In the UK property prices are attaining “bubble” proportions.
Here is what the UK government proposes to do:
“Britain to tax foreign property investors as London housing bubble looms”
By Brenda Goh
Dec 6, 2013
(Reuters) – Britain will impose a capital gains tax on foreign property investors from 2015 in a bid to allay fears that wealthy foreign buyers are inflating a London-led property bubble which is pricing locals out of the market.
The acquisition of housing ranging from opulent mansions to modest apartments by purchasers including Russia oligarchs, Indian tycoons and Europeans fleeing the euro zone crisis has helped fuel a London-led rise in prices. That has stoked concerns ahead of the 2015 election that many Britons may never be able to afford their own homes,
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