Number of overseas landlords halves to 5.5% of buy-to-let market

first_imgOverseas landlords are abandoning the UK buy-to-let market in droves as the unfavourable exchange rate created by Brexit and a harsher tax regime bite, it has been claimed.Hamptons International says that although the decline has been ongoing over the past eight years, this year the proportion of the buy-to-let market controlled by overseas landlords has dropped dramatically to an-time low of 5.5%, down from 14.4% in 2010.The decline is taking place all over the UK but is most marked in London, where the proportion of homes let by an overseas landlord has dropped from 26% in 2010 to 14.4% this year.The South East has also seen similar but not quite so dramatic reductions in overseas landlords, while the regions with the fewest investors include Wales, the Midlands and the North East, the figures show.“The proportion of homes let by an overseas-based landlord has more than halved since 2010,” says Aneisha Beveridge, Head of Research, Hamptons International (left).“Sterling’s depreciation since 2016 undoubtedly makes it cheaper for international buyers to purchase property in Great Britain.“But the conversion of pounds back into local currency means additional costs which cut into an overseas landlords’ monthly income.  This, combined with a harsher tax regime for overseas investors is dissuading some international investors from entering the rental market.”Although the foreign property investment market is often portrayed as an Asian affair, the Hamptons International figures show that 34% of investors hail from Western Europe while 20% are from Asia and 13% from the US.Also, although Russians are much talked about, only 1% of foreign landlord come from Eastern Europe. overseas landlords Hamptons International Aneisha Beveridge buy-to-let foreign landlords December 17, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Housing Market » Number of overseas landlords halves to 5.5% of buy-to-let market previous nextHousing MarketNumber of overseas landlords halves to 5.5% of buy-to-let marketDecline has been particularly fast during 2018 and drops have been harshest in London, latest figures from Hamptons International show.Nigel Lewis17th December 201801,245 Viewslast_img read more