Ying Kui Johnson put forward a plan to revitalize the economy with the slogan " Build, Build, Build ", and put 12 billion pounds in real estate construction to stimulate the market; Chancellor of the Exchequer, Rishi Sunak, immediately relayed the slogan on July 8. It was announced that all real estate properties in England and Northern Ireland with less than £500,000 are eligible for stamp duty relief, which is also known as Stamp Duty Holiday , for a period of six months.
The good news in the UK continues, coupled with the relaxation of the BNO policy, immigrating to the UK and buying British properties immediately became a hot topic in Hong Kong, and investors were eagerly eagerly involved. However, it is also about buying a property. Many Hong Kong people are quite unfamiliar with the concept of buying and selling properties in the UK. It is best to figure it out first.
The United Kingdom does not have the concept of "all the world, could it be the king's land". The land is not all owned by the state. It is not a fantasy for ordinary citizens to purchase 999 years of freehold property rights (Freehold). Buyers will be close to owning the land forever. The ownership of the building is good for decades, and there is no need to pay land rent or property management fees like Hong Kong. In addition, the land lease with term limit (Leasehold) is also very common, which is the purchase of the right to use the property. Ownership, most residents of the United Kingdom belong to the latter.
Property prices in Hong Kong can easily exceed one million, and properties worth RMB 56 million have even been advertised as a "poor man's gift" by real estate shops. The UK has a large land and the real estate market prices are relatively reasonable and affordable. UK house prices have only risen by an average of 33.7% in the past ten years . Of course, London, an international city, will have higher property prices than other cities, with an average increase of 72%. Rental demand is extremely high, but rental yields are often low. In addition, at the beginning of this year, Britain officially left the European Union. The Brexit effect caused the pound to weaken and the Hong Kong dollar to strengthen. In contrast, British properties are naturally cheaper.
Investors often ask whether they need to be in the UK to purchase a property . In the 21st century with advanced technology, buyers can buy and sell properties without having to set foot in the UK. You can find sellers on your own and negotiate transactions directly. The prices of properties in the UK are relatively consistent, and many properties offer the same price, which is slightly different from the inertia of major real estate agencies in Hong Kong. Even some senior investors will buy apartments or houses for a major renovation and transform them into commercial buildings, BnB, serviced residences, etc. There are many changes. Before investing in the UK, you may wish to learn more.
In addition, if you are not at ease, some people will choose to look for Property Sourcing Agent, who have local knowledge, understand the investment projects and renovation projects under construction or planning, and have a better understanding of the potential for house price appreciation.
Having said that, whether it is immigration or investment, the cultures of Hong Kong and the United Kingdom are bound to be different. Whether it is planning to immigrate as a family with a BNO in hand, or simply planning to allocate assets for overseas investment, finally understand it clearly and read more articles. Desperate.