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APITS presenter wants foreign UK home owners to pay more CGT

Posted by: In: Real Estate 11 Apr 2014 Comments: 0 Tags: ,

Jonnie Irwin, who co-presents Channel 4 overseas property TV show A Place in the Sun, wants UK property values to stop rising so fast and Capital Gains Tax for overseas investors to be increased

TV overseas property presenter, Jonnie Irwin, says he wants to see UK house prices stabilise or stagnate and capital gains taxes rises for overseas property buyers.

The star of popular Channel 4 series A Place In The Sun, told The Metro property section that a house is predominantly a home rather than a commodity.

“I would like to see property prices stabilise or even stagnate. I firmly believe that a house is first and foremost a home. With the fluctuations in the residential market it will always tempt speculation which leads people to view their homes more like a commodity and not an asset.

“It’s not a coincidence that the shorter tenure of homes, the length of time we own a property for, has gone hand in hand with the sense of our dwindling communities and first time buyers being priced out of the market, tempting people to borrow more and more to afford below average homes in the capital.

“It’s simply supply and demand. I think it could at least …read more

Source: OPP



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