Published: Fri, October 27, 2017
Business | By Max Garcia

Real Estate For Real People

Real Estate For Real People

The property market in Britain has always been an attractive proposition for foreign investors for a number of years. A lot of estate agents, especially those based in the capital, often report that the majority of their property sales are being bought by foreign investors. This still applies, even after the financial crash that hit the property market in Britain just under 10 years ago. Since then property prices have begun to rise again, with more and more transaction being completed.

The majority of foreign property buyers look to buy new builds. This can be houses, flats or apartments. This is down to a whole number of reasons which include the property being as modern as you can get, with repairs likely to be at a minimum. They’ll also be more energy efficient meaning that they’ll be a lot cheaper when it comes to these sorts of costs over the course of a year, compared to older counterparts.

It’s important thought that foreign investors speak to London immigration lawyers in order to make sure they have all of the key tax and financial bases covered prior to investing in the property market in the UK. The right method of financing must be sought, tax structures must be investigated to ensure minimal amounts of income tax, VAT, inheritance tax etc. are to be paid and ensuring non-resident status with HMRC is established. These are just a few things that are important for foreign investors to acquire an expert’s help with when looking to buy property in the United Kingdom.

It’s also vital that foreign investors have the right solicitor’s on board too as they will be required to handle a range of tasks. From drawing up contracts to notifying the Land Registry that property has been bought, solicitors will also help foreign investors save money too as unexpected costs that can arise and catch people out, won’t under the watchful eyes of an experienced property solicitor.

Popular areas such as London and Manchester have become fierce when it comes to the competition between property buyers. Even though there is a lot of pressure due to the amount of competition it’s important to remain calm and put in the leg work before looking to buy, especially for foreign investors. This is because there a lot of costs when it comes to owning property in Britain and the market does tend to fluctuate and it has crashed in the past.

The real estate market is really booming once again in Britain, especially after disaster hit in 2008. With prices rising and plenty of new developments well underway, it’s become a hotbed for people abroad looking to make investments that will hopefully bring them a great financial return. It’s important however to always ensure that all the bases are covered prior to committing through the help of experts so that the right investment is made and in the right way, with the right legal and financial structures in place.

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