Foreign buyers play a critical role in the financing of the construction industry London

On the real estate market of London faced a dilemma: whether to artificially limit the excessive interest of foreign buyers of real estate? Leading construction company in connection with this even announced a voluntary commitment to provide buyers from the UK, the maximum possible, so they could afford to buy a new home in the capital. In addition, the recently announced tax on capital gains for non-residents is intended to somewhat reduce the ardor of foreign investors.

However, the Federation of Builders UK recalled that the flow of foreign investment in the construction sector in London plays a very important role in the financing of new projects and eventually contribute to the development and construction of new buildings for affordable housing, so essential in London, so you should not criticize the influence of foreign capital on the real estate market of London.

According to a survey conducted among the 8 largest construction companies in the UK, which cover 44% of the residential real estate market in London, revealed that with the use of the proceeds from the investments of foreign investors in the residential property market of London will be built about 14 thousand units of affordable housing in London worth more than £2 billion pounds. With purchases of foreign buyers paid around £129 million in Stamp duty (Stamp duty), were about 39,000 transactions and created 16,000 jobs.

About 85 % of residential properties purchased by foreigners, are busy living in their tenants, in opposition to arguments that a large portion of purchases by foreign investors, empty. In case, if the foreign buyer does not live in your house or flat in London, he rents it out, which helps to solve the housing problem in London.

In the context of an acute housing crisis, which is now experiencing London, foreign buyers play an important role in increasing the number of homes built in London, so the UK government will do everything possible to further the Kingdom remained attractive and the most desirable country for foreign investment.

® Alice Morgan 26.12.2013 g.