28 Property For Sale in United Kingdom

Considerations of buying UK property

The UK property market holds a lot of potential for foreign investors. As one of the world's leading economies, it is home to world-renowned universities and attracts top talents to its industries. The current supply for housing cannot keep up with the growing demand for property, which has been pushing up prices. As a result, many potential first-time buyers have chosen to rent for the foreseeable future. Foreign investors can benefit from the UK's strong tenant demand, attractive rental yields and growing property values.

Other than this, the upcoming High Speed 2 (HS2) railway project will also add to the lucrative value of the UK property market. Scheduled to be completed in 2026, this project plans to link London, the East Midlands, Leeds, Manchester and Birmingham. Not only will the HS2 drastically cut down the travel times between UK's major cities, it will also boost business opportunities and property values in all linked cities, including smaller stops. Foreign investors should not hesitate to take advantage of the guaranteed growth of UK properties.

The events of Brexit might have some foreign investors concerned, but the resulting depreciation of the pound actually creates a significant incentive to invest in UK property now. Following UK's decision to exit the EU, enquiries from foreign buyers all over the world, including Asia, increased by 10% in just six months. In addition, foreign investors interested in UK property should be aware of the various forms of taxes involved:

• Rental income tax (you may be exempt if you can benefit from UK's double taxation treaty)
• Council tax (paid when your property is left empty)
• Capital Gains Tax (will only affect owners who were previous or future residents of the UK)
• Stamp Duty Land Tax, a transfer tax on the gross value of the purchased property