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Home»Society»London elite real estate market may collapse due to new taxes

London elite real estate market may collapse due to new taxes

January 14, 2019

The British authorities intend to raise a stem collection for transactions, implying the purchase of elite real estate, the cost of which exceeds the mark of £ 2 million. If earlier this type of operation was provided for a fee of 5% of the amount, now it is increased to 7%. If the buyer of the facility is a legal entity, then it will have to pay all 15%. Realtors puzzled this innovation: the effect can be uncontrolled and the whole industry can fall in the future.

Even if all houses are used in all houses with electric power, this will not save the situation in the British real estate market.

Note that the main advantage of London Residential Real Estate has a relatively low rate of expenses for its purchase for foreign investors. However, with an increase in the coat of arms, this situation will change in the root. For buyers of real estate in the premium segment, this means that now buying real estate in Britain, they will be forced to overpay dozens, or even hundreds of thousands of pounds in excess of the initial value of the object.

In addition, transactions for legal entities are concluded quite often, so many will not be able to avoid this financial burden.

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