Findings from new research has found that the number of overseas landlords in the UK has fallen to a record low.
The latest data and analysis from Hamptons International reveals that, during the first half of this year, the proportion of international based landlords in the UK fell to 6 per cent.
This means that the proportion of rental homes let by a landlord based overseas has halved since the first half of 2010, when their records began.
However, London has recorded a spike in international based landlords this year. The proportion of London homes let by an overseas landlord peaked at 20 per cent the second half of 2011, but had fallen back to 7 per cent at the back-end of last year.
However, the latest findings show that more than one in ten (12 per cent) homes let in the UK’s capital are currently owned by an overseas landlords. This is the highest proportion in the country. At 3 per cent, the East Midlands has the lowest.
The proportion of homes let by an overseas based investor has halved in the last eight years,” said Aneisha Beveridge, an Analyst at Hamptons International. “Higher stamp duty and annual tax on enveloped dwellings (ATED) combined with a steady increase in foreign investors’ tax bills has led to a decline in foreign investment in buy-to-let. Overseas investors also saw the removal of capital gains tax exemptions in 2015.”
Nearly half of international landlords are based in Western Europe (44 per cent). Landlords from Australasia (16 per cent), North America (14 per cent) and Asia (12 per cent) make up the next biggest groups, while 9 per cent hail from the Middle East.
Article published 14th August 2018