Should we tax foreign buyers on property deliberately left empty?

Graham_Devon

chucky wrote: »

I need to buy a 2 bedroom flat to live in but buy a 3 bedroom house because it is a better investment for me and probably won't use the 3rd bedroom. Why should I be taxed because I buy the house as an investment despite me living in it.

That's not an investment property and you are trying way to hard again.

I don't even know why you think typing such stupid posts is even a good idea.

CLAPTON

chucky wrote: »

You miss the point.

I need to buy a 2 bedroom flat to live in but buy a 3 bedroom house because it is a better investment for me and probably won't use the 3rd bedroom. Why should I be taxed because I buy the house as an investment despite me living in it.

Individuals should be able to buy what they need. The exit taxes is where these investors should be penalised.

The discussion is (mainly) about buying properties to leave empty although there's a sub-stream about who knows more 'less well off people' too.

chucky

Graham_Devon wrote: »

That's not an investment property and you are trying way to hard again.

I don't even know why you think typing such stupid posts is even a good idea.

Any attempt at intelligent discussion is obviously lost with you.

With posts like this no wonder people treat you with contempt.

chucky

CLAPTON wrote: »

The discussion is (mainly) about buying properties to leave empty although there's a sub-stream about who knows more 'less well off people' too.

Thanks Clapton, at least we can have a discussion instead of having the subspecies on this forum trying to disrupt it.

I can and should be able buy whatever property I like regardless if it makes people homeless or increases demand or reduces supply. It should apply if you are a UK national or not, the investment capital still remains in the UK.

The market is a free market. Trying to restrict purchases by foreign buyers is not the way forward for the UK economy. Just look at the way the UK government is relatively quiet about the Ukraine crisis.

CLAPTON

chucky wrote: »

Thanks Clapton, at least we can have a discussion instead of having the subspecies on this forum trying to disrupt it.

I can and should be able buy whatever property I like regardless if it makes people homeless or increases demand or reduces supply. It should apply if you are a UK national or not, the investment capital still remains in the UK.

The market is a free market. Trying to restrict purchases by foreign buyers is not the way forward for the UK economy. Just look at the way the UK government is relatively quiet about the Ukraine crisis.

at the moment you can indeed buy any property you like (and can afford)

however on a second or non PRR property you are liable to cgt when you sell

overseas buyers are not, which makes competitive disadvantage for UK residents

ukcarper

CLAPTON wrote: »

The discussion is (mainly) about buying properties to leave empty although there's a sub-stream about who knows more 'less well off people' too.

No just pointing out the stupid comment you made about homelessness.

chucky

CLAPTON wrote: »

at the moment you can indeed buy any property you like (and can afford)

however on a second or non PRR property you are liable to cgt when you sell

overseas buyers are not, which makes competitive disadvantage for UK residents

That's the whole point, the overseas investors should be taxed not because the property is empty (they can do what they like with their choice of investment) but taxed on selling the property if there is profit made.

The irrelvent argument about homelessness, land not being built on and foreigners are nice arguments by the usual suspects.

CLAPTON

ukcarper wrote: »

No just pointing out the stupid comment you made about homelessness.

which one was that: I make so many?

ukcarper

CLAPTON wrote: »

which one was that: I make so many?

I wouldn't go so far as to say that but you can be a little single minded.

TickersPlaysPop

This thread started about foreign buyers in London.... Something I have been posting about here over last 2 weeks.

I hope the people that disagreed with my view will take note of the latest figures in the publication cited at the beginning of this thread.

When the Chinese economic bubble bursts, and the world faces up to the fraud and fake money they are creating, there will be massive implications if they have significant amounts of money in our property market.... It's not about the number of properties, it's the huge amount of money in the London house market owned by Russians and Chinese. China has been riding on credit not success and wealth creation, china is now over 200 debt to GDP, and that might be an underestimation.

If a significant number of them bail when things get tough for them, our housing market will drop. I am hoping this will be limited Central London and ripple out only to Home Counties.... but we do need a correction in future to balance out the current bubble?