Property Consulting

Russian Elites losing their properties to the Ukrainian refugees, says Raab

Dominic Raab, the deputy prime minister of England, has suggested that the properties of the Russian Elites could be seized and hand over to Ukrainian refugees. This was following Moscow's invasion of Ukraine. The UK’s strategy appears to be based on trying to cause the whole Russian economy pain, which is why it has focused more on banking, state institutions and companies than individuals so far. The UK government has faced criticism for being too slow in its approach to implementing sanctions against Russian figures and linked assets. ___________________ Do yo

Property Consulting

Pandemic property boom: House prices up by 20%

In the past years, the pandemic has increased the house prices by nearly £30,000 and on average in the past 2 years by 20%. The inflation rate climbed to 12.6% in February. This has created a fresh affordability crisis in the UK’s property market, driving the cost of a home relative to wages up from already elevated levels to the highs seen just before the financial crisis. An acute shortage of homes being listed for sale is said to be behind the price increases, as this increases competition for those which do become available.  _________________ Do you believe there sh

Property Consulting

Boris Johnson: Legislation imposed to expose dirty money in UK property

UK's property market is being ruled with a new legislation to reduce the amount of dirty money in order to push out the wealth of Russia's government and overseas owners of properties who have not revealed their true identities. The Conservatives first committed to introducing a Register of Overseas Entities Bill six years ago but there has been little action since a government consultation closed in 2018. The domestic measures focusing on illicit finance in the UK follow a number of sanctions on Russian banks, airlines, oligarchs and more than 100 entities associated with

Property Consulting

India: Demand to restart 40% discount on property tax for self occupied homes

All political parties have all around voted for a reintroduction for the 40% discount in self occupied homes which was stopped in 2019. It was discontinued to recover this discounted amount owed previously. However, it has been discovered that there is due to be no shift in property tax in the financial year of 2022 to 2023. Therefore the leader of house in PMC said that all parties have supported the reintroduction of this scheme. __________ Do you believe this is fair on investors or tenants ?

Property Consulting

Trickle down economics disproven? Rise in property millionaires are the evidence.

Currently wages are not rising at the same rate as inflation, with extortionate energy bills and increasing in grocery shop prices - the youth are struggling. However, companies are predicting this could lead to a more than 2.7 per cent pay fall, greater than that of 1991. One in Forty-Two homes are worth £1 million in the U.K. There is great controversy over the idea that a free market with little to no regulation will allow wealth to trickle down to everyone in the economy. The number of people renting will exponentially increase as it did 30 years ago, as for many homes

Property Consulting

Michael Gove proposals: Leaseholders will be paying for property fixes!

The new policy introduced by Michael Gove could result in leaseholders being liable to pay upto £15,000, if the building owners cannot afford to pay. This is following the cladding crisis and it suggests that if property developers and manufacturers do not repair this cladding safety issue they could be removed from the housing market. It is a big push from Gove to ensure that those found guilty of misconduct, in terms of property regulations, would also have to contribute financially to the problems they have caused. _____________ Do you believe this Bill will be a succ

Property Consulting

Decline in Developer’s Bond indicates Risk in Chinese Property:

The Zehnro Properties Group Ltd. has displayed a downward spiral in their bond prices which demonstrates how risky it is to invest in Chinese developer bonds even when repayment is almost definite. The firm's bond prices have fallen by half, from 93 cents on the USD to 59.3 cents. This followed a disclosure that the company may not proceed with planned redemption and transparency concerns are increasing in the real estate sector in China. Bloomberg have suggested if you are a bondholder investing in low risk bonds then this sector is one to exit due to the extreme price vo

Property Consulting

Property Prices in the U.K. are nine times that of earnings:

Kirstie Allsopp was held under great criticism for suggesting modern lifestyle choices, for example subscriptions for streaming application and exercise institutes, - should be stopped and or altered. This is in order to afford housing and allowing, oneself to get onto the property ladder. The difficulties with getting on the housing ladder is the multiplex of costs involved are immense ; one has to pay a deposit, there are restrictions on how much money can be borrowed. In the late 20th Century the house prices were approximately only 4 to 5 times earnings which we can no

Property Consulting, Uncategorized

Tax corner: Considering the value of corporate-owned residential property

Annual Tax on Developed Dwellings (ATED) returns for properties - matching the criteria, owned between the April 1 2022 to March 31 2023 period is required to be filed by April 30 2022. It applies to properties whereby it is valued in excess of £500,000, that are owned by a company or within a corporate wrapper, furthermore if the value of the dwelling has increased in recent years and its market value is more than £500,000 by the end of March 2022. There are various reliefs from these returns:  Let to a third party on a commercial basis and isn’t, at any time, occupied

Investment

Is the property industry ESG ready?

Environmental, Social and Governance (ESG) criteria are a set of standards for a company's operations, day to day, that socially aware investors use to check for potential investments. Investment is on the incline in the office sector but will the property industry be prepared to be compliant with the ESG criteria. However, the criteria is not standardised and may delay the current progress the industry needs post COVID. The industry needs to ensure that the information on and benefits of ESG are collected and disseminated by building owners and tenants. ______ Do you be