buy-to-leave

[BrilloPad]

Another reason why house prices are unaffordable

Why are so many British homes empty? - BBC News

To most people, throwing away vast amounts of rent money while waiting for prices to go up might sound like economic madness. Not according to property expert Henry Pryor, who says investors leaving flats empty are in fact being highly calculating. The costs of letting, including wear and tear and administration, can outweigh any money taken from rent, he says.

[MrMarkyMark]

That's what a lot of the Chinese investors are doing, they "can't be bothered" with the hassle of renting them out.

[PurpleGorilla]

buy-to-leave

Chinese boomers [emoji33]

[barrydidit]

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.

[Zero Liability]

Chinese boomers

They prolonged their day of reckoning...

On the topic of Osborne, housing and incompetence...

Chancellor delivers 'Osborneomics' - 27 Nov 2015 - Accountancy Age

[d000hg]

More and more councils are removing council tax-exemption on empty properties; in fact many now charge MORE council tax on empty houses. Some charge up to 200% the normal rate.

[BrilloPad]

More and more councils are removing council tax-exemption on empty properties; in fact many now charge MORE council tax on empty houses. Some charge up to 200% the normal rate.

If only that could be introduced through London. Come on Boris!

[AtW]

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

[d000hg]

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

Why would it be optional?

[AtW]

Why would it be optional?

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.