owners: is it too late to act?
Two tax changes affecting British property owners who live abroad will come into effect next month. The first will increase the land tax paid by expats acquiring a second UK residential property. The other is a hike in "landlord mansion tax" affecting expats who own UK properties through companies. Tax expert Laurence Lancaster explains what is happening and what measures you can take:
The Government will increase the stamp duty land tax (SDLT) that expats must pay when they buy a second UK residential property by three per cent from April 1 2016.
Source: Telegraph Website
Refugees Could Boost Property Market
Many Germans fear the demand for affordable housing will spike because of the country’s refugee crisis. But those concerns are just one side of the supply-and-demand coin. As to the supply side, many real estate experts aren’t fretting nearly as much.
The flood of asylum seekers into Germany – and Europe as a whole – is rated by more than a third of investors in real estate financing as “positive” or “generally positive,” according to a survey by consultants at Ernst & Young. Only 22 percent of realty investors expect a negative impact, the survey revealed.
Source: Global.handelsblatt Website
Dubai slips in prime property rankings
After being in the top echelons between 2012-14, Dubai slipped in the global city rankings for prime residential space in a new survey. The real estate consultancy places Dubai at the 96th spot in its Prime International Residential Index for 2015, after a 5.5 per cent decline over 2014. Abu Dhabi was ranked 75th, with values down by 2 per cent year-on-year. Riyadh was in 64th spot, though values remained unchanged.
“The value of the world’s leading prime residential property markets rose on average by 1.8 per cent in 2015,” according to Knight Frank. “This was similar to the 2 per cent growth seen a year earlier.
Source: Gulfnews Website
Investors Ready To Move Away From Residential Real Estate?
While its residential real estate market may have been the darling of property investors in recent years, the head of one real estate agency believes another section of Sydney’s property market is set to shine.
Malcolm Gunning, principal of Gunning Real Estate, believes suburban commercial and retail properties in are soon to become the target of choice for investors in Sydney.
Source: Yourinvestmentpropertymag Website
Electrical fire at residential property in Dulverton
TWO fire engines were sent to a residential property in Fishers Mead, Dulverton this morning to reports of the smell of smoke.
One fire engine from Dulverton was originally sent to the incident at 4.27am, when they arrived, they confirmed the smell of smoke and asked for a second appliance from Tiverton.
Crews found the fire was involved a fuse box so Western Power were requested to attend.