buy-to-leave

[Paddy]

It's a popular view in China, i'm led to believe. A house which is 'brand new' is more desirable than a second hand one. It would be like buying a car as an investment and then using it as a runaround.

Dumb fvcks haven't realised you can let it out AND have it appreciate in value in the UK property market.

They have the same in Austria, older properties depreciate because they are old. (I know having bought there). The problem in the UK is that money that could be used for renovation goes on the very high empty property council tax, typically taxed at 110%

[barrydidit]

older properties depreciate because they are old.

We get round that here by building progressively smaller houses of lower quality.

[MrMarkyMark]

They have the same in Austria, older properties depreciate because they are old. (I know having bought there).

Conversely, the actual condition of the property here does not matter a jot.

Especially if you can knock it down and build a block of flats in its place

[SueEllen]

It's a popular view in China, i'm led to believe. A house which is 'brand new' is more desirable than a second hand one. It would be like buying a car as an investment and then using it as a runaround.

Dumb fvcks haven't realised you can let it out AND have it appreciate in value in the UK property market.

It's actually right.

I use to work with someone of a Chinese background not born in the UK. (Think she was educated in Singapore but her parents were from mainland China.) She was shocked when I explained to her a flat in a new block of flats were worth less than a flat in an older block in the same location.

[NotAllThere]

Why is it optional for big firms with 15+ houses? Same reason - BTL needs to be stopped to herd middle class money into pension Ponzi scheme - removal of tax reliefs coming there, so all viable alternatives should be made nonviable.

I get round this problem by not being middle class.

[SueEllen]

How will Osborne get 3% BTL (second home) stamp duty from foreign investors??? I guess it will be optional for them...

So now somebody will need to sell their house first, live in a hotel or rented place before buying new house to avoid paying 3% ffs

It's called a chain.

Everyone exchanges on the same day.

And yes loads of things go wrong.

[d000hg]

Why is it optional for big firms with 15+ houses? Same reason - BTL needs to be stopped to herd middle class money into pension Ponzi scheme - removal of tax reliefs coming there, so all viable alternatives should be made nonviable.

I see, it's wild speculation?

And the stamp duty surcharge is not OPTIONAL to big firms. It doesn't apply.

Charging extra to foreign investors is actually one easy way to make a bit of extra money.

[AtW]

And the stamp duty surcharge is not OPTIONAL to big firms. It doesn't apply.

That's one way to look at it. Same can be said about corp tax - it not optional to big firms, it simply doesn't apply...

[AtW]

I get round this problem by not being middle class.

How your butler feels about it?

[d000hg]

That's one way to look at it. Same can be said about corp tax - it not optional to big firms, it simply doesn't apply...

No, that's totally different. Companies are not avoiding or evading stamp duty. It doesn't apply to them, they are never given the chance to get out of paying it,