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Restrictions for foreign buyers
Plans being worked on by the Treasury will make it more difficult for foreign buyers to purchase British property. It is part of a drive to get younger Britons on the housing ladder.
A spokesman for Whitehall said:
"There's an issue in London with a large proportion of new-build flats being purchased off plan, particularly by Far Eastern buyers - from China, Hong Kong, Singapore, Malaysia. Such properties are bought when they are still under construction, meaning first-time buyers don't get a look in. That is not just in central London, but in the suburbs and other cities such as Manchester."
Property Professional Magazine Issue 25 - November/December 2017