Looks like all the hot cities around the world is trying to curb property speculations. Now it is the turn of London. From Apr 2015, all overseas investor will face a property tax on any profit made. Currently it only applies to citizens and residents while foreign buyers do not need to pay any tax. The tax rate is up to 18% of any profit made while 28% for more expensive properties according to the The Guardian.
I believed this new policy will no doubt affect the London property prices as 18% tax is no small change for investors.
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