Foreign Ownership of UK Residential Property

Published by on

Cameron shares his thoughts on a recent BBC article about the foreign ownership of reidential properties in the UK.

I was interested to read the article by BBC Economics correspondent Andy Verity on the BBC News website on 13 Feb 2018. It was originally entitled “Island tax haven firms own 23,000 UK properties” but for perhaps obvious reasons that headline title was later changed to “Firms on Caribbean Island chain own 23,000 UK properties”.

The article only shows the position for England and Wales, so does not deal with the whole of the UKm and doesn’t mention Scotland at all.

Perhaps obviously, we are really talking about top end properties and commercial properties, or properties with huge development potential that are the target for such investment companies choosing to register their companies in places like the British Virgin Islands and Jersey, Guernsey and the Isle of Man. But the thing these places have in common is that they have a reputation for being tax havens.

It would be interesting to see if Scotland and in particular Edinburgh is seeing the same thing happening.

I don’t think we are going to see off shore companies buying up huge numbers of residential properties around the capital simply as an investment. But it would be interesting to see who owns the various hotels and high profile development areas around Edinburgh.

 


Passionate about property and providing great service at value for money.

Cameron Stephen
Partner with Cameron Stephen & Co. solicitors and estate agents, Edinburgh
cameron@cameronstephen.co.uk
0131 555 1296

Tags

Related Articles