cranes

Housing White Paper: A Snapshot

On Tuesday the Department for Communities and Local Government unveiled its housing white paper on “Fixing our broken housing market”. Prime Minister Theresa May writes in her foreword that “our broken housing market is one of the greatest barriers to progress in Britain today”, and the 106-page document outlines Government plans to correct this. The paper […]

George-Osborne-budget-box-006

Capital Gains Tax for UK Non-Residents

George Osborne, Chancellor of The Exchequer, announced today in his Autumn Statement that Capital Gains Tax (CGT)  would apply to the sale of property owned by non-residents from April 2015. The Chancellor said, “Britain welcomes investment from overseas but it’s not right that those who live here have to pay CGT, but those who are non-residents […]

Westminster City Council Standing Up to Protect Office Space

Westminster has witnessed a flurry of office to residential development as strong demand for residences in the borough and high end user capital values have provided significant arbitrage opportunities to developers. The local authority, which governs the area from Knightsbridge to The Strand and from the River Thames upto Kilburn, encompassies super prime residential locations […]

Considering an SDLT Avoidance Scheme?

The Estates Gazette recently published an article by solicitor Tom Hubbard of Hill Dickinson on some issues associated with Stamp Duty Land Tax (SDLT) avoidance schemes. We have outlined some of the main points from the article below.  What is SDLT? SDLT was introduced from December 1st 2003, designed to replace stamp duty for most […]

Increase In Capital Gains Tax Not As Serious As We Thought?

The announcement of new coalition government’s plans to increase CGT to 40% from 18% came as a shock to the property industry. However, Chris Cobbold, head of the housing practice at DTZ, said that companies will be able to tackle the impact of the government’s plan to double capital gains tax so the effect will […]

Plans For Stamp Duty Cut Aim To Boost Returns For Private Rented Sector

According to the Property Industry Alliance a potential cut of the stamp duty land tax could increase returns from residential funds by as much as 150 basis points over the next three years. Moreover, the PIA, which also includes organizations such as the RICS and the British Property Federation, believes that currently, the SDLT rules […]

Savills Sees a 24% Fall Of Pre Tax Profits

The current turbulent conditions that exist in the global commercial property markets have taken a toll on Savills’s shares, with a 24% fall in full-year pretax profit to £25.2m from £33.2m a year earlier. According to Savills’ publication of results for the year to end December 2009, shares declined 1.85% or 6.80p to 361.30p The group’s […]

Dubai developers take steps to curb selling on the secondary property market

According to Property Wire, developers in Dubai are taking a warning about rampant speculative activity across the Emirates’ property market so seriously that there are moves to discourage and even prevent selling on the secondary market. Several analysts have warned that high speed speculation in the market will ultimately lead to boom and bust as […]

Buyers of Property for Sale in Dubai are 'Eligible for Visas'

According to Real Estate TV, people who buy freehold property for sale are automatically eligible for a residence visa, according to a top immigration official. Omar Mattar Bin Mizaina, head of employment permits at the DubaiNaturalisation and Residency Department, spoke out in order to end confusion among buyers about the issue, reports the Gulf Times. […]

Dubai: Investment prospects for 2008

Dubai has had its detractors for some time now and there are people who seem to be keen to see the property boom of the last few years come crashing to a halt. Commentators are split as to whether this growth can be sustained but investment in the real estate sector is predicted to provide […]