7 Jan

Foreign landlords investing in UK surpasses 2 mil mark

Foreign landlords investing in UK surpasses 2 mil mark

New research has revealed that the number of foreign landlords investing in the UK property market has risen by six per cent in the last year.

Foreign buy to let buyers now number at more than 2 million, according to figures from chartered accountants UHY Hacker Young.

What’s more, in the last five years the number of foreign landlords has increased by 39 per cent.

This increase of foreign investors could be due to the fact that Britain's property market has shown steady signs of growth recently, with the last 12 months being particularly positive.

However, the firm's report suggests that this growth may begin to slow over the next few years, after the government recently announced plans to alter Capital Gains Tax on the sale of properties owned by foreign investors from April 2015.

Mark Giddens, head of Private Client Services at the firm said: “‘The UK economy is one of the world’s most liquid, and UK property is seen globally as a safe haven from the effects of a financial crash or from national governments’ interference in the assets of private individuals. That has driven fierce demand for prime property in London and the South East in particular.”ADNFCR-1222-ID-801679508-ADNFCR

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