Prime Property in U.K.’s Capital Hits Record High

Prime property in London, England has hit a record high. The average asking price of homes in Kensington and Chelsea has hit an average of £2 million due to wealthy buyers from India, China, and Russia. These foreign investors are still targeting London’s real estate due to Britain’s transparent legal system and its reputation as a safe haven.

UK Government Urged to Amend Empty Property Rates Tax

The British Property Federation (BPF) is urging UK chancellor, George Osborne to help small businesses grow in the upcoming Budget by giving tax relief on empty property rates.

First-Time Buyer Rush to Beat UK Stamp Duty Fails to Raise Prices

First-time buyers in the UK are currently able to purchase property up to the value of £250,000 without paying the standard 1% stamp duty, but this exemption comes to an end on March 24 after which they will become liable for stamp duty on any property costing more than £125,000.

Crown Estate Reports Record Profits

The Crown Estate has reported record profits for the year ending March 31st. Profits rose from £210.7 million to 230.9 million, with much of this increase being due to increased rents and interest income. Apparently this has been an extremely good year for the Crown Estate, and although changes are being proposed to the way

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London’s Square mile could face new planning regulations

A proposed relaxation of planning laws could undermine the reputation of London’s Square mile, as it would allow office space to be converted into homes. It’s being argued that this would affect the city’s competitiveness and world-class status. Peter Rees, city planning officer for the Corporation of London was speaking at an event organized by

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