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TODAY'S OTHER NEWS

Investors still bullish about buy-to-let

Investors remain positive about the prospects for buy-to-let despite the new stamp duty charge and forthcoming crackdown on mortgage tax relief.

The latest owner-managed business barometer from the Bank of Cyprus UK shows that 53% named property as the most attractive investment option.

This sentiment remains unchanged since 2015, despite tougher conditions in the buy-to-let market.

Cash, stocks and shares and commercial property lag far behind residential property in terms of popularity, the survey showed.

Lakis Kasapis of Bank of Cyprus UK said: “Despite the new measures making life harder for buy-to-let landlords, demand for residential property as an investment is still strong, and surprisingly people are even slightly more bullish about buy-to-let investments than six months ago.

“It remains to be seen if this appetite for investing in the residential market will now come to a hard stop following the stamp duty increase."

Kasapis added that tax relief the continued uncertainty surrounding a potential Brexit may also cast a shadow over the market but positive investor attitudes were heartening.

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