Government must boost the build-to-rent sector by
exempting investors from a stamp-duty hike targeted at landlords and relaxing
planning rules. That is the view of the British Property Federation (BPF), a trade
association, in its submission to the Treasury ahead of Chancellor Philip
Hammond's autumn statement. As of April 2016, purchases of additional
properties are subject to a 3% levy on top of the basic stamp-duty rates, to
cool buy-to-let demand and reduce competition in the market for first-time
buyers. But the BPF said this "sent out a negative message to almost £50bn
of investment capital that is interested in build-to-rent opportunities in the
UK. There is a strong argument that exempting investors that contribute towards
the delivery of new homes would have a positive impact on that delivery,"
said the BPF's submission. Read more on the IBT website.
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