From April 1 2021, non-UK residents will now have to pay an additional 2% stamp duty charge on any England or Northern Ireland property.
Reacting to the announcement and what this may mean for the future of the UK property sector, Camilla Dell shared with with George Hammond of The Financial Times why she believed the new charge will in fact not deter overseas buyers completely:
“It’s an additional cost, but you have to balance that with how a [prime] London property looks to an overseas buyer at the moment: prices are still down 20 per cent from the peak [in 2014]; the pound is up but still cheap compared to the dollar.”
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