This idea needs to be borrowed by Cornwall, and all the other communities across the UK who have been shafted by profiteering second home ownership.
Guess what the minimum asking price for a certain housing segment will be from now on? Brokers gonna broke.
Is this for new homes or retroactively applied, also how is price derived?
house prices starts now at €355K in R’dam
Communism in action
This has a “fucking over renters for the sake of first´-time buyers” vibe to it.
Probably is going to backfire in a decade where enough people are first time buyers to push for pulling the ladder up for the sake of their house prices, and striking the law down.
Essentially a “temporary embarrassed upper middle class” law.
355K means rental in the 1500 EUR/month if the yield is kept in line with market value like in the UK.
I guess there is a gamble here that the rental yield will drop, like in Spain where you are lucky to get 800 EUR/month for a 355K property, making buy-to-let an unprofitable business.
It can also be combined with an empty property tax like in Belgium. If you leave your house without resident you can after a few year find yourself with 5000 EUR in tax (all the taxes of a normal residence plus an extra to compensate for the fiscal loss of not having anyone living there)
That can work I guess and lead to cheaper rental and less professional landlord. Or it can go catastrophically wrong if the housing market is too hot and this attempt to cool it down just send it into a panic.
355K is rather low, but better than nothing. In Amsterdam they will set it at 550k.
Whatever it takes not to build tons of new houses.
What happens if the place is already rented out and is being sold but the current renters don’t want to buy it? Are you not allowed to sell it? Are renters evicted? Are you not allowed to rent it after those current renters leave?
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I guess not too many homes at that level.
This idea needs to be borrowed by Cornwall, and all the other communities across the UK who have been shafted by profiteering second home ownership.
Guess what the minimum asking price for a certain housing segment will be from now on? Brokers gonna broke.
Is this for new homes or retroactively applied, also how is price derived?
house prices starts now at €355K in R’dam
Communism in action
This has a “fucking over renters for the sake of first´-time buyers” vibe to it.
Probably is going to backfire in a decade where enough people are first time buyers to push for pulling the ladder up for the sake of their house prices, and striking the law down.
Essentially a “temporary embarrassed upper middle class” law.
355K means rental in the 1500 EUR/month if the yield is kept in line with market value like in the UK.
I guess there is a gamble here that the rental yield will drop, like in Spain where you are lucky to get 800 EUR/month for a 355K property, making buy-to-let an unprofitable business.
It can also be combined with an empty property tax like in Belgium. If you leave your house without resident you can after a few year find yourself with 5000 EUR in tax (all the taxes of a normal residence plus an extra to compensate for the fiscal loss of not having anyone living there)
That can work I guess and lead to cheaper rental and less professional landlord. Or it can go catastrophically wrong if the housing market is too hot and this attempt to cool it down just send it into a panic.
355K is rather low, but better than nothing. In Amsterdam they will set it at 550k.
Whatever it takes not to build tons of new houses.
What happens if the place is already rented out and is being sold but the current renters don’t want to buy it? Are you not allowed to sell it? Are renters evicted? Are you not allowed to rent it after those current renters leave?
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