{"id":113489,"date":"2020-01-09T01:01:22","date_gmt":"2020-01-08T18:01:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-buyer-focus-will-not-fix-housing-letters\/"},"modified":"2020-01-09T01:39:30","modified_gmt":"2020-01-08T18:39:30","slug":"foreign-buyer-focus-will-not-fix-housing-letters","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-buyer-focus-will-not-fix-housing-letters\/","title":{"rendered":"\u2018Foreign buyer\u2019 focus will not fix housing | Letters"},"content":{"rendered":"


\nWill McMahon says it\u2019s tax-avoidance schemes that are the real problem, while John Worrall believes punitive council tax on empty homes will helpThe repeated reference to \u201cforeign buyers\u201d in your editorial (6 January) as a key driver of the housing crisis, is in danger of misdirecting readers, as well as giving succour to populist narratives. It is not \u201cforeignness\u201d that housing policy needs to address, but the financialisation of the housing market, which has led to residential property being used as a wealth store or investment vehicle without the need to house anyone at all.Recent academic analysis of the problem in Kensington and Chelsea shows that, in terms of property value, three-quarters of properties bought by overseas buyers in the borough are owned by entities registered in the British Virgin Islands, Jersey and Guernsey. This may indicate that it is the use of offshore vehicles for tax avoidance by UK residents, rather than London falling into the grips of Russian or Chinese billionaires, that the government needs to tackle.Will McMahonDirector, Action on Empty Homes Continue reading…
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\nSource : theguardian.com
\nRead more…\u2018Foreign buyer\u2019 focus will not fix housing | Letters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Will McMahon says it\u2019s tax-avoidance schemes that are the real problem, while John Worrall believes...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-113489","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-twt","jetpack-related-posts":[{"id":52395,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ontario-imposes-tax-on-overseas-buyers-to-rein-in-housing-prices\/","url_meta":{"origin":113489,"position":0},"title":"Ontario imposes tax on overseas buyers to rein in housing prices","date":"April 20, 2017","format":false,"excerpt":"\r Ontario announced a rash of measures including a tax on foreign buyers and expanded rent control as part of a plan to temper escalating home prices in Toronto. The 15 per cent levy would apply to non-Canadian citizens, non-permanent residents and non-Canadian corporations\u00a0buying residential properties containing one to six\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52443,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/toronto-to-introduce-15-per-cent-foreign-buyer-tax-in-bid-to-calm-red-hot-housing-market\/","url_meta":{"origin":113489,"position":1},"title":"Toronto to introduce 15 per cent foreign-buyer tax in bid to calm red-hot housing market","date":"April 21, 2017","format":false,"excerpt":"\r Foreign nationals who don\u2019t live in Canada\u2019s biggest city and its surrounding communities will pay an additional 15 percent tax on home purchases under legislation proposed by the government of Ontario province. Ontario Premier Kathleen Wynne made the announcement Thursday in an effort to cool a hot housing market\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42739,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vancouver-makes-about-face-on-taxing-foreign-home-buyers\/","url_meta":{"origin":113489,"position":2},"title":"Vancouver makes about-face on taxing foreign home buyers","date":"February 3, 2017","format":false,"excerpt":"\r Are there still any foreign buyers left though? Chinese New Year Parade 2017 in Chinatown, Vancouver. Zhenwang Wang\/Shutterstock Canada will be walking back its curbs on foreigners purchasing Vancouver homes as demand for them continues to cool down. Refunds are now in the offing for those that have been\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98898,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tax-on-foreign-buyers-sends-uk-real-estate-stocks-tumbling\/","url_meta":{"origin":113489,"position":3},"title":"Tax on foreign buyers sends UK real estate stocks tumbling","date":"October 1, 2018","format":false,"excerpt":"\r The housing policy was announced at the ruling Conservative Party's annual conference.\r \r Source : cnbc.com\r Read more...Tax on foreign buyers sends UK real estate stocks tumbling","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26818,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/leicester-gouwland-foreign-buyers-missing-out-on-the-tax-breaks\/","url_meta":{"origin":113489,"position":4},"title":"Leicester Gouwland: Foreign buyers missing out on the tax breaks","date":"September 22, 2016","format":false,"excerpt":"\r Leicester Gouwland is a director in Auckland accountancy firm William Buck Christmas Gouwland.In the Weekend Herald , Labour's housing spokesman Phil Tywford claimed New Zealand is being deprived of $100 million in tax by people...\r \r Source : nzherald.co.nz\/Property\r Read more...Leicester Gouwland: Foreign buyers missing out on the tax\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80579,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vancouvers-hot-property-market-gets-tougher-for-wealthy-chinese-as-foreign-buyer-tax-is-raised-to-20pc\/","url_meta":{"origin":113489,"position":5},"title":"Vancouver\u2019s hot property market gets tougher for wealthy Chinese as foreign buyer tax is raised to 20pc","date":"February 21, 2018","format":false,"excerpt":"\r Vancouver, one of the hottest housing markets in North America, is getting a little tougher for wealthy Chinese buyers. British Columbia Finance Minister Carole James announced measures targeting foreign buyers and speculators in the first budget since her government was elected on a pledge to make housing more affordable\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113489"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=113489"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113489\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=113489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=113489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=113489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}