Foreign property investors will not suffer from the impact of Capital Gains Tax introduced in the Chancellor’s Autumn Statement, due to kick in April 2015.

According to analysis from Currencies Direct, overseas buyers will massively benefit from currency exchange rates when selling an asset like housing. Apparently, most property owners come from the Far East, Russia and the MiddleEast and are more likely to profit from foreign exchange gains when selling property.

With the London property market set to boom in the long term, putting money into housing can seem the best option for those with a lot of capital – and the new CGT levy is unlikely to deter them.

Read on for more information:

International Business Times

 

 

About the author

Nicolas Holmes

Nick joined Robert Holmes to inject fresh ideas and help grow the New Homes department of Robert Holmes as well as helping to inject technology into the business and to grow its client base. Together with one of the Directors Nick is in charge of all Development opportunities that Robert Holmes deals with along with sales. Aged 40, he provides succession together with the two existing directors. Nick has always been focused on building client relationships and sales. He built up his own gallery in Chelsea, where he had a loyal following of customers and artists.

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