Thursday, 20 October 2016

Send The Build-To-Rent Sector 'Into Overdrive'

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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