Tatiana Khoreva, Deputy Head of the Representative office of RD Group international holding, commented on residential property in the UK for the Dom supplement to the Kommersant newspaper.
An article headed Conservative London raises the subject of metropolitan British residential property, its attractiveness for investors and impact of the recent elections on the market. Experts also spoke on possible changes in taxation and property inheritance in the UK.
Tatiana Khoreva on the residential property market in the UK: “Such purchases [of property] are considered as an opportunity for stable money saving and investment portfolio diversification. The rest 20% are purchased to be lived in or to be reconstructed for further resale. It is worth noting, that from the viewpoint of private investors, keeping money on deposits in the country is not so profitable due to low rates of interest (2-3%).”
Furthermore, according to Tatiana, the situation is aggravated by the fact that the British are required to pay the tax on savings income. That is why the British, like the Russians, prefer investing money to the property and renting it out.
You can read the full text of the article here.