Select Page

UK property investments are a topic on nearly every politician’s agenda right now, Vince Cable, the Liberal Democrat leader, wants a “fierce” tax on overseas investors purchasing an investment property in the UK, this is an unofficial endorsement for Boris Johnson, the foreign secretary, who called for similar regulations last week.

This strange alliance between Sir Vince Cable, and Mr. Johnson, a leading Brexiter, shows the extent of growing political tension at the price of a property in the UK.

Sir Vince said that Britain “must end the stranglehold of oligarchs and speculators in our housing market”, part of a pitch to broaden his Liberal Democrat party’s’ agenda beyond opposition to Brexit.

“I want to see fierce tax penalties on the acquisition of property for investment purposes, by overseas residents,” the former business secretary said in a speech to the party conference in Bournemouth.

I see our future as a party of the government. My role, as your leader, is to be a credible potential prime minister.

Mr. Johnson told Daily Telegraph last week, saying it was often “pointed out that the price of housing in certain parts of London may be pushed up by buyers from overseas”.

“No one would want to send a signal that the London market was closed. But it would at least be possible to have the argument,” he wrote.

Sir Vince, also wants measures to end the “blight of absentee second home ownership” in the UK.

Sir Vince, does not want the party LibDem defined by Brexit alone, on housing, he promised to promote a “new generation of garden cities and garden villages”, and to allow councils to borrow to build homes.

“I see our future as a party of the government,” he said. “My role, as your leader, is to be a credible potential prime minister.”

For further information on the property markets and UK property investments visit DevDosh Ltd today.