What does the UK’s stamp duty tax break mean for Middle East investors?
- Date: 04-Aug-2020
- Source: Arabian Business
- Sector:Economy
- Country:Middle East
What does the UK’s stamp duty tax break mean for Middle East investors?
On July 8, the Chancellor of the UK Government, Rishi Sunak, announced first-time property buyers would pay no stamp duty tax on properties up to the value of GBP500,000 (AED 2.36 million), with immediate effect.
With uncertainty stunting the growth of the real estate market in the UK as a result of Covid-19, these latest measures by the UK Government are likely to increase confidence with those who have previously been hesitant to buy.
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