Joe Antoniazzi, Sales & Marketing Director at Barratt West London, explains howthe trend of regeneration is positively impacting London’s neighborhoods.
While buying property for investment in Singapore has become prohibitively expensive, London is reinforcing its position as a strong market contender for those who want to protect their capital while enjoying reliable, and rising, rental incomes.
Whether buying as a place to live, accommodation for family members working or studying in the UK, or as an investment, London is the place for South East Asian buyers to be looking at in 2023 and beyond. Around 40% of Singaporean buyers are looking for a foreign home that they or their family intend to live in are sought after Joe Antoniazzi, Sales & Marketing Director at Barratt West London, explains how the trend of regeneration is positively impacting London’s neighborhoods.
In comparison with Singapore, where foreign buyers now face 60% Stamp Duty on any property purchase, and even citizens building a letting portfolio are liable up to 30% Stamp Duty on their third and subsequent residential property, the taxation regime in London is far more favorable towards residential property buyers, with non-UK residents paying just 2% more than those who live permanently in the UK.