Wales set to introduce 3% surcharge on buy-to-let purchases

home price growth predicted to rise to 8.5 per cent
Irish property prices rise to top EU leagues in 2017

A proposal to scrap Stamp Duty in favour of a new Land Transaction Tax is today being considered by the Welsh Assembly. This would levy a 3% surcharge on purchases of second homes, including buy-to-lets.

Landlords’ association RLA Cymru is warning that this could impact the supply of rental homes, making it more difficult for families and the homeless to access rented housing.

Government statistics show that in 2015-16 that of a total of 3,108 families that were threatened with homelessness, 35% (1,077) were housed in the private rented sector.

 

Full story available from Property Industry Eye: http://www.propertyindustryeye.com/now-wales-gets-set-to-introduce-3-surcharge-on-purchase-of-buy-to-let-properties/

 

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