Sell My House Quickly in Stirling
Sell My House Quickly found another interesting article about properties in Stirling. Fall in Sterling Brings Opportunity for Overseas Scottish Property Investors Before Additional Tax Levy.
Overseas investors in Scottish property are facing a potential window of opportunity!
And that is to take advantage of the fall in sterling – before a potential new 2% LBTT levy is brought in by the Scottish Government.
As it stands, Land and Buildings Transaction Tax (LBTT) has been reduced until April, with buyers not having to pay LBTT on properties up to the value of £250k.
That, combined with the fall in sterling could be the encouragement overseas Scottish property investors are looking for to make the leap.
However, in April, all that might change, with the temporary LBTT holiday coming to an end, and the potential of Scotland following England’s lead with the 2% tax levy being introduced for foreign investors.
This will mean overseas buyers completing on property transactions from April next year could end up paying £13,100 (6.5%) on a £200k buy-to-let property – that’s a significant increase compared to the £8,000 they’d pay today for the same property.
As one half of Scotland’s only estate agent for landlords, I wanted to explore what this might mean for foreign investors interested in buying property in Scotland, and what this window of opportunity from the fall in sterling looks like.
Competitive currency entices overseas Scottish property investors.
All of the ongoing uncertainty over a Brexit deal, and Covid-19, has meant that sterling has stayed relatively low against the dollar, making Scotland (and the UK in general) more attractive for overseas investors.
Right now, overseas investors – who have been turning their attention to Scotland after being increasingly discouraged by London’s high values and low yields – are waiting with baited breath to see whether or not Scotland follows suit with the new 2% tax levy on foreign investment.
We found this article about Sterling Brings Opportunity on Portfolio. Kindly click the link to read the full story.
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