The number of residential property in the UK, built for rent has increased, however, the demand for rental is growing steadily, and the industry is in dire need of new facilities .
Over the past year, according to the British Property Federation, the number of objects of real estate in the UK for rent, received a construction permit, increased by 200% to 67,000 units.
But, despite the fact that in some regions the number of objects has increased by 400% , the sector of rental residential property desperately lacks in the delivery of new facilities.
According to the British Federation of real Estate, potential investors have roughly £50 billion of potential cash they are willing to invest in economic sectors that are resistant to the effects of Brexit.
In order to further improve the investment climate, the issue of amendments to the rules introduced in April this year to increase rates of Stamp duty for investors 3%. According to insider information, changes in tax policy that would increase investment interest may be submitted and considered by the British Parliament in the autumn session.
According to the National Statistics Agency, if see annual figures in recent months, the pace of construction of new properties in the UK began to decline – for the last three months to August the number of new facilities decreased in total by 1.3%, but in annual terms, shipments rose slightly – by 0.2%. According to experts of the center, it is impossible to consider data for 1 month as some sort of trend.
® Maxim Savitsky. 17.10.2016 G.
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