Foreign capital in the UK real estate market (using investment from Greater China as an example)

 
PIIS013128120007991-1-1
DOI10.31857/S013128120007991-1
Publication type Article
Status Published
Authors
Occupation: Junior researcher, Institute of World Economy and International Relations
Affiliation: Institute of World Economy and International Relations
Address: Moscow, Russian Federation
Journal nameProblemy Dalnego Vostoka
EditionIssue 6
Pages81-95
Abstract

The article discusses the structure and characteristics of the UK real estate market. The main changes in taxation of real estate and transactions with it are indicated. Estimated is the participation of foreign capital in the UK real estate market. The analysis of investments of investors from Greater China aimed at development projects, hotel, office and retail real estate in the UK. The factors affecting the activity of investors from Greater China in the UK real estate market are listed.

Keywordsreal estate in Great Britain, China, Hong Kong, construction of real estate, hotel real estate, office real estate
Received22.12.2019
Publication date24.12.2019
Number of characters44243
Cite  
100 rub.
When subscribing to an article or issue, the user can download PDF, evaluate the publication or contact the author. Need to register.

Number of purchasers: 0, views: 1475

Readers community rating: votes 0

1. . Hereinafter, we mean only mainland China, Taiwan, Hong Kong, and Macau.

2. . GBP.

3. . Profitable real estate here refers to large, professionally managed assets.

4. . The Size and Structure of the UK Property Market: End-2017 Update. Investment Property Forum. 12.2018. URL: https://www.ipf.org.uk/ resourceLibrary / the-size —- structure-of-the-uk-property-market —- year-end-2017-update.html.

5. . Hilber C.A.L., Vermeulen W. The impact of supply constraints on house prices in England. CPB Dis-cussion Paper. 2012. P. 1. URL: https://www.cpb.nl/ sites / default / files / publicaties / download / cpb-discussion-paper-219-impact-supply-constraints-house-prices-england_0.pdf.

6. . Hilber C.A.L., Vermeulen W. The impact of restricting housing supply on house prices and affordability. London: Department for Communities and Local Government. 2010.P. 7.

7. . Hilber C. UK Housing and Planning Policies: the evidence from economic research. LSE: London. 2015.P. 4.

8. . Ibid. P. 1.

9. . In the UK, a fiscal year counts from April 1 to March 31.

10. . Table 120: components of housing supply; net additional dwellings, England 2006–07 to 2017–18. URL: https://www.gov.uk/ government / statistical-data-sets / live-tables-on-net-supply-of-housing.

11. . Wilson W., Barton C. Tackling the under-supply of housing in England. Briefing paper No. 07671. Lon-don: House of Commons Briefing Paper. 2018. P. 10–12.

12. . HM Land Registry has been maintaining such statistics since October 2013, data for earlier periods are not taken into account.

13. . Firms on Caribbean island chain own 23,000 UK properties. 02/13/2018. URL: https://www.bbc.com/ news / business-42666274.

14. . Draft Registration of Overseas Entities Bill: government response to Joint Committee report. Policy pa-per. 07/18/2019. URL: https://www.gov.uk/ government / publications / draft-registration-of-overseas-entities-bill-government-response-to-joint-committee-report.

15. . London's Overseas Buyers. Savills UK. 08/14/2014. URL: https://www.savills.co.uk/ insight-and-opinion / savills-news / 132747–1 / london-s-overseas-buyers.

16. . Wallace A., Rhodes D., Webber R. Overseas investors in London`s new build housing market. Center for Housing Policy, University of York, York. 2017. P. 7–8. URL: https://www.london.gov.uk/ moderngovmb / documents / s58641 / 08b2c% 20University% 20of% 20York% 20data% 20report.pdf.

17. . Proportion of overseas based landlords halves since 2010. Hamptons International. 08/18/2018. URL: https://www.hamptons.co.uk/news-research / press-releases / august-18–2018 /.

18. . Chinese buy-to-let investors flocking to Manchester as enquiries rise 250%. 03/20/2018. URL: https://www.buyassociation.co.uk/ 2018/03/20 / chinese-buy-to-let-investors-flocking-to-manchester-as-enquiries-rise-250 /.

19. . Wilson W., Barton C. Foreign investment in UK residential property. Briefing paper No. 07723. London: House of Commons Briefing Paper. 2017.P. 5.

20. . Stop rich overseas investors from buying up UK homes, report urges. 02/01/2014. URL: https://www.theguardian.com/ business / 2014 / feb / 01 / rich-overseas-investors-uk-eu-housing-market.

21. . Wilson W., Barton C. Foreign investment in UK ... P. 2–3.

22. . Londoners will get "first dibs" on new-build homes up to? 350,000. 02/05/2018. URL: https://www.standard.co.uk/ news / london / londoners-will-get-first-dibs-on-newbuild-homes-up-to-350000-a3758126.html.

23. . Hamnett C., Reades J. Mind the gap: implications of overseas investment for regional house price di-vergence in Britain. Housing studies. Vol. 34. 2019.P. 393–395.

24. . "Dismay doesn`t do it justice": how a secret system was used to ax hundreds of affordable homes. 05/26/2015. URL: https://www.thebureauinvestigates.com/ stories / 2015–05–26 / dismay-doesnt-do-it-justice-how-a-secret-system-was-used-to-ax-hundreds-of- affordable-homes-on-britains-most-iconic-construction-site.

25. . The tax systems of England, Scotland, Wales and Northern Ireland have some differences. In connection with the concentration in England of foreign investment in real estate, here are the main provisions of the tax system in England.

26. . Freehold - the unconditional ownership of the land and the building built on it. Leasehold - use on a long-term lease for a certain period of time (usually 99 or 125 years).

27. . History of stamp duty taxes. URL: https://www.stampdutyrates.co.uk/ historic-rates.html.

28. . Annual Tax on Enveloped Dwellings. 03/20/2014. URL: https://www.gov.uk/ guidance / annual-tax-on-enveloped-dwellings-the-basics.

29. . Graeme Blair. Non-resident corporate landlords tax changes coming. 06/25/2018. URL: https://www.goodmanjones.com/ blog / non-resident-corporate-landlords-tax-changes-coming /.

30. . Inheritance tax on UK residential property and related finance. KPMG. 10.2017. URL: https://home.kpmg/ content / dam / kpmg / uk / pdf / 2017/03 / inheritance-tax-on-uk-residential-property-and-related-finance.pdf.

31. . UK hotels prove resilient to market headwinds. Savills UK. 01/18/2019. URL: https://www.savills.co.uk/ blog / article / 273859 / commercial-property / uk-hotels-prove-resilient-to-market-headwinds.aspx.

32. . UK hotel investment report Q1 2018. Savills UK. 03/13/2018. URL: https://www.savills.co.uk/ re-search_articles / 229130 / 228411–0.

33. . UK hotel investment report 2019. Savills UK. 01/23/2019. URL: https://www.savills.co.uk/ re-search_articles / 229130 / 274445–0.

34. . Included in statistics since 1997 after the transfer of Hong Kong to the jurisdiction of the PRC.

35. . Cooper A., ??Cowling A. China's property market. Reserve Bank of Australia. 2015. URL: https://www.rba.gov.au/ publications / bulletin / 2015 / mar / 5.html.

36. . Chinese outward real estate investment: after the initial waves, what`s next? Knight Frank report. 2015. URL: https://content.knightfrank.com/ research / 736 / documents / en / chinese-outward-real-estate-investment-2533.pdf.

37. . Hong Kong beats US and UK as top destination for Chinese property capital. 08/02/2018. URL: https://hongkongbusiness.hk/ commercial-property / news / hong-kong-beats-us-and-uk-top-destination-chinese-property-capital.

38. . Chinese cut realty buys outside mainland. 06/10/2019. URL: http://www.chinadaily.com.cn/ a / 201906/10 / WS5cfdc35da310176577230415.html.

39. . China could step up UK investment after regulations relaxed in Beijing. 06/14/2018. URL: https://www.buyassociation.co.uk/ 2018/06/14 / china-could-step-up-uk-investment-after-regulations-relaxed-in-beijing /.

Система Orphus

Loading...
Up