Property News · January 30, 2016

Levy on luxury London homes would net £86m a year for social housing


Property tax would force global super-rich to subsidise affordable housing, say researchersThe government could raise more than £86m a year for social and affordable housing by imposing a premium property tax on luxury London homes bought by the global super-rich, researchers have calculated.Properties in the capital, worth £5m or more sold for a combined £5.2bn between 2011 and 2013, with sales to uber-wealthy overseas buyers making up half that amount, according to academics from Goldsmiths, Sheffield and York universities. Continue reading…

Source : theguardian.com
Read more…Levy on luxury London homes would net £86m a year for social housing

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