{"id":6079,"date":"2017-09-04T03:46:50","date_gmt":"2017-09-04T03:46:50","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/foreign-landlords-shun-uk-property-market-after-tax-hikes\/"},"modified":"2017-09-04T03:46:50","modified_gmt":"2017-09-04T03:46:50","slug":"foreign-landlords-shun-uk-property-market-after-tax-hikes","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/foreign-landlords-shun-uk-property-market-after-tax-hikes\/","title":{"rendered":"Foreign landlords shun UK property market after tax hikes"},"content":{"rendered":"<p><\/p>\n<div id=\"\">\n<div id=\"attachment_404886\" class=\"wp-caption alignnone\" readability=\"35\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011.jpg?resize=1280%2C720&#038;ssl=1\" data-lazy-src=\"https:\/\/i0.wp.com\/guardian.ng\/wp-content\/plugins\/ventra-lazy-load\/images\/1x1.trans.gif?ssl=1\" data-lazy-srcset=\"https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011.jpg 1280w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-640x360.jpg 640w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-1062x598.jpg 1062w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-320x180.jpg 320w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-281x158.jpg 281w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-562x316.jpg 562w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-531x299.jpg 531w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-487x274.jpg 487w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-974x548.jpg 974w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-600x338.jpg 600w\" class=\"size-full wp-image-404886 lazyload\" alt=\"\" width=\"1280\" height=\"720\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\"\/><noscript><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-404886 lazyload\" src=\"https:\/\/i0.wp.com\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011.jpg?resize=1280%2C720&#038;ssl=1\" alt=\"\" width=\"1280\" height=\"720\" srcset=\"https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011.jpg 1280w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-640x360.jpg 640w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-1062x598.jpg 1062w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-320x180.jpg 320w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-281x158.jpg 281w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-562x316.jpg 562w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-531x299.jpg 531w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-487x274.jpg 487w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-974x548.jpg 974w,https:\/\/guardian.ng\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011-600x338.jpg 600w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\"\/><\/noscript><\/p>\n<p class=\"wp-caption-text\">Just five per cent of British homes now have overseas owners, down more than half from the 12 percent seen seven years ago, the research released by <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">real estate<\/a> firm Countrywide showed.<\/p>\n<\/div>\n<p>Overseas landlords are moving out of the U.K. property market in search of greener pastures, according to new research which suggests the number of international investors who own property in Britain has fallen to a new low.<\/p>\n<p>Just five per cent of British homes now have overseas owners, down more than half from the 12 percent seen seven years ago, the research released by real estate firm Countrywide showed.<\/p>\n<p>Of the 90,000 properties studied, the fall was most pronounced in London, where the proportion of foreign landlords fell from 26 percent in 2010 to 11 percent this year.<\/p>\n<p>The investor demographic in London has also shifted since the start of the decade. Asians now constitute the largest investor segment in the capital, while the number of European owners has dropped from 39 percent to 28 percent over the past seven years.<\/p>\n<p>According to CNBC International, the fall in sterling following Britain\u2019s Brexit vote last June could have been expected to buoy overseas buyers but increased economic and political uncertainty and a more punitive tax landscape in the U.K. is thought to have dampened sentiment.<\/p>\n<p>Last April, investors were slapped with a 3 percent stamp duty (tax levy) surcharge on the purchase of second properties. This meant that landlords purchasing a London apartment costing an average of \u00a3518,511 ($677,442), based on 2016 <a href=\"https:\/\/amazingproperty.com.ng\/blog\/rightmove-home-search-uk\/\">Rightmove<\/a> estimates, had to pay a further \u00a331,481 in tax, rather than the previous \u00a315,926.<\/p>\n<p>A separate tax on companies buying property in the U.K., known as the Annual Tax on Enveloped Dwellings, pushed up costs further by between \u00a33,500 and \u00a37,000.<\/p>\n<p>\u201cA steady increase in foreign investors\u2019 tax bills combined with more recent falling expectations of price growth in London has led to a decline in foreign investment in buy-to-let,\u201d said Johnny Morris, research director at Countrywide.<\/p>\n<p>New research also released by <a href=\"https:\/\/amazingproperty.com.ng\/blog\/nigeria-property-center\/\">property search<\/a> website Rightmove suggests that house sales have picked up in the year since the Brexit vote but price increases have been limited, rising by an average of just \u00a3300 in the month from June to July.<\/p>\n<p>\u201cIt\u2019s great to see government\u2019s tax changes for buy to let landlords beginning to work,\u201d Reuben Young, policy and communications officer at PricedOut, a campaign body for affordable <a href=\"https:\/\/amazingproperty.com.ng\/blog\/sell-your-home-online-fast\/\">housing<\/a>, told CNBC via email.<\/p>\n<p>\u201cLandlords buying homes \u2013 both foreign and native \u2013 consistently outbid first-time buyers before the changes started to take effect. Now we\u2019re seeing rents beginning to stabilize.\u201d<\/p>\n<p>The U.K. government has also been rolling out a number of initiatives aimed at deterring overseas investors, who are often accused of driving up prices, and assisting first-time buyers. This includes a scheme unveiled last week in Manchester, one of the country\u2019s most expensive cities, which gives preference to buyers living and working in the city.<\/p>\n<p>However, would-be homeowners continue to face an uphill battle from British-based investors, whose numbers have continued to tick up in recent years to outpace their overseas counterparts, Countrywide found.<\/p>\n<\/div>\n<p><a hre=\"https:\/\/guardian.ng\/property\/foreign-landlords-shun-uk-property-market-after-tax-hikes\/\"> Guardian <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just five per cent of British homes now have overseas owners, down more than half from &hellip; <a title=\"Foreign landlords shun UK property market after tax hikes\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/foreign-landlords-shun-uk-property-market-after-tax-hikes\/\"><span class=\"screen-reader-text\">Foreign landlords shun UK property market after tax hikes<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6080,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,15239,523,9697,12908,543,627,127,617,207,202,489,344,289,1007,41,140,84],"class_list":["post-6079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-chase","tag-country","tag-foreign-investors","tag-home","tag-home-buying-guide","tag-homeowners","tag-homes","tag-house","tag-house-sale","tag-house-sales","tag-houses","tag-housing","tag-landlord","tag-owners","tag-property","tag-property-market","tag-real-estate"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/london-houses-property-pr-011.jpg?fit=1280%2C720&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2791,"url":"https:\/\/amazingproperty.com.ng\/blog\/invest-in-property-in-thailand\/","url_meta":{"origin":6079,"position":0},"title":"Invest in Property in Thailand","author":"Amazing Property","date":"March 31, 2022","format":false,"excerpt":"\u00a0 Invest in Property in Thailand Thailand is a beautiful place. From idyllic beaches to the infamous Full-Moon parties on Koh Phangan, Thailand has a lot to offer tourists. It\u2019s also a great place to live if you enjoy the digital nomad lifestyle. But, is Thailand a good investment opportunity\u2026","rel":"","context":"In &quot;Investment&quot;","block_context":{"text":"Investment","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/investment\/"},"img":{"alt_text":"Invest in Property in Thailand","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Invest-in-Property-in-Thailand.jpg?fit=960%2C636&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Invest-in-Property-in-Thailand.jpg?fit=960%2C636&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Invest-in-Property-in-Thailand.jpg?fit=960%2C636&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Invest-in-Property-in-Thailand.jpg?fit=960%2C636&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":4041,"url":"https:\/\/amazingproperty.com.ng\/blog\/panic-grips-nigerian-investors-as-uk-opens-foreign-property-register\/","url_meta":{"origin":6079,"position":1},"title":"Panic grips Nigerian investors as UK opens foreign property register","author":"Amazing Property","date":"May 1, 2017","format":false,"excerpt":"United Kingdom If the plan by the United Kingdom Government to open a register of foreign property owners sails through, the long wait to tame corrupt Nigerians who invest abroad using companies and other structures to buy real estate may end soon. The new register will be public and will\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/United-Kingdom.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/United-Kingdom.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/United-Kingdom.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/United-Kingdom.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/United-Kingdom.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2368,"url":"https:\/\/amazingproperty.com.ng\/blog\/3-things-real-estate-agents-should-know-about-foreign-investors\/","url_meta":{"origin":6079,"position":2},"title":"3 Things Real Estate Agents Should Know about Foreign Investors","author":"Amazing Property","date":"March 21, 2017","format":false,"excerpt":"If you're a real estate agent, it's important to be aware of the needs and wants of foreign investors. Here are three things you should know. \u00a0 Every year, buyers from countries like China, Brazil, Canada, and England spend billions of dollars (often in cash) in United States real estate.\u2026","rel":"","context":"In &quot;Realtor&quot;","block_context":{"text":"Realtor","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/realtor\/"},"img":{"alt_text":"foreign investors","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/foreign-investors.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":2379,"url":"https:\/\/amazingproperty.com.ng\/blog\/real-estate-crowdfunding-trends-for-2017\/","url_meta":{"origin":6079,"position":3},"title":"Real Estate Crowdfunding Trends for 2017","author":"Amazing Property","date":"March 22, 2017","format":false,"excerpt":"Crowdfunding, the financial activity that started as a platform for people to support inventors and special projects, is rapidly becoming a model for equity, startup and real estate investing. \u00a0 According to Massolutions, a renowned market research and advisory firm focusing on the financial industry, crowdfunding platforms across all sectors\u2026","rel":"","context":"In &quot;Property owner&quot;","block_context":{"text":"Property owner","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/property-owner\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/pexels-photo-261146.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/pexels-photo-261146.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/pexels-photo-261146.jpeg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/pexels-photo-261146.jpeg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/pexels-photo-261146.jpeg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2253,"url":"https:\/\/amazingproperty.com.ng\/blog\/can-canada-tax-its-way-out-of-high-house-prices\/","url_meta":{"origin":6079,"position":4},"title":"Can Canada Tax Its Way Out Of High House Prices?","author":"Amazing Property","date":"March 20, 2017","format":false,"excerpt":"Everyone wants to do something about high house prices in the greater Vancouver and Toronto regions, but few can agree on what that \"something\" should be.\r \r In Toronto, is it a matter of too much demand for housing, or too little supply? \r \r \"The population of the GTA\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/8d5bad8d647749ffb09f2d4f7f672518_S.jpg?fit=424%2C351&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8242,"url":"https:\/\/amazingproperty.com.ng\/blog\/developer-showcases-housing-schemes-to-nigerians-in-the-diaspora\/","url_meta":{"origin":6079,"position":5},"title":"Developer showcases housing schemes to Nigerians in the diaspora","author":"Amazing Property","date":"February 12, 2018","format":false,"excerpt":"Director of Homework Development and Properties Limited, Jide Adekola (right); Director, Homework, Chima Emerueh; member, Association of Nigerian Physicians in the Americas (ANPA), Dr. Nnamdi Maduabum and Dr. Olusola Oyemade when the firm exhibited its range of real estate products at the ANPA conference in Atlanta, Georgia, United States. One\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Architect.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Architect.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Architect.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Architect.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Architect.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Architect.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=6079"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6079\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/6080"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=6079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=6079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=6079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}