According to the latest statistics, the United Kingdom houses the most liquid, prestigious and expensive real estate objects in the world. Also, the country itself is distinguished by an excellent level of education, modern, dynamically developing infrastructure and totally impressive shopping and entertainment facilities, cultural sites and attractions. The country attracts foreign capital and serves as a master place for outflow of money from all the corners of the globe: from Eastern Europe and Persian Gulf to South-Eastern. The financial heaven for large international businesses and favourable climate for virtually any business development – the shortage of options on real estate market is not accidental. So, what else you should know about the UK property opportunities?
The UK finds itself in a stable economic situation and well-established work of state institutions, loyal legal and tax system for foreign investors, who can consider the following real estate opportunities:
- Favorable dynamics of economic indicators;
- The competitiveness of the state;
- Stable and established activities of the state apparatus;
- No need to pay income taxes on the sale of real estate for individuals of non-resident status;
- Loyal taxation system for investors from abroad.
- Thorough protection of the right of possession
According to the ratings of The Heritage Foundation and Wall Street Journal and The 2011 Index of Economic Freedom, the United Kingdom became one of 10 countries with economic freedom, boasting the following aspects:
- It implements the principle of freedom and protection of trade, investment deposits, the business environment on all the levels;
- Low levels of corruption;
- Implemented protection and the protection of property of a person;
- There are effective state institutions;
- Well-established loyal legislation attitude to lessors of real estate;
- Well-balanced labor laws.
- High investment potential and minimum risks
Given the mentioned above fact, the unprecedentedly high costs of real estate are not surprising, especially in London. According to the reports of conveyance solicitors and real estate agencies, the average price in prestigious locations, such as Chelsea, balances in the range of £1.2 – £1.4ml. Moreover, it is projected that the rise in prices will have a long term effect, at least in the next 5 years in the event of the absence of regulations. The trend is due to a chronic shortage of supply, the insufficient number of construction options. Government statistics indicate that for each year the shortage is growing by 100,000 thousand units so meeting the demand is the mission impossible, and the state of affairs naturally provokes a significant increase in rental price.
Nowadays, liquid real estate assets can be acquired throughout virtually the entire country, so investment in real estate acquisition is associated with minimal risk in general. The objects of residential properties are high-quality assets that guarantee the diversification of investments, as price fluctuations in the housing does not involve price fluctuations of shares, commercial real estate, or bonds of the state.